The Senate has passed its version of the One Big Beautiful Bill Act - with an expanded Child Tax Credit (CTC) for American ...

The GOP bill adds hurdles for EITC recipients, hitting low-income families hardest while preserving tax breaks for the rich.

Additionally, self-employed individuals must file if they earned $400 or more. Dependents have their own filing thresholds based on income type. Filing late may mean a smaller refund if penalties ...

Living overseas won’t let you off the hook from certain tax obligations, as you’re still required to file a tax return with ...

That threshold increases to 110% if your 2024 adjusted gross income was $150,000 or more, which you can find on line 11 of Form 1040 from your 2024 tax return. However, the safe harbor protects ...

As of December 2024, about 23 million workers received the EITC for tax year 2022, according to the IRS. But 1 in 5 eligible taxpayers don't claim the tax break, the agency estimates.

Federal taxpayers who earn income not subject to withholding may need to make estimated tax payments during the year.

As Senate Republicans debate President Donald Trump's "big beautiful bill", a lesser-known provision from the House-approved package could make it harder to claim a low-income tax credit. Stream ...

If tips were no longer counted as earned income, she could lose more than $5,000 in credits — far more than she’d gain from not paying tax on her tips. And remember, she’d still owe payroll ...

Buried in the "big, beautiful bill" is a provision that would require low-income Americans to pre-certify to get the Earned Income Tax ... got a $2,743 from the credit in 2023, per IRS data, the most ...

The domestic policy bill passed by the House raises the maximum child tax credit to $2,500. But about a third of children would not receive the full credit because their parents have low wages or ...