Keyword "Tax planning" - List of latest news (308 results)

20:25 Trump says 'there is a chance' tariff revenue could replace the income tax. Economists are skeptical

President Donald Trump said "there is a chance" that tariff revenue could replace the federal income tax. Here's what economists say.

17/04 How to turn your stock market losses into a tax-savings windfall

Performing a Roth conversion could be a silver lining for investors facing steep losses in stocks.

17/04 IRS' free tax filing program is at risk amid Trump scrutiny

The IRS free tax filing program is at risk amid scrutiny from the Trump administration. Here's what taxpayers need to know.

16/04 Before filing ITR, solve the confusion between Old and New Tax Regim, know which right option for you?

There are many questions about tax regime for FY 2024-25? We have told about the difference between the Old and New Tax Regies here, the tax slabs, discounts, and the rebets. You will be helpful in understanding which tax regime will be better for you.

14/04 There's another surprise tax deadline on April 15. Here's how to avoid penalties, experts say

The first-quarter estimated tax deadline for 2025 is April 15, which is also the federal tax due date for most filers. Here's how to avoid penalties.

11/04 Can't pay your taxes by April 15? You have options, IRS says

You have options if you can't pay your taxes by April 15, according to the IRS. Here's what taxpayers need to know.

11/04 Chaotic week for markets is a ‘textbook example of why you stick to your plan,’ financial advisors say

This week's volatility sent investors on a wild ride, but the ones who fare best in the long run have a plan and follow it.

10/04 What advisors are telling their clients after the latest bond market sell-off

As investors digest the latest bond market sell-off, advisors have tips about portfolio allocation amid continued market volatility.

09/04 See if you qualify for the $1,400 IRS stimulus check before the deadline

There's still time to claim the $1,400 IRS stimulus check by April 15. Here's how to check on the status of your payment.

08/04 This tax strategy is a 'silver lining' amid tariff volatility, advisor says. Here's how to use it

Amid tariff volatility, investors could leverage tax-loss harvesting, which uses losses to offset other portfolio gains. Here's what to know about the strategy.

07/04 Don't miss these tax strategies during the tariff sell-off, experts say

The latest stock market sell-off could offer tax planning strategies, experts say. Here's what to know.

04/04 'You're running out of time' to claim an IRS stimulus check, tax expert says

The last chance to claim your IRS stimulus check is April 15. Here's how to collect your payment.

03/04 Here's how to file for a free tax extension in minutes if you can't make the April 15 deadline

You can file for a free tax extension in minutes if you can't make the April 15 deadline. Here's what taxpayers need to know.

31/03 Military families are 'making a mistake' if they skip this tax-free retirement account, advisor says

Members of the U.S. armed forces qualify for special tax breaks, which can offer unique financial planning opportunities, experts say. Here's what to know.

29/03 These big inherited IRA mistakes can shrink your windfall — here's how to avoid them

If you've inherited an individual retirement account, costly mistakes could shrink your balance. Here's how to preserve your windfall, according to experts.

26/03 Ramp up portfolio income – and save on taxes – with these assets

Portfolio returns are harder to come by these days, but eagle-eyed investors may be able to spot a few tax savings opportunities.

25/03 How the bucketing strategy protects retiree portfolios during a market downturn, experts say

The bucketing strategy can help protect your retirement portfolio during a stock market downturn, experts say. Here's what investors need to know.

24/03 This inherited IRA rule change for 2025 could trigger a 25% tax penalty

There's an inherited IRA rule change for 2025 that could trigger a 25% tax penalty for certain heirs. Here's what investors need to know.

20/03 There's a 'danger zone' for retirees when the stock market dips. How to shield your portfolio.

Negative returns are more harmful early in retirement than later, according to a 2024 report from Fidelity Investments.

18/03 There can be a 'survivor's penalty' after a spouse dies — here’s how to avoid it

After your spouse dies, you could face a surprise higher tax bill, financial experts say. But it's possible to prepare with advanced planning.

14/03 This retirement account is an ‘IOU to the IRS’ — but here’s when it makes sense, expert says

Your pre-tax IRA is subject to future income taxes, depending on your bracket. But it could offer planning opportunities, experts say.

14/03 Military families have special tax breaks — but the rules can be tricky, experts say

Many members of the U.S. military qualify for special tax breaks that aren't available to other Americans. Here's what to know about eligibility.

12/03 The state and local tax deduction could change amid Trump's tax cuts debate. Here's what to know

The state and local tax deduction could change in 2025 as lawmakers debate Trump's tax cuts. Here's what to know.

11/03 'Wealthy tax dodgers' could benefit from IRS layoffs, Democrats warn

Democrats says "wealthy tax dodgers" could see less IRS scrutiny amid agency layoffs. Here's what to know.

08/03 These accounts can be the 'worst possible asset’ for retirement, expert says. Here's why

Many investors don't plan for future taxes when contributing to traditional IRAs. Here are the key things to know.

07/03 This retirement strategy is a 'game changer' for single-income, married couples, advisor says

If you're a single-income, married couple, you could use a spousal IRA to save more for retirement. Here's what to know.

03/03 Treasury Department suspends enforcement of ownership information reporting for millions of businesses

The Treasury Department has halted enforcement of beneficial ownership information, or BOI, reporting for millions of businesses.

28/02 As the price of bitcoin falls, you can leverage this tax 'loophole,' experts say

With the price of bitcoin down from a record high in January, there could be opportunities for a tax break, experts say.

25/02 The average IRS tax refund is more than 32% lower this season, early filing data shows. Here's why

The average IRS tax refund is more than 32% lower this season, according to early filing data. Here's what to know.

24/02 This tax break for lower-income retirement savers is a 'well-kept secret,' expert says

The retirement savings contributions credit, or saver's credit, can help offset funds added to retirement accounts. But most taxpayers don't claim it.

21/02 Don't wait to file your taxes this season, experts say. Here's why

Nearly one-third of Americans procrastinate filing their taxes. But here's why you shouldn't wait this season, experts say.

20/02 Investors are flocking to this higher-yielding tax-free corner of the bond market

High-yield muni bond funds and ETFs collected sizable inflows over the past year — and investors are getting attractive returns.

19/02 Converting your home to a rental could trigger a 'tax bomb' when you sell, advisor says

Converting your home to a rental could increase your taxes when you eventually sell the property. Here's what to know.

