Taking tax advice from TikTok can come back to bite you, experts say. The IRS is cracking down on "other withholding" claims.

Navigating the complexities of tax filing can be daunting, but understanding the potential penalties for not filing is ...

On the most basic level, artists who may not earn much or any of their income from the sale of their artistic output need to prove to the IRS that they are professionals and not just dilettantes.

The IRS doesn't have a "conscientious objector" type of exemption, not for political or religious reasons. The government expects you to pay tax on all your income as you earn it, which means that if ...

New IRS educational materials from the 2024 Nationwide Tax Forum cover international tax topics such as proper FBAR and FATCA ...

Is there a lousier system for collecting government revenue than the one we have now? None that we can think of. Read Full Article » ...

Get help from the IRS’s tools or the Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs. The IRS finally made it through a backlog of tax returns caused by COVID 19 ...

Tax season has officially begun, as the IRS is now accepting 2024 federal tax returns as of today, Monday, Jan. 27, 2025. Today also marks the first day taxpayers can use Direct File to submit ...

These deadlines allow taxpayers more time to file their returns, sometimes much later in 2025, without penalties. IRS tax deadline extensions for disaster areas can be helpful by: Providing ...

has clarified that taxpayers failing to pay the due corporate tax for each month or part thereof shall be subject to a monthly penalty of 14 percent per annum. This penalty is imposed on the unpaid ...

Speak to a tax relief expert about your options today. If you don't pay your balance or make arrangements with the IRS, penalties and interest will continue to accrue. The penalty for failure to ...

This decision allows taxpayers to rectify errors or include additional details that were missed in the original ITRs, thus avoiding penalties or litigation. Note that you cannot file an updated return ...