The IRS could face another budget cut this year. The House recently passed legislation that would reduce funding for the tax agency by approximately $1.1 b...
The IRS confirmed that the one-time supplemental housing payments issued to uniformed service members in December 2025 aren’t subject to federal income t...
On Jan. 16, the U.S. Dept. of Education announced a temporary delay of involuntary collections on defaulted federal student loans. For now, borrowers who a...
After divorce or legal separation, IRS rules determine which parent can claim many child-related federal income tax breaks. Generally, the parent with whom...
In general, companies can deduct rent as a business expense on their federal tax return. However, several rules limit this tax break. For example, payments...
Eligible workers can claim new federal income tax deductions on their 2025 returns for qualified tip income (up to $25,000) and qualified overtime premiums...
The House Ways and Means Committee has advanced a bipartisan bill that would require the IRS to modernize its digital processing technology for tax returns...
The Internal Revenue Service Advisory Council (IRSAC) has published its annual public report, which provides recommendations to the IRS on current and emer...
On Jan. 14, the IRS released guidance on changes to the additional first-year depreciation deduction. Also known as bonus depreciation, this break was incr...
At the recent D.C. Bar Tax Conference, former IRS and U.S. Justice Dept. officials warned about challenges during the upcoming tax filing season. One chall...