18/02 This lesser-known tax strategy could help to reduce capital gains on your home sale

Selling your home can trigger capital gains taxes, but there are ways to reduce or eliminate your bill, experts say. Here's what to know.

15/02 These red flags that can trigger an IRS tax audit are 'low hanging fruit,' expert says

Many filers worry about an IRS tax audit. Here are some of the top red flags, according to tax pros.

14/02 Here's the 'quick and dirty' way to withhold enough taxes from your paycheck, advisor says

If your tax bill or refund is bigger than expected, it may be time to adjust your paycheck withholding. Here's an easy way to do it.

14/02 You could see this tax form for the 'first time ever' this season, taxpayer advocate says

You could receive Form 1099-K for business payments from Venmo or PayPal this season. Here's what taxpayers need to know.

11/02 Home office deduction: Here's who qualifies and how to claim it on your taxes

The home office deduction could provide a tax break on your 2024 return. Here's who qualifies and how to claim it.

11/02 Watch out for this unexpected tax hit from your municipal bonds

Investors love municipal bonds' tax-free income, but the issues can bring some complexity around tax time.

10/02 A Roth IRA offers a 'longer runway for tax-free investing,' advisor says. Here's how to use it

Your Roth IRA offers more time for 'tax-free investing,' advisors says. Here's how to use it.

07/02 The IRS has issued 3.2 million tax refunds this year. Here’s the average payment

The IRS has issued 3.2 million tax refunds in 2025, as of Jan. 31. Here's the average payment.

07/02 Trump wants to end a popular Wall Street tax break. What to know about the 'carried interest loophole'

President Donald Trump wants to end the carried interest loophole. Here's how the tax break benefits Wall Street investment managers.

06/02 Lower earners can see ‘five-figure refunds’ from these tax credits, expert says. Here’s who qualifies

The earned income tax credit and additional child tax credit are "refundable," meaning filers can claim a refund without tax liability. Here's who qualifies.

05/02 'Where's my refund?' How to check the status of your federal tax refund

If you've filed your tax return and you're eager for your refund, here's how to check the status of your payment. Find out when to expect your refund.

05/02 Could Trump's tariffs replace the income tax? Here's what policy experts say

During the campaign, President Donald Trump floated an "all tariff policy" to replace the federal income tax. Here's what experts say about the idea.

03/02 Nearly 1 in 5 eligible taxpayers miss this 'valuable credit' worth thousands, IRS says

Nearly 1 in 5 eligible taxpayers miss the earned income tax credit, which was worth an average of $2,743 in 2023, according to the IRS.

30/01 These child tax credit mistakes can halt your refund, experts say

It's easy to make child tax credit mistakes when filing your return. Here are common errors that could delay your refund.

29/01 Your tax return could be 'flagged for audit' without these key forms, experts say

The agency has “very sophisticated software” that compares information returns to what’s reported on your filing.

28/01 Big interest income in 2024 leads to hefty taxes in April. Prepare for tax filing season

Certificates of deposit and high-yield savings accounts paid out handsomely in 2024, but investors now face the tax bill.

28/01 Tax season has opened: Here are key things to know before you file your taxes

The 2025 tax season opened for individual filers on Jan. 27. Here are some key things to know before filing your return.

27/01 Here's how to get the 'fastest refund possible' as tax season opens, experts say

Tax season opens on Jan. 27. Here's how to get a faster tax refund this season, according to experts.

25/01 If you’re nearing retirement, these 2025 changes could affect your finances. Here’s what to know

Starting in 2025, there’s a higher 401(k) plan catch-up contribution for workers ages 60 to 63.

24/01 Tax refunds may see modest upside this season — and these stocks could benefit, Wolfe says

Tax season officially starts on Monday, and a group of stocks may get a boost if refunds come in higher, the firm said.

23/01 Vanguard's $106 million target-date fund settlement offers a key lesson about taxes

Investors can boost their after-tax returns by pairing assets with taxable accounts or tax-advantaged retirement accounts like 401(k) plans and IRAs.

22/01 There's a 'big change' for inherited IRAs in 2025, advisor says. Here's how to avoid a penalty

If you have an inherited IRA, there's a key change for 2025 that heirs need to know. Here's how to avoid a penalty.

22/01 Investors may be able to file taxes for free this season. Here's who qualifies

This season, investors may have more options to file taxes for free. Here's who is eligible for the programs.

21/01 This free tax filing option is 'fast and simple,' IRS says. Here's who can use it

Roughly 70% of taxpayers are eligible for IRS Free File. Here's how to know if you qualify.

17/01 IRS' free Direct File program expands to 25 states — but still faces Republican scrutiny

Direct File, the IRS’ free tax filing program, has expanded to 25 states for 2025. But the program's future remains uncertain amid Republican scrutiny.

16/01 Here's how the child tax credit could change in 2025

The increased child tax credit could expire after 2025 without action from Congress. Here's what families need to know.

15/01 House Republicans push to extend Trump tax cuts amid Democratic pushback

House Republicans are pushing for extensions of the 2017 tax cuts enacted by President-elect Donald Trump. Here's what to know.

13/01 30 million people could qualify to use IRS free Direct File program — here's who is eligible

The IRS free Direct File program opens on Jan. 27 for taxpayers in 25 states. Here's who qualifies for the 2025 tax season.

10/01 IRS announces the start of the 2025 tax season

The 2025 tax season will begin on Jan. 27 for individual taxpayers. Here are some options to file your 2024 taxes for free.

09/01 IRS: Missing final 2024 quarterly estimated tax payment could trigger 'unexpected penalties'

The fourth-quarter estimated tax payment for 2024 is Jan. 15. Here's how to avoid "unexpected penalties," according to the IRS.

08/01 Taxpayer Advocate urges Congress to preserve IRS funding for service, technology

The National Taxpayer Advocate has urged Congress to preserve IRS funding for taxpayer service and technology amid Republican scrutiny.

07/01 Tax bracket changes could mean your paycheck is slightly bigger in 2025 — here's what to know

Your paycheck could be slightly bigger in 2025 due to IRS inflation adjustments to the federal income tax brackets. Here's what to know.

07/01 As student loan bills become a normal part of life again, tax break will be available to many

There's one upside to your student loan payments: They might qualify you for a tax break.

