The 'One Big Beautiful Bill Act' (OBBBA), signed by President Trump on July 4, 2025, introduces a groundbreaking change for tip-earning workers: the ability to exempt a portion of their tip income ...

Americans saving for retirement will benefit from increased contribution limits for their 401(k) accounts in 2025, following a decision by the IRS. However, these adjustments come alongside the ...

The U.S. Internal Revenue Service is using billions of dollars in new funding to launch a new strategic operating plan to transform and improve is tax services over the next ten years.

IRS plans another major change, raising alarm bells According to a new report from AP News, the IRS is contemplating cutting half its workforce through layoffs, incentivized buyouts, and attrition ...

For individuals, the new maximum will be $14,600 for 2024, up from $13,850, the IRS said. Heads of households will see their standard deduction jump to $21,900 in 2024, up from $20,800. Tax ...

The Internal Revenue Service is moving ahead with its plan to build its own free tax filing program, announcing Tuesday that a pilot version will be available to some taxpayers in 13 states next year.

The IRS says filings for large pass-through businesses used for the type of tax avoidance in the guidance increased 70% from 174,100 in 2010 to 297,400 in 2019.

Internal Revenue Service taxes forms are seen, Feb. 13, 2019. Keith Srakocic/AP, FILE With tax season set to kick off next week, the IRS is launching a new initiative to redesign and simplify ...

The IRS plans to end a major tax loophole for wealthy taxpayers that could raise more than $50 billion in revenue over the next decade, the U.S. Treasury Department says.

The IRS says the new "Simple Notice Initiative" builds on a previous effort to improve paperless processing, making it easier for taxpayers to submit documents online. The 2024 tax filing season ...