My daughter has her heart set on attending a Canadian college. Will my 529 account still receive the tax benefits?
'If we withdraw from the 529 and pay tuition and room and board at this school, will this be considered a qualified withdrawal?'
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IRS says people in most states who got inflation-relief payments don’t have to report them on their taxes
The IRS is not going to tax payments from most of the states that cut checks to residents last year in order to help them defray rising living costs.
Are state ‘inflation relief’ checks taxable? The IRS is deciding that now. Read this before filing.
Approximately 20 states authorized one-time payments to residents in the face of high inflation.
The IRS audits Black taxpayers at far higher rates, study says
'Black taxpayers are audited at 2.9 to 4.7 times the rate of non-Black taxpayers,' researchers from Stanford University and the Treasury Department say.
‘Taxpayers bring their racial identity onto their 1040’: White families are reaping over 90% of the benefit from this powerful tax rule
A new Treasury Department analysis comes during the start of the 2023 tax filing season.
IRS says customer service will improve this year. But a big test lies ahead.
One woman told MarketWatch she was on hold with the IRS for 7 hours last year
IRS is creating a blueprint on how to spend $80 billion. Here are some early details on how these extra funds will change tax season.
Tax season kicks off Jan. 23 and the IRS is hoping for a smoother experience.
When can you file taxes in 2023? Tax Day will be different this year. Put these dates on your calendar.
Two-thirds of households received income-tax refunds last year, IRS statistics show.
IRS wraps up paying people this lucrative pandemic-era tax break. Here’s how much money they can expect — and why they’re getting it.
The IRS corrected 14 million tax returns and the fixes resulted in nearly 12 million refunds.
Is driving a big part of your business? Good news: IRS increases tax-deductible mileage rate. Here’s how much you can deduct.
The annual increase comes after a rare mid-year increase last year.
Brace yourself: Your tax refund could shrink in 2023. Here’s why.
A constantly changing tax code makes it hard for families to plan their financial lives, one expert says.
After Democrats release Trump’s tax returns, CPAs have questions: ‘In order to generate these kinds of losses, you need to be super rich. It’s not a poor man’s game.’
Former President Donald Trump and his wife, Melania, paid $0 in income taxes for 2020.
With this simple year-end change to your retirement accounts, you can reap significant tax rewards
‘Average tax rates are significantly lower than most people realize,’ writes Kevin Caldwell, principal at Golden Road Advisors in Tampa, Fla.
IRS pauses rule requiring people to report PayPal, Venmo transactions over $600. Here’s what went wrong.
The IRS is delaying a rule that would have required e-commerce sites and payment platforms to send out tax paperwork to a much wider swath of people in 2023.
Attention gig workers and businesses: a deadline for pandemic-era tax relief is coming this month
The clock is ticking on payroll taxes that some were allowed to skip during the early pandemic.
New tax rule affecting eBay, Venmo and Etsy could cause ‘significant confusion,’ accountants group says
A group of e-commerce companies and pay platforms have already been voicing concern about Form 1099-K.
Cryptocurrency investor losses are being turned into IRS gains — here’s how they’re doing it
Bitcoin's value is off more than 60% year to date.
With 51-49 Senate majority, some Democratic lawmakers push for second round of enhanced child tax credits
‘If we can provide tax cuts for America’s corporations, we can certainly provide a tax cut for America’s kids,' Rep. Rosa DeLauro of Connecticut said.
Government watchdog finds no misconduct or ‘malicious code’ after IRS selected former FBI officials James Comey and Andrew McCabe for tax audits
The New York Times reported in July that the former Federal Bureau of Investigation officials were both audited by the IRS.
‘Voters are looking for help’: With control of Congress too early to call, here are 3 burning tax questions
California voters rejected a millionaires' tax, while voters in Massachusetts backed their own surtax on households making over $1 million.
IRS loses $500 billion a year to unpaid taxes — but it’s about to invest $80 billion in administration and enforcement
That shortfall was fueled by three things: nonfiling, underpayment and, the most significant of the three, underreporting.
