Although the IRS could reduce the fee to 10% if you correct the mistake, withdraw the proper amount within two years and file Form 5329. The withdrawals relate to pre-tax individual retirement ...

Given that April 15 is near, it’s a good time to consider President Trump’s proposal for replacing the Internal Revenue Service with an External Revenue Service. A Trump executive order has ...

“This is a self-inflicted situation by the continual decrease in state revenues over the years,” Rung said, blaming the state’s budgetary woes on Republican tax cuts. “Since 2015, reducing ...

Mr. Trump has previously described his idea for the External Revenue Service – meant to be a play on the unpopular domestic tax collection agency – as an arm of government "to collect tariffs ...

We test and rate the top online tax services to help you find the best one for filing quickly and accurately—and for getting the largest possible refund. I write about money. I’ve been ...

Income reported on a 1099 form is usually taxable, but not always. The IRS also receives copies of your 1099 forms, and you’ll probably receive a notice from the IRS if you don’t report ...

Roughly 37% of taxpayers are eligible. TurboTax Free Edition supports a simple Form 1040 and no schedules except for the earned income tax credit, child tax credit and student loan interest.

The IRS offers several free programs to help with income-tax filing, especially if your income is below a certain level or you have a disability or limited English-speaking skills. You can also ...

TurboTax's free version TurboTax offers a free version that lets you file a Form 1040 and claim limited tax credits. Roughly 37% of taxpayers qualify. The free package is designed for people with ...

Thousands of retirees face a 25% penalty from the IRS if they miss an important deadline coming up ... The amount should appear on Form 5498, usually issued early in the year by your financial ...