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Tax Tips

Money

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%.

Money

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.

Money

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.

Money

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.

Personal Finance

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.

Personal Finance

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.

Technology

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.

Personal Finance

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.

Personal Finance

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.

Money

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.

Money

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.

Money

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.

Personal Finance

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.

Tech

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.

Money

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.

Popular tax companies you can file with and how much each of them cost

There are numerous tax companies like TurboTax, Jackson Hewitt, H&R Block and Cash App Taxes that all offer different rates and services for customers.

How to file your 2023 taxes and get the most out of your return

If you're trying to receive the most money from your tax returns this year, the Marks Group president and CPA Gene Marks gives best filing tips for individuals and businesses.

Tax season 2023: How to get the most from your return

The Marks Group President and CPA Gene Marks discusses fiscal benefits of IRA contributions, stock wash sales and small business tax filings.

Last-minute tax tricks to help save you money this year

University of San Diego finance professor Dan Roccato provides tax tips that could help reduce your tax bill in 2023 on 'The Big Money Show.'

Lifestyle

Tax season: How to avoid scams when filing your taxes and other expert tips

Ramsey Solutions personal finance expert Rachel Cruze joined 'Fox & Friends" on Monday, March 7, to share advice on getting the most out of your tax return.

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