National taxes

Despite the cooling market, many homeowners made money selling their property in 2022 — and part of that windfall may be taxable.Home sellers made a $112,000 profit on the typical sale in 2022, a 21% increase from 2021, and a 78% jump from…

Senate Finance Committee Chairman Ron Wyden, D-Ore., questions IRS Commissioner Charles Rettig at a Senate Finance Committee hearing.Tom Williams | Pool | ReutersPresident Joe Biden's nominee to lead the IRS answered questions during a…

vitapix | E+ | Getty ImagesPlanning to sell some investments this year? It's less likely to affect your 2023 tax bill, experts say.Here's why: The IRS made dozens of inflation adjustments for 2023, including the long-term capital gains…

Bill Oxford | E+ | Getty ImagesTax season is underway, and the IRS has issued nearly 8 million refunds worth about $15.7 billion as of Feb. 3, the agency reported.The average refund amount was $1,963, down from last year's average payment…

Rep. Bill Pascrell, D-N.J., speaks at a news conference announcing the state and local taxes caucus outside the Capitol on April 15, 2021.Sarah Silbiger | Bloomberg | Getty ImagesA group of bipartisan House representatives relaunched the…

Prathanchorruangsak | Istock | Getty ImagesWhether you're starting a new job or updating retirement savings goals, you may need to choose between pre-tax or Roth 401(k) contributions — and the choice may be more complex than you think.While…

The IRS on Friday issued federal tax guidance for millions of Americans who received state rebates or payments in 2022.The announcement came about a week after the agency had urged those taxpayers to hold off on filing while it determined…

President Joe Biden delivers the State of the Union address on March 1, 2022.Win Mcnamee | Getty ImagesPresident Joe Biden will again call for a "billionaire minimum tax" during his State of the Union address on Tuesday.While details…

dmphoto | E+ | Getty ImagesTax season is underway, and there's been increased scrutiny of the IRS as it starts deploying part of the nearly $80 billion in funding approved for the agency by Congress in August. While Treasury Secretary Janet…

Jeffrey Coolidge | Photodisc | Getty ImagesBlack Americans are roughly three to five times more likely to face an IRS audit than other taxpayers, according to a new study.While there isn't evidence of explicit discrimination from the IRS or…