The kiddie tax is a set of tax rules designed to prevent parents from reducing their tax burden by shifting investment income to their children. It applies to children under the age of 18, or ...

Custodial accounts are a common way for parents and grandparents to save or invest on behalf of a minor, but they often raise tax questions. The IRS generally treats the minor as the taxpayer but ...

If a child collects a sizable amount of money from investments or other sources of unearned income in a given year, their parent or guardian will likely need to pay taxes on it. While a portion of the ...

Federal income tax applies to most people who earn income in the U.S., but the tax code includes limited exceptions. Whether ...

(NewsNation) — If your annual income is less than $5,000, you typically don’t need to file a tax return. However, there are several factors to determine if you need to file a return, including filing ...