The American Institute of CPAs is asking for more flexibility for taxpayers who wish to claim tax deductions for overtime and ...

Transitional guidance released by the IRS on Oct. 21 gives auto lenders room for avoiding penalties when it comes to ...

If you earn money through a side hustle, run a small business, or get paid through apps like Venmo, PayPal, or Cash App, or sites like eBay, you’ve probably come across a lot of mixed messages about ...

The Internal Revenue Service (IRS) is introducing a new form, Schedule 1-A, to streamline the process of claiming deductions for tips, overtime, auto loan interest, and senior benefits. This ...

The time it takes to receive a federal income tax refund could drag out six weeks and more next year for many people who are bound and determined to receive a paper check in the mail. Beginning next ...

The AICPA said taxpayers and tax professionals need certainty about how to claim the deductions for 2025. The IRS has said it will not update its forms until 2026.

Notice 2025-57 explains how businesses should report interest to car purchasers so they can deduct it under the OBBBA.

Nearly half of the IRS workforce — nearly 34,000 employees — faces furloughs as the government shutdown enters its second week, with the agency rolling out a contingency plan to keep key tax ...

The IRS furloughed almost half its workforce as the government shutdown entered its second week, the agency said Wednesday evening in its updated contingency plan. Earlier Wednesday, a public message ...

The IRS will not immediately be impacted by the partial government shutdown that began on Wednesday, Oct. 1. Congressional leaders failed to agree on funding legislation necessary for the U.S.

The IRS should keep all employees on the job even during a government shutdown that extends beyond the five working days covered in the agency’s contingency plan, the AICPA said Friday. The Senate is ...