A gambling losses tax deduction cap in Trump’s “Big Beautiful Bill” is causing an uproar. Here’s what you need to know.

Under the 2017 tax bill passed under the first Trump administration, a cap was officially put on this deduction for the first time, limiting what taxpayers could deduct to $10,000. The cap is ...

The IRS lost 26% of its 102,000-person workforce to layoffs and buyouts this year through early June, amid a larger effort by the Trump administration to shrink the federal government. The figure ...

The Trump administration's 2025 cost-cutting campaign at the IRS may have been all too successful.

The Trump administration’s 2025 cost-cutting campaign at the IRS was all too successful, according to an internal watchdog report. As a result, the agency may struggle through the 2026 tax ...

The IRS deadline to file Form 2290 for the 2025–2026 tax year is September 2, 2025. Failure to file on or before the deadline may result in significant penalties, interest charges, and potential ...