Tax refunds up from 2023; most Americans plan to pay down debt or save
A new Bank of America Institute report found that taxpayers' refund checks will on average be about 5% larger compared to a year ago, with most planning to pay debt or save the refund.
The IRS has $1B in unclaimed federal tax refunds. Time is running out to collect it
The IRS said more than $1 billion in unclaimed refunds for the 2020 filing year are still possible for eligible filers to claim, but time is running out.
Tax refunds are nearly 29% lower so far this year, IRS data shows
Early tax filers are seeing smaller tax refunds in 2024, according to IRS data.
TurboTax, H&R Block and more tax companies you can e-file with in 2024
Tax companies like TurboTax, Jackson Hewitt, H&R Block and Cash App Taxes are popular to file with. They all offer different rates and services for customers.
The IRS has delivered 20M tax refunds so far. This is the average amount
The IRS has provided an early glimpse at tax refund data, revealing just how much money taxpayers can expect to receive from Uncle Sam this filing season.
You could face a nasty tax shock in 2024
Americans who fail to make on-time and accurate estimated quarterly tax payments could be hit with a surprise bill after the IRS penalty jumped to 8%.
How you can pay a 0% tax rate on capital gains
The 0% tax on long-term capital gains can amount to serious savings for taxpayers, but it's a complicated and often overlooked aspect of the U.S. tax code.
Your tax bill could be much lower this year – here's why
The IRS makes annual adjustments to the federal income tax bracket in order to account for inflation, which allows Americans to boost their take-home pay.
Tax refunds are much smaller so far this year, IRS says
Early data published by the IRS indicates the average tax refund is worth about $1,395 so far this year, a sharp drop from the 2023 filing season.
Here's how Americans plan to spend their tax refunds
Most taxpayers expecting a refund this year say they plan on spending on all of it, with more than a third saying the money will go toward paying off debt.
House passes $78 billion tax bill expanding the child tax credit, its fate in the Senate remains to be seen
The child tax deduction expansion would make more of the credit refundable, helping millions of families.
Microsoft's AI engine powering H&R Block's tax filing assistance product
Microsoft and H&R Block partnered to develop the accounting firm's AI Tax Assist tool, which leverages generative AI to help do-it-yourself tax filers prepare their returns.
Made money on Venmo or PayPal last year? What you need to know about your taxes
A controversial new tax-reporting policy involving payments on e-commerce platforms like eBay and Etsy will begin to go into effect in 2024, the IRS said.
Tax season has officially started: Here's everything you need to know before filing
The IRS said that tax season officially begins on Monday, Jan. 29. Here is everything that individual taxpayers need to know before filing their returns.
IRS to start simplifying notices to taxpayers this year
The IRS said Tuesday that it will simplify the "difficult to understand" notices that it sends to taxpayers as part of the $80 billion modernization push.
Remote workers face a double taxation threat
The number of Americans working from home has surged, but remote workers in five states face a potential tax shock this tax-filing season from the IRS.
New IRS tax brackets take effect in 2024, meaning your paycheck could be bigger next year
The IRS adjusted the income limits for the different tax brackets in the 2024 tax year as still-high inflation continues to squeeze Americans financially.
New IRS 401(k), IRA contribution limits a win if you need catching up
The IRS has announced new contribution limits for 401(k) plans, as well as an ammendent to IRA catch-up contribution limits, both of which can help workers reach their retirement goals faster.
Biden administration proposes crypto tax regulations in new reform
President Biden's administration is seeking to update United States regulations to crack down on the widespread use of cryptocurrency for tax evasion purposes.
Why Americans aren't rushing to file taxes
Tax pros say the end of federal COVID-19 stimulus money is prompting many Americans to file income tax extensions instead of rushing to file their Form 1040s with the IRS.