One of the most common questions employees ask when reviewing their pay stub is: “Why isn’t any federal income tax being withheld from my paycheck?” While it can feel alarming, there are several legitimate reasons this can happen. Understanding the “why” can help...
This Fact Sheet provides answers to frequently asked questions (FAQs) about the new deduction for qualified overtime compensation, such as who may be eligible to claim the deduction, including federal employees, and where to find supplemental information on...
WASHINGTON — The Internal Revenue Service announced that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents in 2026, while the mileage rate for vehicles used for medical purposes will decrease by half a cent, reflecting...