Taxes

The IRS is raising the interest penalty for underpayment of estimated taxes, with taxpayers who are self-employed or work as independent contractors urged to be vigilant.

In 2021, Democrats lowered the reporting threshold for online transactions to an unreasonably low level of $600 or more – and Congress had until Dec. 31 to fix this error.

A controversial new tax-reporting policy involving payments over $600 on e-commerce platforms like eBay and Etsy will be delayed by one year, the IRS said.

FOX Business' Stuart Varney criticized the left's "tax the rich" agenda on wealthy Americans, arguing the policy pushing billionaires to exit Democrat-run cities.

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.

The IRS on Thursday announced the new income limits for the different tax brackets as still-high inflation continues to squeeze Americans financially.

Treasury Secretary Janet Yellen condemned Republican efforts to claw back funding for the IRS in its effort to provide Israel with $14 billion in aid.

The IRS said Wednesday that it lifted the amount that workers can set aside for retirement in their 401(k), IRA and other tax-deferred plans next year.

Open enrollment is offered one time annually and permits most employees to review their healthcare coverage, plans and health savings accounts (HSAs) to maximize their physical, mental and financial well-being.