The IRS recently issued a Chief Counsel Advice Memorandum (AM 2025-002) (the CCA) that provides helpful guidance regarding the application of the branch profits tax (BPT) in connection with reverse ...

If you're ready to file your 2025 income taxes (and receive your potential tax refund) early, here is the information and ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The IRS continues to roll out drafts of some 2026 tax forms, including a draft of Form W-9, Request for Taxpayer Identification Number and Certification. Here’s a look at what’s new—and why it matters ...

The IRS on Friday released a draft of Schedule 1-A (Form 1040), Additional Deductions, which includes sections for calculating four deductions allowed under H.R. 1, P.L. 119-21, commonly known as the ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

Doug Whiteman is an award-winning journalist with three decades of experience covering personal finance, starting when he was the Washington, D.C.-based consumer news editor and reporter for ...

Federal tax law requires U.S. persons to report their receipt of foreign gifts or inheritances. IRS Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign ...

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Forbes contributors publish independent expert analyses and insights. Matthew Roberts is a tax attorney who covers tax litigation and fraud. To combat late information return filings, the IRS has ...

Forbes contributors publish independent expert analyses and insights. Ashley L. Case, J.D., LL.M., writes about tax and estate planning. The Internal Revenue Code Section 6501 sets the framework for ...