The IRS has published draft versions of Forms W-2 and W-2c for the 2026 tax year. The revised forms introduce new reporting requirements aligned with the One Big Beautiful Bill Act’s (OBBBA’s) new deductions...

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Do you use a cash app for nonbusiness payments? It could be Venmo, PayPal or another cash payment app. If so, pay attention. Nonbusiness payments, such as reimbursing a friend for your share of...

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If you’re a taxpayer who must make quarterly estimated tax payments, don’t let the next due date sneak up on you. The third estimated payment for 2025 is due Sept. 15. Generally, you’ll need...

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Did you know that you may qualify for a tax deduction if you’ve incurred unreimbursed medical expenses that exceed 7.5% of your adjusted gross income? To qualify for the deduction, the expenses must be...

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Tax-related identity theft happens when a thief steals your Social Security number and uses it to file a tax return and claim a fraudulent refund in your name. According to an interim report by...

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What’s the difference between tax avoidance and tax evasion? Tax avoidance is taking legitimate actions to reduce your tax bill, such as funding an IRA or appropriately claiming a tax credit. Tax evasion is...

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If your summer chore list includes cleaning out the garage and closets, you might have items to donate to a local charity. That may lead to tax savings, but be aware that you can...

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The year is more than halfway over, so now is a great time to consider ways to reduce your 2025 tax bill. If you’re age 70½ or older and own or are the beneficiary...

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Employers seeking to offer family-friendly benefits may want to consider flexible spending accounts (FSAs) for dependent care. These FSAs let employees make pre-tax contributions through payroll withholding to help cover eligible expenses. Thanks to...

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