06/01 This 401(k) plan feature is a 'green light to contribute aggressively,' advisor says

If you're eager to max out your 401(k) early in 2025, you could miss part of your employer's matching contribution without the "true-up" feature.

30/12 Pension inheritance tax warning as 8.5m Brits unaware of new rule

Two-fifths of UK adults aged 55 or over are unaware of new rules allowing pension cash to become subject to inheritance tax (IHT).

18/12 Here's what to know before 'taking some risk off the table' with bitcoin profits, advisor says

The price of bitcoin sailed past $100,000 in early December and is up more than 130% year to date. Here's how to decide whether to rebalance.

17/12 A new 'super funding' limit for some 401(k) savers goes into effect in 2025. Here's how to take advantage

There's a higher 401(k) contribution limit for 2025. Here's why you should update your account now, financial experts say.

16/12 There's still time to slash your 2024 tax bill with these last-minute moves

You still have time to lower your 2024 tax bill or boost your refund before January, according to financial advisors. Here's what investors need to know.

16/12 Are you facing a Dec. 31 use-it-or-lose-it deadline with your flexible spending account? Here’s what to know

If you have a flexible spending account, you could be facing a Dec. 31 deadline to spend those funds before the end of the year.

14/12 Trump's tax plan is uncertain for 2025 — here are key lessons from his 2017 tax overhaul

Trillions in Trump's tax cuts will expire after 2025 without action from Congress. Here are key lessons from his 2017 tax overhaul.

13/12 This is the best tax bracket for a Roth IRA conversion, advisors say

If you’re eyeing a Roth conversion, your tax bracket could help decide whether the transfer makes sense. Here’s what to know, according to financial experts.

11/12 Bitcoin bonanza: Your tax reporting could get complicated in 2025

New accounting rules are set to kick in on Jan. 1, and investors need to prepare.

11/12 A Santa Claus rally may soon be coming to town — why it happens and what it means for investors like us

In our latest mailbag, we explain the forces behind the Santa Claus rally and what it means for regular investors like us.

11/12 IRS: There's a key deadline approaching for required minimum distributions

If you're age 73 or older and retired, the annual deadline for required minimum distributions, or RMDs, is approaching. Here's what investors need to know.

09/12 Amazon is bringing Intuit QuickBooks software to its millions of third-party sellers

Amazon's marketplace sellers will be able to bring their expense, inventory and tax data into Intuit QuickBooks through a new integration.

09/12 That Roth IRA conversion comes with a tax bill — here's how to pay for it

If you're eyeing a year-end Roth IRA conversion, you'll need to plan for the upfront tax bill. Here are some strategies to manage your taxes, experts say.

06/12 Here's what to know before taking your first required minimum distribution

Most retirees must begin required minimum distributions at age 73. Here's what to know before making your first withdrawal.

06/12 Trump's nominee for IRS commissioner, former congressman Billy Long, receives mixed response from Washington, tax community

President-elect Donald Trump will nominate former Missouri congressman Billy Long for IRS commissioner, which has received a mixed response.

04/12 You could score a tax break by gifting crypto to charity — but there may be some pitfalls

There's been a surge of crypto donations to charity. Here's what to know before transferring digital currency.

04/12 Investors' crypto donations to charity skyrocket. Why it can be 'hugely beneficial,' expert says

There's soaring interest in donating crypto to charity, according to Fidelity Charitable. Here's how those donations can pay off at tax time.

03/12 Ramp up tax savings for the holiday season with these strategies

Don't forget your favorite charities as you splurge on the holidays.

03/12 'Everyone wins except the IRS' with this legal charitable donation strategy, advisor says

If you're donating money on Giving Tuesday, you may score a bigger tax break by gifting profitable investments. Here's what to know.

27/11 This charitable giving strategy 'almost always' provides the biggest tax break, advisor says

If you're retired and planning a year-end charitable gift, you can boost your tax break with a qualified charitable distribution, or QCD. Here's what to know.

26/11 Trump’s tax proposals are a step closer to reality. Here’s what it means for your portfolio

A Republican sweep in Washington could mean that the tax cuts that went into effect in 2018 have a chance of sticking around.

26/11 Here's how to maximize your tax breaks for charitable giving

If you're making a gift to charity on Giving Tuesday or over the holiday season, there are ways to maximize your tax break. Here's what to know before donating.

25/11 Warren Buffett suggests all parents do one thing before they die, whether they have 'modest or staggering wealth'

Warren Buffett has advice for all parents, regardless of their wealth: Let your adult children read your will before you sign it.

24/11 These key 401(k) plan changes are coming in 2025. Here’s what savers need to know.

Starting in 2025, key 401(k) plan changes enacted via Secure 2.0 could make it easier to save for retirement, experts say.

21/11 Most employees don't leverage this 'triple-tax-free' account, advisor says. Here's how to use it

Most employees don't leverage the long-term tax benefits from their health savings account. Here's how to get triple-tax savings.

15/11 Here's why tax-loss harvesting can be easier with exchange-traded funds

If you're sitting on portfolio losses, you may consider tax-loss harvesting before year-end. Here's how to leverage exchange-traded funds with the strategy.

14/11 These mutual funds are about to drop a tax surprise in investors’ portfolios. How to prepare

Capital gains distribution season is upon us. Here's how investors can get ready for it.

13/11 The price of bitcoin is soaring. Here's a key move for investors to reduce future crypto taxes

The price of bitcoin is soaring. There's a key deadline for crypto investors to avoid a higher future tax bill.

11/11 Big retirement rule changes are coming in 2025 — here's how you can save more money

Starting in 2025, older workers can save even more for retirement via 401(k) catch-up contributions. Here's what investors need to know.

08/11 Demand for Roth IRA conversions may increase — even without tax hikes from President-elect Donald Trump

Income tax hikes are less likely under President-elect Donald Trump. But demand for Roth conversions could still increase, experts said.

06/11 Here's what a Trump presidency could mean for your taxes

Former President Donald Trump has defeated Vice President Kamala Harris to win the White House, which could broadly impact taxpayers. Here's what to know.

06/11 You could face the 'survivor's penalty' after a spouse dies — here's how to avoid it

Some retirees face a survivor's penalty on their taxes after a spouse dies. Here's how to prepare, advisors say.

