Taxes on Mutual Funds: How They Work, When They’re Due

You may owe tax on mutual funds, even if you haven’t sold your shares. Here's an overview of how taxes on mutual funds work, plus strategies to minimize what you owe.

What Is Form 1099-DIV for Dividends and Distributions?

Form 1099-DIV is an IRS tax document that reports dividend income. Here's what it means and what to do with it.

Tax-Loss Harvesting: What It Is, How It Works

Tax-loss harvesting means selling investments at a loss to offset your capital gains and lower your tax bill.

Data: Taxpayers Missing Out on Chance to File for Free

Despite 70% of taxpayers qualifying for Free File, less than 1.9% used the service in fiscal year 2023.

Taxable Income: Definition, How to Calculate It

Most forms of income count as taxable — but not all. Here’s how to calculate yours and some ways to reduce your liability.

Self-Employment Tax: What It Is, How to Calculate It

Self-employment tax is a mix of Social Security and Medicare taxes. Use our calculator to estimate what you owe.

What Is Schedule A? Claiming Itemized Deductions in 2024-2025

You may need to file a Schedule A if you want to deduct mortgage interest, charitable donations or other expenses.

How to Find an IRS Office Near You

You can use the online Taxpayer Assistance Center locator to find an IRS tax office near you.

Energy Efficient Home Improvement Credit: How It Works, Qualifying Expenses

If you give your home an eco-friendly makeover in 2025, don’t forget to look into the IRS’ energy tax credit to recoup up to 30% of the cost.

Data: Americans Waste Billions to File Tax Returns

There is a legitimate IRS program that’s designed to allow 70% of taxpayers to file their federal income tax returns for free using online software. But hundreds of millions fail to take advantage, po

What Is a Tax Lien? How It Works, How to Stop One

Tax liens put your assets at risk. To remove them you’ll need to work with the IRS to pay your back taxes.

Tax Levy: What It Is, How It Works and How to Stop One

Tax levies put your assets at risk. To remove them, you’ll need to work with the IRS to pay your back taxes.

FICA Tax: Definition and How It Works in 2025

FICA is a payroll tax that goes toward funding Social Security and Medicare. Employees and employers split the total cost.

IRS Direct File: How It Works, Who Qualifies

Direct File allows taxpayers to file their taxes using the IRS' new software. The agency more than doubled the number of states where it’s available in 2025.

What Is Medicare Tax? Definition, How It Works

All employees pay 1.45% in Medicare taxes. People earning above a certain threshold may also face an additional 0.9% tax on income or a 3.8% tax on investment income.

Modified Adjusted Gross Income (MAGI): What It Is, How to Calculate It

Knowing your MAGI can help you figure out if you're eligible for certain tax deductions this filing season. Plus, learn how it differs from adjusted gross income.

IRS Announces 2025 Income Tax Brackets, Updated Standard Deduction

Here's a rundown of changes to some well-known tax provisions for the 2025 tax year.

How to Find a CPA or Tax Accountant Near You

A CPA can be a valuable asset to your tax toolkit. Here’s a five-step guide on how to find and vet one.

Tax Credit vs. Tax Deduction

Tax deductions reduce your taxable income, but tax credits reduce your bill dollar for dollar.

Back Taxes: How to File Past-Due Tax Returns

Back taxes are unpaid taxes from the current year or previous years. Filing and paying off a past-due return can help you to get current with the IRS.