IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The Internal Revenue Service has posted a draft version of Schedule 1-A, "Additional Deductions," for Form 1040 that will be used next tax season when claiming new tax breaks in the One Big Beautiful ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Lea Uradu, J.D., is a Maryland state ...

The IRS on Monday issued proposed regulations (REG-108822-25) that would modify information-reporting obligations for Part IV of Form 8308, Report of a Sale or Exchange of Certain Partnership ...

The AICPA on Thursday sent a letter to the IRS with recommendations to two areas of new instructions to Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent. The AICPA ...

Ever looked at your paycheck and wondered why your take-home pay seems off? It might have something to do with your W-4 form. If you’re starting a new job, picking up a side hustle or going through a ...

Businesses that need extra time to file their tax returns can request an automatic extension using IRS Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, ...

Tax season opened on January 27, meaning taxpayers can now file and pay their tax returns with the IRS. Not paying on time or filing incorrect information can lead to unwanted penalties. The IRS has ...

In November, UTSA employees received an email that provided information about opting in for electronic delivery of the IRS Form 1095-C: Employer Provided Health and Insurance Offer and Coverage. View ...

New employees must complete both Form W-4 (Employee’s Withholding Allowance Certificate) and Form VA-4 (Employee’s Virginia Income Tax Withholding Exemption Certificate) online in Workday. If no form ...

As tax season approaches, seniors and retirees are gearing up to file their taxes, and the IRS Form 1040-SR has been designed to cater to their needs. TRAVERSE CITY ...