05/11 The next U.S. president could face a tax battle in 2025 — here's what it means for investors

The next U.S. president could face a tax battle in 2025 over expiring tax breaks enacted by former President Donald Trump. Here's what it means for investors.

31/10 The stakes on tax policy are high as the election nears. Here’s how to prepare

It will take some time for significant changes to the tax law to emerge, but investors can take a few steps to ready their portfolios.

31/10 Treasury Department announces new Series I bond rate of 3.11% for the next six months

The U.S. Department of the Treasury has announced new Series I bond rates through April 2025.

29/10 Year-end Roth IRA conversions are popular — but don't wait too long, financial experts say

If you're weighing a year-end Roth IRA conversion, waiting too long could be risky, financial experts say. Here's what investors need to know.

28/10 There's still time to reduce your 2024 tax bill with these strategies

There’s still time to lower your taxes or boost your refund for 2024, financial experts say. Here are some strategies to consider before year-end.

25/10 Here's how to leverage higher income limits for the 0% capital gains bracket

Bigger earnings limits are coming for the 0% capital gains brackets in 2025. That could offer tax planning opportunities, financial experts say.

22/10 IRS announces bigger estate and gift tax exemption for 2025

The IRS has announced a higher estate and gift tax exemption for 2025. Here's what wealthy families need to know.

22/10 IRS announces new federal income tax brackets for 2025

The IRS has announced higher federal income tax brackets and standard deductions for 2025. Here's what taxpayers need to know.

21/10 Don't wait to find a tax preparer for 2025: Why one expert would '100% recommend starting now'

If you need a tax preparer for the 2025 filing season, now is the time to start looking, experts say. Here are the key things taxpayers need to know.

21/10 The tax code could be in for upheaval. How to prepare your portfolio, per Bank of America

Key provisions in the Tax Cuts and Jobs Act are slated to sunset at the end of 2025. The Wall Street bank has a few tips for investors to get ready.

16/10 Key change coming for 401(k) ‘max savers’ in 2025, expert says — here's what you need to know

There's a key change coming to 401(k) catch-up contributions in 2025. Here's who could be affected by the update, according to experts.

15/10 Here's what to do if you still can't pay taxes on the Oct. 15 tax extension deadline

The tax extension deadline is Oct. 15, but some disaster victims have more time to file. Here's what to know if you still can't pay your balance.

15/10 Some hurricane victims can get a tax break for losses — Here's what you need to know

Victims of Hurricanes Helene and Milton could get a tax deduction for losses. Here's how to qualify.

03/10 IRS free tax filing will be available in 24 states for the 2025 season — here's who can use it

The IRS free tax filing program will be available in 24 states for the 2025 season. Here's who can use Direct File.

01/10 Some investors can 'capital gain harvest' to avoid year-end mutual fund payouts, advisor says

If you're bracing for year-end mutual fund distributions, swapping assets for exchange-traded funds could sidestep the capital gains payout.

24/09 The tax extension deadline is Oct. 15 — here's what to do if you still can't pay your balance

The tax extension deadline is Oct. 15. But you have options if you still can't pay your balance, experts say. Here's what to know.

16/09 Save on taxes and bolster your portfolio before year-end with these moves

It’s only September, but it isn’t too early to take a few steps to ensure that your portfolio is tax efficient and prepared for the end of 2024.

13/09 Harris' rise in polls sparks wave of wealth transfers to kids

The scheduled “sunset” of a generous provision in the estate tax next year has taken on new urgency as the odds of a Democratic president have increased.

11/09 Avoid 'knee-jerk reactions' to candidates' proposed tax increases, financial advisors say. Here's why

With the election ramping up, investors may feel stressed by the flurry of tax policy proposals. Here's why you should avoid an emotional decision.

10/09 Harris wants to raise the top capital gains tax rate to 28%. How that compares to recent history

Vice President Kamala Harris last week proposed a 28% tax on long-term capital gains for top earners. Here's how that compares to historic rates.

09/09 As the IRS targets wealthy Americans for audits, here are red flags for everyday filers

The IRS is working on plans to avoid increased audits on taxpayers making less than $400,000 — but certain areas can invite scrutiny, regardless of income.

06/09 Harris wants a 28% capital gains tax rate for top earners. Here's what advisors are telling clients

Vice President Harris proposed a 28% tax on long-term capital gains for households making more than $1 million. Here's what financial advisors recommend.

05/09 These 2024 losing stocks are contenders for selling – and they can help cut taxes, Wolfe says

There are a few stocks that are sitting out the rally, and they could see further declines as investors dump them for tax-loss harvesting season, the firm says.

05/09 How high earners can funnel money to a Roth IRA, the 'gold standard' of retirement accounts

High earners may find it tricky to access tax breaks in individual retirement accounts. A workaround may help.

05/09 Here's what Harris’ plan to tax unrealized investment gains means for the wealthiest Americans

Vice President Harris has endorsed President Biden's plan to tax unrealized gains on wealth exceeding $100 million, also known as the billionaire minimum tax.

03/09 Younger retirees can face a 'phantom tax' on Marketplace health insurance — here's how to avoid it

Younger retirees can face a 'phantom tax' on Marketplace health insurance. Here's how to avoid it, according to financial experts.

26/08 Here's how to harvest 0% capital gains amid the latest stock market rally

You can leverage the 0% capital gains bracket to harvest profits, rebalance your portfolio or save on future taxes. Here's what investors need to know.

23/08 There's still time to max out 401(k) contributions for 2024 — but some investors shouldn't, experts say

There's still time to max out your 401(k) contributions for 2024, but not everyone should, according to financial advisors. Here's what investors need to know.

22/08 This strategy for required withdrawals in retirement can help you avoid IRS penalties

If you're retired with multiple sources of income, you need to pay taxes. But a required minimum distribution withholding strategy can help avoid IRS penalties.

21/08 Here's how to use required retirement withdrawals to improve your portfolio

After funneling money into pretax retirement accounts, you'll eventually face required minimum distributions. Here's how to use them to improve your portfolio.

20/08 Trump vs. Harris: Here's how the election could affect your taxes

Former President Donald Trump and Vice President Kamala Harris have each proposed economic policy that could affect your taxes. Here's what to know.

