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Treasury Department to deposit $1,000 into the account of each eligible child

WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued proposed regulationsproviding guidance regarding the contribution pilot program for Trump Accounts, which are a new type of traditional individual retirement…
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About you Tax Returns: Schedule 1-A, Additional Deductions, what to know about the new form

IRS Schedule 1-A, Additional Deductions PDF was created to calculate and claim four new tax deductions enacted under the One, Big, Beautiful Bill. This schedule consolidates the new tax deductions in one place so taxpayers can determine their…
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IRS updates frequently asked questions about educational assistance programs

These FAQs are being issued to provide general information to taxpayers and tax professionals as expeditiously as possible. Accordingly, these FAQs may not address any particular taxpayer’s specific facts and circumstances, and they may be…
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IRS issue proposed regulations on how to open initial Trump Accounts

WASHINGTON —The Department of the Treasury and the Internal Revenue Service today issued proposed regulationsproviding general requirements for Trump Accounts, certain definitions relating to Trump Accounts, election rules to open an initial…
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Create an IRS Individual Online Account today for security and convenience

WASHINGTON — The Internal Revenue Service encourages all taxpayers to create an IRS Individual Online Account to access their tax account information securely online and to help protect against identity theft and fraud. The IRS Individual…
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Questions and answers about qualified overtime compensation

This Fact Sheet provides answers to frequently asked questions (FAQs) about the new deduction for qualified overtime compensation, such as who may be eligible to claim the deduction, including federal employees, and where to find supplemental…
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Important Tax Notice for W-2 Employees

Changes to Taxes on Overtime If you received a W-2 for tax year 2025 and worked overtime, an additional review may be required. Under the new tax laws, part of the One Big Beautiful Bill, overtime pay is not taxable up to $12,500. Important…
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Important Reminder: W-4 Form Updates

Employees and employers are reminded of the importance of keeping the W-4 Form up to date whenever there are changes in an employee’s personal or tax-related information. The W-4 Form is used to determine the correct amount of federal income…
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Updates to Questions and Answers about the Premium Tax Credit

What is the Premium Tax Credit? (updated Dec. 23, 2025) The Premium Tax Credit is a refundable tax credit designed to help eligible individuals and families with low or moderate income afford health insurance purchased through…