The Latest Breaking News from IRS

RMD mistakes can lead to IRS tax penalties and in some cases, more taxable income than necessary.

Most people don't realize it, but if you're a U.S. citizen, the IRS wants to know about all the money you earn, no matter where in the world you earn it.

The IRS could tax your gifts from Christmas raffles, Secret Santa, and White Elephant. Here’s how.

The Internal Revenue Service has ramped up its efforts to recover unpaid taxes from millionaires. It collected more than US$1.1 billion from 1,600 wealthy Americans with known but unpaid tax debts in the 2024 fiscal year, up from just $38 million a year earlier.

Students can now begin filing their FAFSA applications and send their information to up to 20 colleges to determine the amount that they may receive as a grant for the upcoming academic year.

Students can now begin filing their FAFSA applications and send their information to up to 20 colleges to determine the amount that they may receive as a grant for the upcoming academic year.

Spoiler alert: It's the secret weapon of savvy real estate investors. Here's how it works and details about the tools you need to do it.

Your traditional IRA has served you well, but when your heirs inherit it, watch out. Consider some of these strategies to minimize their tax burdens.

The simple answer is a question: How complex are your taxes? Here's how you can decide whether you can go the easy route or need the help of a pro.