16/08 Harris calls for expanded child tax credit of up to $6,000 for families with newborns

Vice President Kamala Harris on Friday called for an expanded child tax credit, with up to a $6,000 tax break for one year for families with newborn children.

16/08 The probability of filing an inheritance tax return is 1 in 10, but who will be selected for the "inheritance tax audit"? [Explanation by a tax accountant]

Inheritance tax audits are not carried out on all those who have filed an inheritance tax return, but on approximately 1 in 10 people. So, what kind of people will be surveyed? Inheritance tax investigation: 1 in 10 people has an 85.7% chance of being subject to additional taxation According to the National Tax Agency's "Status of Inheritance Tax Investigations in the 2018 Business Year," there we

13/08 Trump and Harris both want no taxes on tips. Here's why policy experts don't like the idea

Former President Donald Trump and Vice President Kamala Harris both want to end taxes on tips. Here's why some policy experts don't like the idea.

12/08 Vance wants to raise the child tax credit to $5,000. Here's why that could be difficult

Sen. JD Vance, Former President Donald Trump's GOP running mate, wants to raise the child tax credit to $5,000. Here's why that could be difficult.

09/08 Trump wants to cut taxes on Social Security — but it could threaten benefits, experts say

Former President Donald Trump this week repeated his plan to eliminate taxes on Social Security benefits. But the plan could threaten entitlements, experts say.

07/08 Clean energy tax breaks more popular than expected, as U.S. households claimed $8.4 billion in Inflation Reduction Act credits for 2023, officials say

Two tax credits enhanced and extended by the Inflation Reduction Act are more popular than officials projected.

06/08 Here's how Kamala Harris' running mate Tim Walz could help shape the child tax credit

Vice President Kamala Harris picked Minnesota Gov. Tim Walz as her running mate, a choice that could highlight the child tax credit, experts say.

02/08 Kamala Harris' tax records reveal 'fairly basic' approach that may have missed savings, advisor says

As the de facto Democratic nominee, Vice President Kamala Harris' financial records are under fresh scrutiny. Here's what to know about her tax returns.

01/08 The expanded child tax credit failed in the Senate. Here's what it means for families

Senate Republicans on Thursday blocked legislation that would have expanded the child tax credit. Here's what it means for families.

01/08 Working remotely from a cruise ship? Here's why the IRS still expects taxes

In a post-pandemic world, working remotely is easier than ever. But if you choose to work from a cruise ship, you'll still incur federal income taxes.

30/07 Here are 3 smart crypto tax moves to consider — whether prices go up or down

It's difficult to predict future cryptocurrency prices amid political and economic uncertainty — but you can still make smart tax moves, experts say.

29/07 Bitcoin is up more than 50% this year — here are key crypto tax rules every investor should know

With the price of bitcoin up more than 50% for the year, there are some key crypto tax rules that investors need to know, according to experts.

22/07 Here's where Kamala Harris could stand on tax policy, experts say

With President Joe Biden officially out of the election, experts are watching for tax policy from Vice President Kamala Harris, the Democratic frontrunner.

22/07 Here's what a Kamala Harris administration could mean for your wallet

With Kamala Harris as the frontrunner to replace President Joe Biden as the Democratic nominee, here's what to know about where she stands on key money issues.

20/07 How Project 2025 could impact your tax bracket and capital gains under a second Trump term

Project 2025 could bring sweeping tax changes under a second Trump term. Here's what to know about proposed tax brackets, capital gains rates and more.

18/07 The election could have a 'massive impact' on the municipal bond market, analyst says

The election outcome and future policy could impact the municipal bond market. Here's what muni bond investors need to know.

16/07 The end of this tax break could be 'very disruptive' to business owners, expert says — what to know

The qualified business income deduction could expire after 2025 without changes from Congress. Here's what to know.

15/07 Lower capital gains tax, cuts to food benefits: What Project 2025 could mean for your wallet in a Trump presidency

Project 2025, a blueprint for the next Republican administration, proposes sweeping policy changes that would affect Americans' wallets.

11/07 Treasury, IRS announce 'major milestone' of $1 billion in past-due taxes collected from millionaires

The U.S. Department of the Treasury and IRS announced a "major milestone" of collecting more than $1 billion in past-due taxes from millionaires.

09/07 How a Roth conversion ladder can save on future taxes and unlock retirement funds early

A Roth conversion ladder is a multi-year strategy that can help save on future taxes and unlock retirement funds before age 59½. Here's what to know.

05/07 IRS has taken nearly 2 years to help tax identity theft victims get their refunds

Tax identity theft victims are waiting nearly two years for resolution and refunds from the IRS. But the agency is working on improvements.

03/07 This 'bucket strategy' could lower your taxes in retirement — here's how to maximize it

Most Americans aren't planning to reduce taxes on retirement income. Here's how the "bucket strategy" could help, experts say.

01/07 What the new IRS guidance on crypto tax reporting means for investors

The U.S. Department of the Treasury and IRS on Friday released final tax reporting rules for digital asset brokers. Here's what crypto investors need to know.

29/06 Here's what a Supreme Court ruling could mean for Biden's 'billionaire tax'

Here's what a recent Supreme Court ruling could mean for wealth tax proposals from President Joe Biden and other lawmakers.

28/06 Marketplace health insurance may get more expensive — unless Congress extends this tax break

The premium tax credit, which makes marketplace health insurance premiums more affordable, could become less generous after 2025. Here's what to know.

27/06 Trump and Biden's first presidential debate: Here's what to expect on taxes

President Joe Biden and former President Donald Trump will face off Thursday in the first presidential debate. Here's what to expect for tax policy.

25/06 Great savers could face a 'tax time bomb' in retirement, advisor says — here's how to avoid it

If you have a large pretax 401(k) or individual retirement account balance, you could face a future 'tax time bomb,' advisor says. Here's how to avoid it.

21/06 Supreme Court rejects challenge to tax on foreign investments — but avoids wealth tax debate

The Supreme Court on Thursday denied a challenge to a federal tax on foreign investments — but left questions about whether a wealth tax is constitutional.

18/06 Trump tax breaks are set to expire after 2025. Here's what advisors are telling their clients

Trillions in tax breaks enacted by former President Donald Trump are scheduled to expire after 2025. Here's how to prepare, according to financial advisors.

