The Latest Breaking News from IRS

Are credit card rewards taxable? It’s a question that might cross your mind as you're racking up points, miles, or cash back. After all, who doesn’t love a little extra something for their everyday spending? But when tax season rolls around, it's natural to wonder if those perks come with…

Now you can get a tax deduction or reimbursement for certain medical expenses, like over-the-counter birth control and condoms.

Adjustments to the extra standard deduction can impact the tax bills of millions of older adults.

Due to a new tax law and annual IRS inflation adjustments, adoption tax credit amounts are being increased.

Police are investigating flyers left for Kamala Harris supporters, claiming they are in a "national database" and will be audited by the IRS when "Donald Trump assumes the Presidency again."

The IRS increased the exemption before the GOP tax bill dropped. Find out how the plan could permanently change the threshold for estate taxes.

In addition to higher standard deductions, the IRS has proposed several other significant changes for 2025. Notable adjustments include updates to long-term capital gains brackets, estate and gift tax exemption limits, and eligibility criteria for the child tax credit.

Notable adjustments include updates to long-term capital gains brackets, estate and gift tax exemption limits and eligibility criteria for the child tax credit.

An LLC can prevent problems with assets within the LLC from affecting assets outside the LLC, but there are limits to asset protection.