From savings, health, education, certain retirement accounts and a standard checking account — in addition to other investments — IRS Form 8888 (Allocation of Refund) can be leveraged to this ...

Filing Federal Income Taxes Federal income taxes are reported and remitted to the IRS on forms created by the U.S. Department of Treasury and filed, usually electronically. The primary form used ...

This isn’t enough to meet your federal tax liability when you file your Form 1040 individual tax return, so you’d owe $7,001 in taxes: $14,501 - $7,500 = $7,001. The IRS would refund you $499 ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary ...

Tax refunds can be flexible if you need them to be, but the IRS also has lots of leverage over them. Thomas is a native of upstate New York and a graduate of the University at Albany. As a member ...

The Income Tax Bill, 2025, grants officials unrestricted access to citizens' digital accounts without judicial oversight, raising fears of privacy erosion and misuse Listen to Story New Income Tax ...

Want to know where your refund is? Well, you have to file your taxes first. Tax season is underway, but so far the IRS has seen a lower number of early returns being filed, with less than 40 days ...

views on IRS collections and the debt ceiling. The IRS is preparing to get rid of half of its workforce, according to two media reports – part of a blitz by the Trump administration to reduce ...

The Internal Revenue Service is drafting plans to cut its workforce by as much as half through a mix of layoffs, attrition and incentivized buyouts, according to two people familiar with the ...

WASHINGTON -- The IRS is drafting plans to cut its workforce by as much as half through a mix of layoffs, attrition and incentivized buyouts, according to two people familiar with the situation.