Speak with a tax relief specialist about your options now. What can the IRS do to collect unpaid tax debt? The IRS starts the ...

Having multiple sources of income can feel like a tax headache at first, but once you know the different ways income gets classified, the process becomes much easier. Being organized can help ...

You can lower a sizeable amount of your taxable income in different ways. Fund an IRA or an HSA to help lower your annual tax bill. Consider selling your stocks at a loss to lower your tax liability.

In addition to federal income tax, most states also collect state income tax. State income tax typically works one of three ways ... State income taxes are different from federal income taxes.

Annual gross income Think of this as your salary ... Both reduce your tax bill but in different ways. Tax credits directly reduce the amount of tax you owe, dollar for dollar.

It’s usually better to pay them later rather than sooner — and there are different ways to do that ... Besides guaranteed monthly income, another advantage is partial tax deferment.

Yes, you do. You very much need to report the income you made from tips on your tax return. On its website, the IRS advises ...