Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Composite by ...

With the federal tax return deadline on the horizon, many of us have taxes on our minds. If you haven't filed your return yet, you might be considering a tax extension. Filing for an extension allows ...

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 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 ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

KANSAS CITY, Mo. — The Internal Revenue Service (IRS) is holding a hiring event to fill more than 220 vacancies at its Kansas City, Kansas, service center. This event is open to the public. The event ...

The Internal Revenue Service (IRS) has issued an automatic tax extension for individuals and businesses located in areas affected by disasters in 2024. This extension aims to provide relief to those ...

The IRS, which has lost about 25% of its workforce this year, is moving to fill some jobs by various means, including asking employees who accepted deferred resignations if they want to stay on the ...

The IRS is on its seventh commissioner of the year, has lost one-quarter of its staff and is faced with implementing a raft of new regulations. Whether and how this turmoil could affect Americans ...

Secretary of the Treasury Scott Bessent will run the IRS on a temporary basis, becoming the seventh person to run the shrinking tax agency this year. Long was just sworn in on June 16, 2025. President ...