The IRS on Friday released a draft of Schedule 1-A (Form 1040), Additional Deductions, which includes sections for calculating four deductions allowed under H.R. 1, P.L. 119-21, commonly known as the ...
Rajeev Dhir is a writer with 10+ years of experience as a journalist with a background in broadcast, print, and digital newsrooms. Ebony Howard is a certified public accountant and a QuickBooks ...
WASHINGTON — The Internal Revenue Service will phase out paper tax refund checks for individual taxpayers beginning Sept. 30, ...
The Federal Board of Revenue (FBR) has issued the new five-page income tax return form for traders for the year 2025. The form seeks detailed business, financial, and personal information from ...
Many taxpayers are confused about Form 10-IEA, which is required for opting in or out of the new tax regime, especially those with business income using ITR3 or ITR4. Missing the filing deadline ...
Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Lea Uradu, J.D., is a Maryland state ...
Cash gifts and income are subject to IRS reporting rules. Gifts of up to $19,000 in cash are exempt from reporting in 2025. Those who have household employees must report cash payments that exceed ...
Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, ...
2025 starts with one set of federal tax rules. But there very well could be major changes. Odds are decent this year for notable tax legislation. Most of the key tax provisions affecting individuals ...
The first-time penalty abatement lets qualifying taxpayers reverse the penalties for not filing a tax return or paying on time. Many, or all, of the products featured on this page are from our ...
New Jersey residents seeking assistance with any of New Jersey's Property Tax Relief programs such as ANCHOR or PAS -1, help is here. The New Jersey Department of Treasury with the local community and ...
The federal estate tax exemption increased again for 2025. Although the higher, IRS-inflation-adjusted number, announced last fall, may not have come as a surprise to most. However, 2025 is a pivotal ...