Do you use PayPal or Venmo? The IRS is giving you a break.
Tax agency also said it will boost the reporting threshold to $5,000, from $600, in 2024 as it phases in the new regulation.
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Tax agency also said it will boost the reporting threshold to $5,000, from $600, in 2024 as it phases in the new regulation.
Truss faced a fast-mounting rebellion just weeks into her tenure, with a senior member of her own party declaring he'd "had enough of talentless people."
Americans like Melissa Velez filed for the government's standard deduction – which is now a $12,000 credit for taxpayers - and her return was nearly cut in half.
New rules unveiled by the IRS undermine some states' attempts to help residents keep a version of a popular federal income tax deduction.
The U.S. Department of the Treasury estimates 30 million Americans are being "under-withheld" this year.
Sue claims new $10,000 tax limit on state and local deductions aimed at hurting specific states.
The federal tax changes will affect states, like New Jersey, with some of the highest property tax rates in the country. On Friday, Gov. Phil Murphy signed a law that aims to provide some relief.
The fight over the new Republican tax law had some Democrats working hard to stop it. But now, it appears some of those lawmakers stand to benefit from the changes.
More than 50 people showed up at the Wyckoff Heights Medical Center on Saturday – not for medical advice, but to discuss taxes and how the plan that was passed in Washington might affect them.
The fight to protect New Yorkers from feeling taxed out from the federal tax plan got another player on Tuesday.
A growing number of companies say the new federal tax law will benefit their bottom lines, so they're sharing the windfall with workers.
With the new year brings a new federal tax code, which means higher taxes for many in our area because of the elimination of local and state deductions.
President Donald Trump could score his first legislative victory this week, as Congress is expected to vote on its tax overhaul plan.
One day after congressional leaders hammered out a tax reform agreement, Tri-State Area residents are calculating what the loss of key deductions will cost them.
President Donald Trump says the bill will lower the average American's tax bill, but it has some local lawmakers worried about state, local, and property taxes.
The Republican-led House approved a similar bill last month. Now, the two chambers will try crafting a final compromise to send to the president.
Suffolk County Executive Steve Bellone says the Republican tax proposal would be "absolutely devastating for Long Island."
Politicians from both sides of the aisle stood together Tuesday, urging their colleagues to slow the process and consider the ways they're hurting the northeast.
President Donald Trump is making another new push for his year-end agenda as he heads to the Capitol to rally Senate Republicans on taxes.
After the House narrowly approved the Republican tax bill, Cuomo was quick to criticize the four upstate New York Republicans who voted 'yes.'
The House voted 227-205 along party lines to approve the bill, which would bring the biggest revamp of the U.S. tax system in three decades.
Now that both the House and Senate have unveiled their plans, which slash or eliminate several deductions, including those for property taxes, many want to know what the proposals mean for them.
President Donald Trump is heading to Capitol Hill for a lunch with Senate Republicans.
President Donald Trump is set to head to Capitol Hill for action on a budget bill, and he hopes for a quick passage to move his agenda forward.
President Donald Trump is reaching across the aisle for help on his signature issue – tax reform.
A New York judge will decide Monday if evidence found in Luigi Mangione's backpack during his arrest can be used during his state trial.
A late-night meeting between the MTA and union leaders failed to end a strike that shut down the Long Island Rail Road. Negotiations will continue Monday morning.
With the LIRR strike entering its third day, the MTA and union leaders will resume talks at 7:30 a.m. Monday.
Thousands of people showed up bright and early for AIDS Walk New York 2026, the largest HIV and AIDS fundraiser in the U.S., in Central Park on Sunday.
A summertime weather pattern has moved into the New York Area, bringing potentially record-high temperatures.
A New York judge will decide Monday if evidence found in Luigi Mangione's backpack during his arrest can be used during his state trial.
A late-night meeting between the MTA and union leaders failed to end a strike that shut down the Long Island Rail Road. Negotiations will continue Monday morning.
With the LIRR strike entering its third day, the MTA and union leaders will resume talks at 7:30 a.m. Monday.
Thousands of people showed up bright and early for AIDS Walk New York 2026, the largest HIV and AIDS fundraiser in the U.S., in Central Park on Sunday.
A summertime weather pattern has moved into the New York Area, bringing potentially record-high temperatures.
The weekend is set to be the warmest of the year so far with summer-like weather across the Tri-State Area.
Keep an umbrella nearby as there's a chance for showers across the New York and New Jersey area. But the weather will turn to sunshine and warm temperatures for the weekend.
The weather on Wednesday will be a mix of sunshine and clouds with the potential for a shower in New York City. In the evening, rain becomes more widespread.
An unsettled pattern continues through the entire Mother's Day weekend in the New York City area.
After summer-like warmth, rainy weather and cooler temperatures return to the New York City area mid-week.
The driver of a Jeep was killed when their vehicle struck a tanker truck on I-287, causing both vehicles to go up in flames, New Jersey State Police said.
With just weeks to go before the primary, voters in New Jersey's 7th Congressional District are wondering where their congressman is.
