Every year, retirees who did everything right during their working lives are tripping over a little-known IRS rule and paying ...

When writing about taxation of retirement accounts, I've referred to IRS Publication 590- B many times, as it provides guidelines to taxpayers for handling required minimum distributions from ...

Required minimum distributions (RMDs) vary based on your age and account balance. You can avoid taxes on your RMD by giving it to a charity. The money must be transferred directly from your account to ...

You loved the tax break you got when you made retirement account contributions. But now that you're old enough for required minimum distributions (RMDs), you might wish you had gotten the taxes out of ...

The longest government shutdown in U.S. history is now over. The backlog of work, however, remains. As the IRS scrambles to get back to business as usual, taxpayers should expect delays. The ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Many people will soon be filing their 2024 tax returns by the ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The AICPA recommended in a letter that the IRS improve several tax forms used by estates and trusts, in keeping with an executive order mandating that federal tax payments and refunds be processed ...

The IRS continues to roll out drafts of some 2026 tax forms, including a draft of Form W-9, Request for Taxpayer Identification Number and Certification. Here’s a look at what’s new—and why it matters ...

The IRS on Friday released a draft of Schedule 1-A (Form 1040), Additional Deductions, which includes sections for calculating four deductions allowed under H.R. 1, P.L. 119-21, commonly known as the ...