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 ...

The IRS also has various tools at its disposal to recover what they're owed and these tools are quite different ... tax debt ...

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.

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 ...

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.