17/06 Treasury, IRS unveil plan to close ‘major tax loophole’ used by large partnerships

The Treasury Department and the IRS on Monday unveiled a plan to "close a major tax loophole" used by large, complex partnerships.

14/06 IRS: Taxpayers may avoid a penalty by making a second-quarter estimated payment by June 17

The second-quarter estimated tax deadline is June 17, and you could trigger a penalty if you don't send a payment, according to the IRS.

13/06 Top 10 Tax Saving Tips: People with salary income can easily save their tax in these 10 ways, know immediately

Kanpur (Internet Desk). Top 10 Tax Saving Tips: Saving tax has always been a challenge for all the people earning income from job. The reason for this is that very few salaried persons are able to take paid advice from a tax expert to save tax. Most of the people save their tax by watching online videos or taking advice from friends and file their ITR in the same way. In such a situation, their ta

13/06 Biden economic advisor unveils 'key principles' for tax policy plan ahead of expiring Trump tax cuts

President Joe Biden's top economic advisor unveiled plans to address the battle over trillions in expiring tax breaks enacted by former President Donald Trump.

13/06 Senate Democrats call for higher taxes on Wall Street profits to address federal budget deficit

As Congress wrestles with a decision over trillions in expiring tax breaks, some Democratic lawmakers are calling for higher taxes on Wall Street profits.

11/06 Biden and Trump both want to extend tax cuts for most Americans — but paying for it could be tricky

President Joe Biden and former President Donald Trump both want to extend expiring tax breaks. That could be tricky amid the federal budget deficit.

10/06 The tax deadline for American expats is June 17 — here are some key things to know

If you're living and working abroad, the tax deadline is June 17. Here's what American expats need to know.

08/06 Biden vs. Trump: Here's what the next president means for your taxes

Trillions in expiring tax breaks are at stake this election season. Here's how a Biden or Trump presidency could affect your taxes.

07/06 These tax strategies can be a 'silver lining' after a prolonged job layoff, advisor says

You could leverage tax planning strategies after unemployment if your income is lower in 2024, experts say. Here's what to know.

06/06 Mega backdoor Roth conversions can boost tax-free growth — if you avoid these mistakes

Mega backdoor Roth conversions can boost tax-free retirement savings. But it's easy to make mistakes, experts say.

05/06 You could lose money by maxing out your 401(k) plan early — unless it has this special feature

If you're maxing out your 401(k) early, you could miss part of your employer match without the true-up feature, experts say.

03/06 The average 401(k) savings rate recently hit a record — how to know if you're on track

The average 401(k) savings rate recently hit a record high. Here's how it compares to the recommended retirement savings rate.

31/05 Mega backdoor Roth conversions can be a 'no brainer' for higher earners, expert says

Mega backdoor Roth conversions can boost retirement savings for higher earners. Here's what to know about the strategy.

30/05 IRS free tax filing program to be available nationwide starting in 2025

The IRS will expand Direct File, its free tax filing program, nationwide starting in 2025, the agency and the U.S. Department of the Treasury announced.

28/05 Roth conversions are up in 2024 — but it's not always a 'slam dunk,' accountant says

There's an uptick in Roth conversions in 2024, according to Fidelity Investments. Here's how to know if the strategy is right for your portfolio.

27/05 You could score a tax break for hiring your own kids this summer — if you follow the rules

Hiring your kids can offer tax benefits if you're self-employed. But first, you need to understand your state and federal labor and tax laws.

23/05 This retirement account can be 'triple-tax efficient' for teens this summer, advisor says

Roth individual retirement accounts for kids can offer triple-tax benefits. Here's what parents need to know about opening an IRA for their children.

22/05 IRS extends Free File tax program through 2029

The IRS has extended the Free File program through 2029, which provides free tax prep software to most Americans. Free File remains open through Oct. 15.

21/05 The decision to sell your home vs. rent it out is 'complicated,' experts say — what to know

If you are sitting on a low-interest-rate mortgage and ready to move, you could face the decision of whether to sell or rent out your property.

18/05 Trump-era tax cuts set to expire after 2025 — here's what you need to know

Several tax cuts enacted by former President Donald Trump are set to expire after 2025 without changes from Congress. Here's how it could affect your wallet.

17/05 May 17 is the last chance to claim your 2020 tax refund — the median payment is $932, IRS says

May 17 is the deadline to claim your 2020 tax refund by filing your federal return. The median possible payment could be $932, according to the IRS.

16/05 Here are some options to reduce taxes on your savings interest this year

Here's how to reduce income taxes on your savings interest amid rate uncertainty from the Federal Reserve.

15/05 Warren Buffett thinks taxes are on the way up. Why selling stocks in advance may not be a good call

Preemptively trimming a stake in an appreciated stock may make sense for the billionaire investor's conglomerate, but may not be the best move for you.

13/05 Your home sale could trigger capital gains taxes — here's how to calculate your bill

Home prices are rising and selling your primary home could trigger capital gains taxes. Here's how to calculate your tax bill.

10/05 Biden plans for higher taxes on the ultra-wealthy and corporations to extend middle-class tax breaks

President Joe Biden's top economic advisor Lael Brainard is calling for higher taxes on the ultra-wealthy and corporations to pay for middle-class tax breaks.

09/05 IRS reminder: Time to claim $1 billion in tax refunds from 2020 expires on May 17

There is still $1 billion in unclaimed tax refunds from 2020, but the deadline to collect your payment is approaching. Here's what late filers need to know.

09/05 IRS boosts health savings account contribution limits for 2025

The IRS has increased the health savings account contribution limits for 2025. Here's how much you can deposit with a high-deductible health plan.

06/05 Here's how to avoid getting 'hammered' on inherited individual retirement account taxes, experts say

You could get "hammered" by taxes on your inherited individual retirement account, experts say. Here's how to minimize your liability.

04/05 You could 'miss the opportunity' with company stock, experts say. Here are the key things to know

Many companies offer stock compensation and employees "miss the opportunity." Here are key things to know about stock options, restricted stock units and more.

03/05 This 401(k) match change could have 'unintended consequences' at tax time, experts say

If you've opted into your employer's Roth 401(k) after-tax matching contribution, it could trigger a tax surprise, experts say. Here's what to know.

