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If you have a household employee, you may need to withhold and pay Social Security and Medicare taxes (FICA), pay federal unemployment tax…

If an individual, partnership, estate, trust, or an S corporation engages in an activity that is not conducted as a for-profit business, expenses (other than cost of…

In addition to being subject to higher federal tax rates, taxpayers whose income exceeds certain levels have tax deductions and credits that are reduced or…

A health savings account (HSA) is a tax-exempt or custodial account set up with a qualified HSA trustee to pay or reimburse certain medical expenses…

You cannot reduce gambling winnings by gambling losses and report the difference. You must report the full amount of all gambling winnings as income and…

If you have a financial interest in or signature authority over a foreign financial account, including a…

You can file a Single if any of the following was true on December 31, 2025: You were never married, You were legally separated, according to…

The maximum credit is $2,000 per qualifying child who is under the age of 17 as of the end of the year. The maximum refundable credit (Additional Child Tax…

April 15 is the annual deadline for most people to file their federal income tax return and pay any taxes owed. By law…

The federal income tax is a pay-as-you-go tax. You must pay the tax as you earn or receive income during the year. There are two ways to pay as…