The Internal Revenue Service (IRS) requires employers and employees alike to use specific tax forms to accurately record wages, benefits paid, taxes withheld, and other essential financial information ...

The provisions on tip and overtime compensation were enacted as part of H.R. 1, P.L. 119-21, commonly known as the One Big ...

Janet Berry-Johnson, CPA, is a freelance writer with a background in accounting and income tax planning and preparation for individuals and small businesses. Her work has appeared in Business Insider ...

Key Points ・You usually have up to 3 years to amend your tax return to fix errors. ・Use Form 1040-X to report the changes to the IRS. ・You must include any forms that changed (W-2, 1099, 1098-T). You ...

The IRS will begin processing 2024 tax returns on Jan. 27. The last day you can file your 2024 taxes without requesting an extension is Tuesday, April 15, 2025. Gig workers who earned more than $5,000 ...

Tax season is rarely fun, but it's an inevitable part of life. Whether you're an early filer who knocks it out in February or a last-minute scrambler in mid-April, though, there's always some level of ...

The IRS has released drafts of some 2025 tax forms, including the new Schedule 1-A, Additional Deductions. You’ll use Schedule 1-A to calculate new deductions for tips, overtime, car interest, and ...