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Latest reporting and analysis tagged with IRS.
The IRS taxes bonuses differently from regular pay, using two methods: a flat 22% rate or aggregation with regular income. Bonuses are considered supplemental wages and are generally taxable, with some exceptions.
IRS Direct File has ended and won't return for 2026 tax season, but multiple free filing options continue including IRS Free File, software free versions, VITA, TCE, and MilTax.
The IRS has outlined eligibility criteria for the 2025 Earned Income Tax Credit, noting that one in five eligible taxpayers miss the benefit. Refunds for those claiming the credit will be issued starting mid-February.