WASHINGTON — The Internal Revenue Service has already begun issuing refunds to more than 50,000 taxpayers who benefited from the adoption tax credit carryforward and expects the refund process for ...

You can claim tax relief from previous years that you missed during filing. Learn IRS deadlines and when refunds, credits or ...

Quick ReadThe IRS pro-rata rule taxes backdoor Roth conversions based on your entire IRA pool, making a $7,500 conversion ...

- A 63-year-old mistakenly rolled $60,000 of after-tax 401(k) funds into a traditional IRA, triggering double taxation by the IRS. - Form 8606 tracks after-tax IRA contributions but fails to prevent ...

After-tax 401(k) contributions already survived one round of income tax, but a standard rollover to a traditional IRA puts them squarely in the crosshairs of a second. One obscure form stands between ...

A by-the-book backdoor Roth conversion can still hand the IRS a surprise tax bill, and the culprit is an IRA you opened years ago and probably forgot about.

Consider a 58-year-old consultant who does a standard 2026 backdoor Roth and still owes the IRS $1,665. She makes too much to contribute directly to a Roth. So she contributes $7,500 to an IRA without ...

We independently evaluate all of our recommendations. If you click on links we provide, we may receive compensation. Lars Peterson joined Investopedia in 2023 as a senior editor of financial product ...

Four new tax deductions are available on federal returns for eligible taxpayers whether they itemize deductions, such as claiming mortgage interest, or claim the standard deduction. All four big tax ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. If you receive money from a lawsuit, as with most legal ...