The IRS said that it levied a record $7 billion in penalties against taxpayers last year, mostly targeting individuals who underpaid heir estimated taxes.

The IRS and Treasury Department announced plans to end a major tax loophole that is used by wealthy Americans to reduce how much they owe to Uncle Sam.

The IRS says 1 million people face a May 17 deadline to submit their tax returns for unclaimed refunds for the 2020 tax year. Collectively, the refunds are worth more than $1 billion.

The IRS warned thousands of taxpayers that they could face criminal prosecution and steep fines if they falsely filed for tax credits that do not apply to them.

The IRS said more than $1 billion in unclaimed refunds for the 2020 filing year are still possible for eligible filers to claim, but time is running out.

Funding for the latest enforcement efforts was included in the Democrats' health care and climate change spending bill that President Biden signed into law in 2022.

A new Bank of America Institute report found that taxpayers' refund checks will on average be about 5% larger compared to a year ago, with most planning to pay debt or save the refund.

A growing amount of individual personal income taxes is going toward paying down interest costs on the U.S. national debt, according to a new analysis.

Tax season officially comes to an end on Monday, but if you haven't filed your taxes yet, don't worry. Here is everything taxpayers need to know this year.

Thousands of people have lost money and personal information to tax scams. Here are tips on how to keep your finances safe during the 2024 filing season.

If you are unable to file your taxes by the deadline, you can apply for a tax extension. You can apply online for an extension, and there are no qualifications needed to apply.

FIRST ON FOX: A group of 21 state financial officers and treasurers from 18 states is calling on the Biden administration to scrap a billion-dollar tax preparation program.

If you have received $20,000 from over 200 transactions through third-party payment processors, like Venmo, you'll need to report this information to the IRS.

Wyoming topped the list as the state with the biggest procrastination problem for the second year running, according to the IPX 1031 survey.

A select number of taxpayers in 12 different states can now file their federal income taxes for free with the IRS through its pilot "Direct File" program.

The IRS has announced a large scale crackdown on high earning tax cheats who owe the agency hundreds of millions of dollars in unpaid taxes.

The IRS has provided an early glimpse at tax refund data, revealing just how much money taxpayers can expect to receive from Uncle Sam this filing season.

Tax season can be a point of stress for Americans. This guide outlines the steps to filing your taxes if you choose to go through the process without a CPA.