The U.S. tax code does not allow taxpayers to deduct penalties assessed by the Internal Revenue Service. However, they may ...

Learn what happens if you don't file your taxes in 2025. Discover the consequences, penalties, and how to address unfiled tax ...

Failing to file your tax returns can lead to penalties, interest charges, and potential legal consequences from the IRS.

The agency in September announced it recovered $1.3 billion in unpaid taxes from “high-income, high-wealth individuals,” ...

Over 1.1 million people have unclaimed federal income tax refunds from 2021, which are in jeopardy of becoming government property if not claimed soon, with a median return of $781 and potential ...

Social Security benefits are handled differently than regular income by the IRS, which can make tax season tricky.

If you underpaid your 2024 taxes, you may be in for an unwelcome surprise, including a 0.5% monthly failure-to-pay penalty ...

Are you looking to report suspected tax fraud? Here's what you need to know about the process—and how you might even get ...

A bill in the Arkansas legislature aims to provide an income tax credit to unpaid caregivers of elderly relatives.