In this week's Ask the Editor Q&A, Joy Taylor answers questions on the meaning of modified adjusted gross income, or MAGI.

The maximum amount of EITC for a family with two children will be $7,316 (up from $7,152 in 2025) and $4,427 (up from $4,328 ...

IRS opens PTIN renewal for 800,000 tax pros—those who miss the deadline face penalties, delays, and possible disciplinary ...

The Internal Revenue Service (IRS) will launch an investigation if you make one of four common mistakes on your tax return, ...

The fintech firms' latest software updates promise deeper insights and streamlined workflows for advisors navigating complex ...

Form 1099-K is used to report payments received for goods or services processed through payment apps, online marketplaces, ...

Massachusetts has a flat tax rate of 5%. An additional 4% tax is levied on income over $1 million, making the highest tax rate in the state 9%.

Although the deduction can be as high as $25,000 per tax return, the Tax Policy Center projects an average benefit of ...

Modified adjusted gross income (MAGI) is often used by the IRS and other federal agencies to determine your eligibility for ...

Form 1099-K reporting requirements have created a lot of confusion, and it's understandable why. Many of those sellers haven’t received 1099-Ks before, so understanding the new rules is important for ...

The IRS has three years after you file your return. But there are many exceptions that give the IRS six years or longer. And ...

The IRS refund process is undergoing significant changes under the leadership of President Donald Trump. In March 2025, Executive Order 14247, titled “Modernizing Payments to and from U.S. Bank ...