The IRS has 10 years from the date of assessment to collect a tax. "We've seen millions of our clients' tax debts written off due to the IRS's collection statute expiring," Allec says.

IRS data indicates that only 7% of consumers who were eligible for a new clean vehicle tax credit between Jan. 1 and Oct. 1, 2024, opted to receive the credit when they filed their taxes, Allen said.

If you are stressed out about tax debt, the IRS offers several programs to help. Learn how to resolve your debt and get back on your feet.

A new analysis of IRS tax data indicates that everyone benefited from the Trump tax cuts, but those who earned less than $75,000 received a much-higher percentage of savings.

IRS could cut up to 40% of its workforce, internal memo indicates 00:33. Data shows the IRS' Direct File free tax-filing tool has helped save taxpayers money.

First, there's the Net Investment Income Tax (NIIT), which levies an additional 3.8% tax on investment income if you have an income over $200,000 (if you file your returns solo) or $250,000 (if ...

T he IRS is sending an average of nearly $3,000 to eligible taxpayers.As tax season arrives and the IRS gives refunds to taxpayers who overpaid in 2024, most recipients will get a payment of about ...

Tax tips for those running up against the deadline to file their returns 01:37. If you're still scrambling to get your taxes filed before the April 15 deadline, an extension can take the pressure off.

By now, you've likely filed your taxes and maybe expecting a tax refund via check or bank deposit. According to IRS data, the bureau expects nearly 140 million Americans to file taxes. Not sure ...

If you waited until the last minute to file your taxes, here’s a friendly reminder: the deadline is Tuesday, April 15. While, most people meet their tax responsibilities by having their taxes ...