Macy's Fourth of July Fireworks will take place on both the lower East River near the Seaport and the lower Hudson River, in collaboration with Jersey City.
It was down to the wire for one lucky New Jersey lottery winner. A winning $5.9 million Pick-6 lottery ticket was just eight days away from expiring.
The weekend is set to be the warmest of the year so far with summer-like weather across the Tri-State Area.
A late-night meeting between the MTA and union leaders failed to end a strike that shut down the Long Island Rail Road. Negotiations will continue Monday morning.
With the LIRR strike entering its third day, the MTA and union leaders will resume talks at 7:30 a.m. Monday.
A summertime weather pattern has moved into the New York Area, bringing potentially record-high temperatures.
While the LIRR work stoppage has caused a mess for people heading to weekend events, the real concern is Monday morning's commute.
On Day 1 of the LIRR strike, riders reported their regular trips to and from New York City turned into marathons.
Alex Bores has a master's degree in computer science, but for some reason tech titans are trying to stop his campaign in New York's 12th Congressional District.
While the LIRR work stoppage has caused a mess for people heading to weekend events, the real concern is Monday morning's commute.
Gas prices, inflation weigh on Americans. Many see lack of clarity on what's happening in Iran.
The work stoppage, the LIRR's first since 1994, went into effect after the MTA and five unions representing 3,500 workers failed to reach a deal on a new four-year contract.
With just weeks to go before the primary, voters in New Jersey's 7th Congressional District are wondering where their congressman is.
Thousands of people showed up bright and early for AIDS Walk New York 2026, the largest HIV and AIDS fundraiser in the U.S., in Central Park on Sunday.
A New York doctor who contracted and survived Ebola more than a decade ago says he is worried for healthcare workers who are at the center of treating the latest outbreak.
New York Gov. Kathy Hochul proposed millions to keep the program open, but the reforms would cut reimbursement rates for private duty nurses.
A New York native is among 16 American passengers who are quarantining in Nebraska after being on the cruise ship that is at the center of the deadly hantavirus outbreak.
American passengers on the MV Hondius cruise ship, which was hit with a deadly outbreak of the hantavirus, are back in the U.S. Three of the at least 10 people confirmed infected in the outbreak have died.
The well-known film critic and journalist Rex Reed has died at 87.
"The Pitt" star Isa Briones is bringing heightened pride and Filipino presence to both stage and screen.
Broadway's "The Book of Mormon" has canceled two weeks of performances following a fire at the Eugene O'Neill Theatre.
Uzo Aduba and Darren Criss announced the 2026 Tony nominees for select categories on "CBS Mornings" on Tuesday.
Rihanna, Sabrina Carpenter, Madonna, and Beyoncé all wore their best looks to celebrate the "Costume Art" theme at the 2026 Met Gala. Here are some of the best moments, photos, and more from the night.
Tyrone Taylor hit a game-tying three-run homer off All-Star closer David Bednar with two outs in the ninth as the Mets rallied to defeat the Yankees in 10.
Luke Weaver escaped a bases-loaded, no-outs jam against his former team as the Mets beat the Yankees Saturday night to even the Subway Series.
Anunoby has the maximum amount of time to rest before Game 1 of the NBA Eastern Conference finals.
FIFA President Gianni Infantino joked that if someone does pay $2 million for a ticket to the World Cup final, "I will personally bring him a hot dog and a Coke."
Cole likely has one more minor league rehab start in his recovery from elbow surgery before he rejoins the New York Yankees starting rotation.
Ahead of the 2026 RBC Brooklyn Half Marathon, some athletes are showing how simply reaching the starting line is a victory.
The Second Avenue Subway project has entered phase two of extending the "Q" line, but Harlem businesses say they're struggling to co-exist with the construction.
City Council members say requirement for transparent roll-down gates is burdensome for small businesses ahead of the July 1 enforcement deadline.
For more than four decades, residents living beside Brooklyn's District 13 Sanitation Garage in Coney Island have been waiting for the facility to move away from their homes.
There's a swim club in Harlem teaching kids a lifesaving skill, and they're turning timid swimmers into competitors.
People dressed in elaborate headgear and paraded up Fifth Avenue for New York City's Easter Sunday tradition.
The Halloween tradition strolled through Manhattan's East Village on Sunday, with furry friends dressed in colorful costumes.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
The annual Easter Parade and Easter Bonnet Festival was held in Manhattan on April 20, 2025.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
AAA's Robert Sinclair said the LIRR strike will affect major arteries such as the Southern State, Northern State and Long Island Expressway.
CBS News Radio is ending its broadcasts on Friday after almost 100 years on the air.
President Trump called on Iran to make a deal or prepare for more bombings. His warning came soon after a drone strike targeted the sole nuclear power plant of the United Arab Emirates.
A judge is set to rule on whether evidence found in Luigi Mangione's backpack during his arrest can be used during his state trial.
It's a mild morning, but it will turn into a hot and humid day with highs reaching into the 90s for inland locations. CBS News New York's Tony Sadiku has the forecast.