30/04 Legal way to pay a lot less tax

In today’s cost of living crisis, every dollar counts. Many people are struggling to keep up, let alone get ahead.

26/04 IRS free tax filing pilot processed more than 140,000 returns, saved consumers $5.6 million in prep fees

This season, the IRS Direct File pilot helped more than 140,000 million taxpayers file taxes for free and saved $5.6 million in tax prep fees.

23/04 Here's what to do if you missed the federal tax deadline

The federal tax deadline was April 15, and if you missed it, you should file and pay your balance as soon as possible to reduce penalties and interest.

23/04 Tax mistake five million Aussies make

Most people pay more tax than they need to because they make one common mistake when lodging their tax return. And it’s a simple one.

22/04 Here's what to know before withdrawing funds from inherited individual retirement accounts

If you've inherited an individual retirement account since 2020, you could have a shorter timeline to withdraw the money, which can trigger tax consequences.

19/04 IRS waives mandatory withdrawals from certain inherited individual retirement accounts — again

The IRS has again waived required minimum distributions for some inherited retirement accounts. Here's what heirs need to know for 2024.

17/04 Series I bonds are ‘still a good deal’ despite an expected falling rate in May, experts say

The annual rate for Series I bonds could fall below 5% in May based on inflation and other factors, financial experts say. Here's what to know.

17/04 How to save $34,000 in tax each year with a trust

In Australia we pay a lot of tax, and while tax is important at some level, paying more tax means slower progress getting ahead with your money.

16/04 What everyday taxpayers can learn from the Biden, Harris 2023 tax returns

President Joe Biden and Vice President Kamala Harris on Monday released their 2023 tax returns. Here are lessons for everyday taxpayers, according to experts.

15/04 IRS expects ‘a million returns' every hour on Tax Day, commissioner says. What last-minute filers need to know

April 15 is Tax Day for most filers and the last chance to avoid federal late filing and payment penalties for 2023 taxes.

12/04 IRS: You have 'options' if you can't pay your taxes by the April 15 deadline

If you can't pay your taxes by April 15, you have "options," according to the IRS. Here's what to know about payment plans.

11/04 There's another 'tricky' tax deadline on April 15. Here's how to avoid a penalty, experts say

The first-quarter estimated tax deadline for 2024 is April 15, which is also the federal tax due date for most taxpayers. Here's how to avoid penalties.

10/04 This simple move 'takes minutes' to file a free federal tax extension, tax pro says — here’s what to know

You can file a federal tax extension for free online and it only takes a few minutes, according to tax experts. Here's what taxpayers need to know.

09/04 What Biden's new student loan forgiveness plan means for your taxes

President Joe Biden on Monday unveiled a new student loan forgiveness plan. Here's how the proposed relief could affect your taxes.

08/04 IRS adds ‘important update’ for free Direct File pilot as federal tax deadline approaches

With one week until the tax deadline, the IRS has added an "important update" for Direct File, the agency's free tax filing program. Here's what to know.

06/04 'Proceed with caution' before tapping AI chatbots to file your tax return, experts warn

Nearly 20% of Americans would trust ChatGPT to review their income taxes, according to a new survey. Here's what to know before using AI-powered chatbots.

27/03 Winning ticket for Mega Millions $1.128 billion jackpot sold in New Jersey — here’s how much the winner will owe in taxes

A single ticket in New Jersey won the $1.128 billion Mega Millions jackpot. Here is how much the winner will owe in taxes.

26/03 An 'often overlooked' retirement savings option can lower your tax bill, advisor says. Here's how it works

There's still time to lower your 2023 tax bill or boost your refund with a spousal IRA for married couples. Here's who qualifies.

25/03 Mega Millions jackpot hits $1.1 billion — and the big winner could face these costly pitfalls

The Mega Millions jackpot hit an estimated $1.1 billion, the fifth-largest prize in the game's history. The winner could face these pitfalls, experts say.

21/03 The IRS has so far issued 43 million tax refunds, worth $135 billion

The IRS has issued more than 43 million refunds worth about $135.3 billion, as of March 8. Here's the average payment.

20/03 Mega Millions jackpot hits $977 million. Here's what financial experts say to do if you score the winning ticket

The Mega Millions jackpot hit an estimated $977 million. Here's what to know if you score the winning ticket.

19/03 This key issue has 1 in 3 expats 'seriously considering' or planning to renounce U.S. citizenship

U.S. expatriates have extra tax filing rules and the burden is making some expats question their American citizenship, according to a new survey.

18/03 How to avoid the 'survivor's penalty' before a spouse passes

Many older married people face a "survivor's penalty" of higher taxes after a spouse dies. Here's how to prepare, according to experts.

15/03 Here are 3 key things to know with one month until the tax deadline

There's just one month until the federal tax-filing deadline for most taxpayers. Here are three key things to know before submitting your return.

13/03 Here's what Trump's proposed tariffs could mean for your wallet

Former President Donald Trump has renewed his support for higher tariffs on the campaign trail. Here's how those taxes could affect Americans consumers.

13/03 Pocket more of your return and save on taxes with these tips, says Bank of America

Take a few steps now with your portfolio to get ahead of next year's tax bite.

12/03 19 million people may qualify for free tax prep through the IRS this season. Here’s where they live

The U.S. Department of the Treasury estimates that one-third of federal income tax returns could use IRS Direct File for free this season. Here's who qualifies.

12/03 IRS free tax filing program launches in 12 pilot states. Here's what to know

The IRS on Tuesday fully launched Direct File, a free tax filing pilot program from the agency, for "simple tax situations." Here's what to know.

07/03 Trump vs. Biden: What a presidential election rematch could mean for your taxes

With looming tax law changes slated for after 2025, President Joe Biden or former President Donald Trump would face several expiring tax provisions.

07/03 How to know when married filing separately makes sense, according to tax experts

Married couples can choose to file taxes jointly or separately every year. Here's how to pick the best option.

04/03 Tax pros brace for ‘tidal wave’ of crypto tax scrutiny from the IRS. What investors need to know

As the IRS bolsters its cryptocurrency expertise, tax professionals are bracing for increased scrutiny of digital currency. Here's what to know.

04/03 I'm a certified financial planner and tax reporter at CNBC. How I tackle my own retirement tax planning

As a tax reporter and certified financial planner at CNBC, I focus on tax strategy all year. Here's how I tackle tax planning in my portfolio.

