As part of the One, Big, Beautiful Bill Act, taxpayers are entitled to a tax deduction on “qualified overtime” and “qualified tips” received during tax years 2025 through 2028. The following is a ...

A new tax deduction for tip income is available for 2025 federal income tax returns. Learn the new form to file, who qualifies, and income limits.

WASHINGTON — If you used popular payment apps like PayPal, Venmo or Cash App in 2025, here’s a tax rule you should know before filing your taxes. These apps help people send and receive money, but the ...

GREENSBORO, N.C. — $1,000 deposited into a bank account, and all you have to do is fill out a tax form? It's true. “We are finding it from the government for children that are born in 2025,” said ...

The enhanced deduction for seniors applies on 2025 tax returns to adults born before Jan. 2, 1961. If you're 65 or older now, you can claim an additional deduction of up to $6,000 or $125,000 for ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Incorrect IRS Forms 1099 are a worry, since Forms 1099 generally ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Owners of rental properties, take note: your reporting ...

Form 4547, which allows taxpayers to elect the new Trump accounts, was clearly numbered with purpose. But when it comes to 1040s, W-2s, 1099s, and other familiar forms, the explanation is far less ...

Reporting cryptocurrency on your taxes is changing for the 2026 tax season. This year, the IRS is introducing a new dedicated crypto tax form called 1099-DA for all "digital asset proceeds from broker ...

As tax season kicks off, families with minor children can now register for Trump accounts. To open the account, an election must be made on IRS Form 4547. Form 4547 can be filed separately or with ...

Got your W-2s ready? Today, the IRS will begin accepting 2025 tax returns for the 2026 tax filing season. “The Internal Revenue Service is ready to help taxpayers meet their tax filing and payment ...

Forbes contributors publish independent expert analyses and insights. Admitted NY Bar and US Tax Court, covers US international tax law. IRS new Form 708 enforces a 40% transfer tax on U.S. recipients ...