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.

And if you're saving for retirement in a traditional IRA or 401(k), the IRS will eventually tax you there, too, when you take ...

Most of us only need to worry about a few tax documents for our income, taxes withheld and popular ... It's the quickest way to get your tax refund -- direct deposits come in three weeks or ...

only a portion of your income is taxed at your top rate. Your marginal and your effective tax rates are different. There are steps you can take to reduce your taxable income. An unexpected bonus ...

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.