29/02 IRS targets wealthy ‘non-filers’ with new wave of compliance letters

The IRS on Thursday unveiled plans to target wealthy "non-filers" with a new round of compliance letters. Here's what taxpayers need to know.

23/02 Easy way to get $280 back in tax now

What’s the one thing that high income earners, low income earners, Millennials and Boomers all have in common? They all pay the same rates of tax – but the smart ones use those tax rates to their advantage more than the others.

18/02 I opened two accounts to help grow my savings. Here's what I learned as a Gen Z personal finance reporter

While I can't predict the future, I can certainly prepare for it, even as I'm paying down student loan debt. Here's what I learned opening two accounts.

13/02 4 red flags for an IRS tax audit — and how to avoid the 'audit lottery,' according to tax pros

Some taxpayers worry about IRS audits as the agency ramps up service, technology and enforcement. Here are four red flags filers need to know.

09/02 To shore up Social Security, this controversial proposal calls for limiting retirement plan tax perks

Incentives to save in work retirement plans reduce federal tax revenue and don't meaningfully change saving behavior, economists argue.

02/02 Nearly 1 in 5 eligible taxpayers don't claim this 'valuable credit,' IRS says

Nearly 1 in 5 eligible taxpayers don't claim the earned income tax credit, which was worth an average of $2,541 in 2022, according to the IRS.

01/02 Tax season is underway. Here’s what investors should know to prepare

The IRS is expecting more than 146 million individual tax returns as the filing season kicks off.

01/02 House passes child tax credit expansion — which could benefit millions of families, experts say

House lawmakers on Wednesday passed a child tax credit expansion that could benefit millions of low-income children. Here's what to know.

26/01 Best way to maximise new Stage 3 tax cuts

On 1 July, new personal income tax cuts are kicking in. These cuts will benefit anyone earning more than $45,000, and some taxpayers will be saving up to a whopping $4529 every single year.

24/01 These are the proposed changes to the child tax credit — and how much you could get

The $78 billion bipartisan tax package includes temporary child tax credit changes that could affect millions of families filing 2023 taxes.

23/01 Federal Trade Commission bans 'deceptive advertising' for free filing from TurboTax maker Intuit

The Federal Trade Commission has cracked down on "deceptive advertising" from Intuit, maker of tax filing software TurboTax. Here's what taxpayers need to know.

19/01 House Republicans reintroduce bill to repeal 'death tax'

House Republicans this week reintroduced legislation to permanently repeal the federal estate tax via the Death Tax Repeal Act. Here's what to know.

19/01 Here are two child credits parents can take advantage of this tax season

While parents may be shelling out thousands of dollars a month for child care costs alone, they can offset these expenses with two tax credits this season.

18/01 Tax identity theft 'continues to be a huge problem,' expert says. Here's how to protect yourself

Tax-related identity theft is a problem for many taxpayers and victims may wait months to resolve the issue. Here's how to protect yourself this season.

18/01 Investors may miss out on this key tax loophole if they actively trade a spot bitcoin ETF

A potential tax complication is on the horizon for active investors in spot bitcoin ETFs.

18/01 Government shutdown could disrupt upcoming tax season, IRS commissioner says

A government shutdown could disrupt the upcoming tax season, according to IRS Commissioner Danny Werfel. Here's what filers need to know.

18/01 ‘Fraud is at a crisis level,’ says expert: 5 financial scams to watch out for in 2024

Fraud costs consumers billions of dollars each year. Knowing the tactics criminals use can help you avoid getting scammed. Here’s how to protect yourself.

16/01 Bipartisan tax deal could boost child tax credit for 2023. What it means for families this tax season

The bipartisan tax deal could boost the child tax credit for 2023. Here's how it could affect taxpayers this season, according to experts.

12/01 IRS: Taxpayers may avoid a surprise tax bill by making a quarterly payment by Jan. 16

The fourth quarter estimated tax deadline is Jan. 16, and you could have a surprise bill or owe a penalty if you don’t send a payment.

10/01 Victims of tax identity theft face ‘unconscionable’ IRS delays, taxpayer advocate finds

While the IRS has boosted taxpayer service and technology, tax-related identity theft victims face "unconscionable delays," taxpayer advocate says.

09/01 Shohei Ohtani's $700 million contract sparks concern about taxes on deferred income for high earners

Roughly a month after Shohei Ohtani's $700 million Los Angeles Dodgers contract, California's controller is asking Congress for restrictions on deferred income.

08/01 Tax filing season kicks off Jan. 29. Here's what taxpayers need to know

The tax season will open for individual filers Jan. 29. Here's what taxpayers need to know.

08/01 It's time to boost 401(k) plan contributions for 2024. Here's how much you should save

There are higher 401(k) contribution limits for 2024. Here's how to decide how much to save, according to financial advisors.

06/01 With rate cuts on the horizon, here are 4 of the best places for short-term savings in 2024

With interest rate cuts expected in 2024 from the Federal Reserve, experts cover the best savings options for short-term cash. Here's what to know.

05/01 IRS tax bracket changes could mean your paycheck is slightly bigger in 2024. Here's why

Your paycheck could be slightly bigger in 2024 due to inflation adjustments from the IRS. Here's what taxpayers need to know.

29/12 Here's what you should do if you win the $760 million Powerball jackpot

The Powerball jackpot has reached an estimated $760 million, the sixth-largest prize in the game's history. Here's what the winner should do first.

28/12 There’s still time to reduce your 2023 tax bill with these last-minute moves

You can still reduce your 2023 taxes or boost your refund with these last-minute moves, but the deadline is Dec. 31. Here's what taxpayers need to know.

25/12 3 tax moves to optimize your charitable donations for 2024, according to top-ranked advisors

Charitable giving strategies can help taxpayers maximize donations next year. Here are three things to work on, according to CNBC FA 100 advisors.

24/12 ‘Be your own advocate’ by knowing these 4 changes for 2023 taxes, advisor says

It's important to know 2023 tax changes that could affect your liability this filing season. Here's what taxpayers need to know.

22/12 IRS to send taxpayers a ‘special reminder letter’ about debt. Who may get one and what to expect

Starting next month, the IRS will resume automated collection notices and some taxpayers will receive a "special reminder letter." Here's what to know.