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This story is part of Taxes 2023, CNET’s coverage of the best tax software, tax tips and everything else you need to file your return and track your refund. Tax changes for 2023 mean that your tax refund might be a little smaller this year — the average so far this tax season is $2,933, […]

WASHINGTON — The Biden administration’s $80 billion overhaul of the Internal Revenue Service is facing a new line of attack, this time from lobbyists representing tax preparers who fear that the agency’s growing power will cripple their businesses and infringe upon taxpayer privacy. The fight is over a potential plan for the I.R.S. to create […]

 The Income Tax Act of 1961 offers a number of home loan tax deductions and encourages  residents to invest in real estate. Home loan borrowers should be aware of all available home loan  tax deductions because doing so can allow you to significantly reduce your tax liability.   These are the tax benefits or income […]

The IRS has issued a guidance which sets forth a proposed revenue procedure that establishes the Service Industry Tip Compliance Agreement (SITCA) program, a voluntary tip reporting program offered to employers in the service industry (excluding gaming industry employers). SITCA is intended to replace the Tip Reporting Alternative Commitment (TRAC) program and the Tip Rate […]