All wagering and loitering winnings are susceptible to typically the 24% federal tax withholding, as well” “while state and community taxes. Once you’ve reported gambling winnings for federal taxes, ...

The IRS introduces Schedule 1-A for 2025, letting you deduct qualified tips, overtime pay, vehicle loan interest, and ...

Taxpayers face a learning curve for figuring out how key tax deductions in the mega tax bill will work when they file 2025 tax returns next year.