Republicans want to make the new year a friendlier time for taxpayers by reducing the number of IRS auditors. It seems our biggest concern in life is the fear of a tax audit. When was the last ...

The UK amended its rules around implementation of the global minimum tax to further define excluded entities and determine when top-up charges are made. His Majesty’s Revenue and Customs clarified ...

The Internal Revenue Service’s free tax-filing system will get a new ability that critics say it should have had all along: automatically filling in information that the IRS already has.

The language in the new law appears to carve out any insurance payments from the exclusion from tax. Therefore, unless the IRS clarifies that insurance proceeds also qualify for the new exclusion ...

If a U.S. citizen or resident received a gift or bequest from a foreign person after June 17, 2008, they may be required to file Form 708 and pay the Section 2801 transfer tax to the IRS.

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways.

A frustrating thing about working hard to earn money is knowing the IRS will tax a portion of your earnings. Federal taxable income generally includes wages, tips, royalties, commissions, and for ...

This ensures you are within the exclusion limit and won’t have to worry about tax implications for the gift. If you gift crypto that exceeds the $17,000 limit, you will need to report the excess ...

(AP) — The IRS on Friday announced Jan. 27 as the official start date of the 2025 tax season, and expects more than 140 million tax returns to be filed by the April 15 tax deadline. The ...