The IRS may grant a reasonable extension if the taxpayer provides satisfactory evidence of acting reasonably and in good ...

Taxpayers who make frivolous arguments in Tax Court risk the imposition of penalties by the court of up to $25,000.

Takeaways For tax years 2025 -2028, the One Big Beautiful Bill Act (OBBBA) allows employees to take an above-the-line tax deduction on qualified overtime pay and qualified tips.

Employee layoffs at the Internal Revenue Service (IRS) could impact the timely return of tax refunds and other services, experts have said. Newsweek has contacted the IRS for comment via email outside ...