The One Big Beautiful Bill introduces tax deductions for tips, overtime, seniors, and vehicle purchases, with specific qualifications and phase-out limits.

There are clear merits to using a discretionary unit trust or offshore endowment. Asset allocation and estate planning must also be carefully considered.

Jaydine Brown, 43, of Chicago Heights faces 26 counts of willfully aiding and assisting in the preparation of false or ...

HMRC said people who are not yet required to use MTD will also move to the new penalty system starting in April 2027. This ...

The Internal Revenue Service made only limited progress in scanning a tiny fraction of paper-filed returns last tax season, ...

The Bipartisan Budget Act of 2015 (BBA) created a “centralized system for audit, adjustment and collection of tax that applies to all partnerships,” with ...

The IRS is reminding taxpayers to stay on top of several key rules and deadlines that can prevent financial sting.

CHICAGO Several trusted Illinois programs offer free income tax preparation for low-to-moderate income families and older ...

Here’s what Connecticut taxpayers need to know about 2026 income tax filing deadlines, extensions and refunds.

By now, the IRS has historically released the first batch of tax return data, but hasn't so far. Here's what could be causing the delay.

AI tax preparation tends to work best if your return is low to moderate complexity and your records are clean. Today's AI tools still fall short when your taxes involve complex business ownership, ...

The IRS generally issues refunds within 21 days for taxpayers who file electronically and choose direct deposit.