The IRS issued guidance for workers eligible to claim the temporary deductions for tip and overtime compensation for tax year 2025 and is updating some income tax forms and instructions to help ...

The IRS released new guidance for no tax on tips and overtime deductions under the One Big Beautiful Bill Act. Eligible ...

The IRS has released drafts of some 2026 tax forms, including a draft of Form W-2. The changes are intended to address tax reporting updates, particularly for tipped and overtime workers. Wondering ...

Draft instructions for Form 6765, "Credit for Increasing Research Activities," a.k.a. the research credit, are available for comment. The Internal Revenue Service is seeking feedback on the draft ...

Millions of Americans who rely on tips and/or overtime to bolster their income could be impacted by the new advice.

The IRS Form 1040 is the primary document used by taxpayers in the United States to file their annual income tax returns. It serves as a comprehensive summary of your financial year, detailing all ...

The AICPA on Thursday sent a letter to the IRS with recommendations to two areas of new instructions to Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent. The AICPA ...

Businesses that need extra time to file their tax returns can request an automatic extension using IRS Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, ...

The Internal Revenue Service issued guidance Friday for workers eligible to claim the deduction for tips and overtime income for tax year 2025. Notice 2025-69 provides clarification on how to ...