Tax credits and tax deductions both decrease what you owe the IRS, but in different ways. Here's the difference, and how you ...

Using a tax prep checklist can help reduce your tax-time stress. Here's a roundup of the documents and information you'll need to file your tax return this year.

With 30 tax provisions set to expire at the end of 2025, the tax liabilities for family farms could increase at a time America’s farm families can ill afford any additional hits to the budget.

IRS is developing a new Schedule 1-A to use to claim new deductions for tip ... The tip income needs to be reported on the return. Then, the tax filer will need to fill out the form for "additional ...

Plus: Proposed regulations for “no tax on tips,” new tax forms, Roth catch-up contributions, charitable donation deductions, state and local tax deductions, tax filing deadlines, tax trivia and more.