When you take money from your 401(k) through a withdrawal, rollover or loan default, the IRS requires specific reporting on ...

Key reporting forms: Form 1099-R reports most 401(k) distributions, while Form 5498 confirms IRA rollovers; W-2s show contributions. Penalties and exceptions: Withdrawals before age 59½ may face a 10% ...

The IRS has been explicit about its enforcement priorities through public communications and practitioner guidance: large ...

Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming don't collect state income ...

High-income individuals who earn more than $1 million a year are the most likely to get audited by the IRS. The IRS also pays ...

A HAR file is a JSON archive file format that stores browsing data across multiple browsers. It works by storing a data session between the client and server. In other words, a HAR file is used to ...

Document management is an important yet time-consuming process — especially if you’re not using an electronic system to help you. A computerized filing system can assist with creating, storing, ...

Many tax-software companies have free tiers, but most only accept federal returns and a limited number of schedules. Through the end of February, TurboTax will process any state and federal returns ...

TurboTax remains the most feature-rich and user-friendly tax software for 2026, but its higher pricing pushes many filers ...

Clocking extra hours in overtime in 2025 turned into some real cash at tax time for more than 25 million filers who claimed the new break on their federal income tax returns. The average deduction ...

The average deduction claimed so far this tax season for 'no tax on overtime' was $3,100, according to U.S. Treasury officials. IRS warns taxpayers to guard against dishonest tax preparers advertising ...

To find a more detailed document list, visit the IRS website. Tax professionals recommend gathering all your documents in one place before you start your tax return — as well as ...