Major changes for taxpayers this tax season. What to know before filing.
This is due in part to the new "Big Beautiful Bill" and job cuts at the Internal Revenue Service.
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This is due in part to the new "Big Beautiful Bill" and job cuts at the Internal Revenue Service.
Many IRS workers are furloughed due to the government shutdown, but taxpayers are still required to file their extensions this week.
The IRS on Thursday announced adjustments to the federal income tax brackets and standard deductions for 2026.
Big changes are coming this tax season, with the new "no tax on tips" rule created by the Trump Administration's spending plan, and following the delays with the IRS electronic payment system earlier this year, taxpayers might want to start preparing now.
CBS News Chicago has reported on this problem, and it turns out we are not the only ones having a hard time getting answers from the IRS.
CBS News Chicago has reported on this problem, and it turns out we are not the only ones having a hard time getting answers from the IRS. Tara Molina reports.
Despite continuing reports of taxpayers receiving bills from the IRS for taxes they already paid on time, the agency has remained quiet about the problem and when it could be resolved.
Despite continuing reports of taxpayers receiving bills from the IRS for taxes they already paid on time, the agency has remained quiet about the problem and when it could be resolved. CBS News Chicago has been checking in daily with the IRS for the past week about the processing delays as more people say they are getting IRS notices.
Despite continuing reports of taxpayers receiving bills from the IRS for taxes they already paid on time, the agency has remained quiet about the problem and when it could be resolved.
Some taxpayers who paid their taxes by the April 15 deadlines are getting notices telling them they still owe money, all because of delays with the IRS electronic payment system.
Some taxpayers who paid their taxes by the April 15 deadlines are getting notices telling them they still owe money, all because of delays with the IRS electronic payment system.
Sources say the IRS plans to rescind Harvard's tax-exempt status, something that would be unprecedented for a large American research university.
Filing a tax extension is easy. But it's important to know what you're getting into, including what to do if you owe money to the IRS.
According to an internal email, three-quarters of the positions in the IRS Office of Civil Rights and Compliance will be eliminated.
President Trump’s latest move is to fire roughly 6% of the IRS workforce in the midst of a busy tax-filing season. Erica Brown reports.
Another round of federal job cuts is coming. This time, it’s at the agency responsible for bringing money into the government's coffers.
The IRS is the latest federal agency impacted by aggressive federal workforce cuts carried out by the Trump administration.
Next year, the standard deduction will increase to $15,000 for single filers and $30,000 if filing jointly. The earned income tax credit for low—to middle-income filers will also increase to a maximum of $8,000. Read More
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