The Internal Revenue Service (IRS) has recently released the updated Schedule 1 tax form and instructions for the years 2023 and 2024.

Form 1040 is a federal income tax form that most people use yearly to report their tax information to the IRS. Taxpayers fill ...

Whether it's $5 or $5,000, from the track, an office pool, a casino, or a gambling website, all gambling winnings must be reported on your tax return as "other income" on Schedule 1 (Form 1040).

Rules and reporting requirements depend on whether the cash is income or a gift, how much money changes hands and if you're ...

Withholding Procedures Remain Unchanged According to the IRS, taxpayers and employers should continue using current forms and procedures when filing income earned between January 1 and December 31 ...