Want to get on someone’s good side? Help them out financially? Or, perhaps, just make them really happy? Give ‘em a gift! (Cash is always nice.) But if you’re in a gift-giving mood, and you have a lot ...

How much money can I give to my son and daughter-in-law without incurring a tax issue with the IRS? -Irwin For 2023, you can ...

Internal Revenue Code Section 529 college savings plans are state sponsored plans designed to encourage residents to save for college. Regardless of age and income, anyone can make contributions ...

Unless you have given away more than $13 million in your lifetime, a $75,000 gift will not trigger the federal gift tax. Using this for a down payment also does not affect the result. A financial ...

Beverly is a writer, editor, and paralegal specializing in personal finance and tax law. She covers personal financial and legal topics, as well as tax breaks, tax preparation software, and tax law ...

Plus: Lost refund checks, new addresses at the IRS, Taxpayer Assistance Centers are closing, gambling and the IRS, tax compliance and naturalization, tax filing deadlines, tax trivia and more. Quick ...

Plus: Proposed regulations for “no tax on tips,” new tax forms, Roth catch-up contributions, charitable donation deductions, state and local tax deductions, tax filing deadlines, tax trivia and more.

In our Ask the Editor round-up, Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on the new tax deduction for ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The Internal Revenue Service has posted a draft version of Schedule 1-A, "Additional Deductions," for Form 1040 that will be used next tax season when claiming new tax breaks in the One Big Beautiful ...

The income tax return (ITR) filing has started for the financial year 2024-25 (assessment year 2025-26). The income tax department has notified all seven income tax return forms for the assessment ...