IRS

The richest 25 Americans pay less in tax — 15.8% of adjusted gross income — than many ordinary workers do, once you include taxes for Social Security and Medicare, the nonprofit investigative journalism organization ProPublica found

President Joe Biden and first lady Jill Biden released their 2020 taxes

President Joe Biden has released his tax returns, restoring a long-standing presidential tradition.

In the last decade, your chances of getting audited have shrunk from slim to virtually none.

Illinois residents are being urged to file their 2020 tax returns as soon as possible to ensure that they receive the full benefits of the expanded Child Tax Credit, a provision of the American Rescue Plan that will provide families with tax credits of up to $3,600 per child. According to the IRS, those families who are eligible through the…

A U.S. tax court has handed a major victory to the estate of Michael Jackson in a years-long battle

The Internal Revenue Service has issued a warning about a phishing scam targeting students and staff at colleges and universities

Last week the IRS announced that it is now opening mail within normal timeframes and has made significant progress in processing prior year returns, but a mountain of paperwork still lies ahead. NBC 5 Responds’ Lisa Parker reports.

Tax filing season will start a bit later and look a bit different this year.

Taxpayers who say they qualify for COVID-related Economic Impact Payments but never received them turned to NBC 5 Responds for help getting answers on their missing money. Lisa Parker reports.

A second round of stimulus checks were sent out to Americans, but many are still waiting for their payments from the first round of relief checks. NBC 5 Responds’ Lisa Parker reports

The controversy over Prince’s estate is heating up again after the Internal Revenue Service said administrators have undervalued it by 50%, or about $80 million

Congress just passed a nearly $1 trillion COVID-19 relief bill. Will you get a check? Here is everything you need to know.

The Justice Department is investigating the finances of President-elect Joe Biden’s son, including scrutinizing some of his Chinese business dealings and other transactions

The Justice Department is investigating the finances of President-elect Joe Biden’s son, including scrutinizing some of his Chinese business dealings and other transactions

It’s the time of year to start thinking about taxes — but the upcoming filing season is going to be a bit trickier for many Americans due to rampant unemployment, working from home and general upheaval due to COVID-19.

A U.S. judge says the IRS can’t keep withholding coronavirus relief payments from incarcerated people, potentially clearing the way for at least 80,000 checks totaling more than $100 million to be sent to people behind bars in the United States. The ruling gives the IRS until Oct. 24 to reconsider the payments for those who were denied or had their...

The massive losses Donald Trump claimed on tax returns were reportedly due at least in part to huge deductions he took against income his businesses had before and after he became president

CPA and TurboTax expert Lisa Greene-Lewis answers questions for those stragglers who waited until the very last second to file their federal income taxes.

If you still haven’t filed your taxes, you’re not alone. Each year, millions of Americans hold off on filing until the very last minute. This year, Tax Day is extended to July 15 from the usual mid-April deadline, so now is the time to figure out what you need to do. If you have yet to file, or if you’ve...