By law, all taxpayers have fundamental rights when they’re interacting with the IRS. It’s important that all taxpayers know and understand their rights. The Taxpayer Bill of Rights presents these rights in…

Overview of Trump Accounts Withdrawal and use

Overview of the new deduction What counts as qualified interest Interest must be paid on a loan that: If a qualifying vehicle loan is later refinanced, interest paid on the…

Overview of the deduction Who qualifies Individuals who: Who doesn’t qualify Individuals who are: How to claim the deduction Reporting requirements

The IRS has released new guidance on the Premium Tax Credit (PTC), which helps eligible individuals and families afford health insurance through the Marketplace. Here are the key changes you…

WASHINGTON — The Internal Revenue Service today announced that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents in 2026, while the mileage rate…