What it's like to do your own taxes for the first time

Americans spend an average of $200 on tax preparation services like TurboTax and H&R Block

In 2025, about half of Americans were able to file taxes directly with the IRS for free. It was the second year of the agency's new program, which cuts out intermediaries. Though tax preparation has been free for many Americans, critics say tax companies upsell customers.

The IRS already has much of the data it asks Americans to report when filing their taxes

Americans spend more than 7.9 billion hours per year doing their taxes: It's notoriously time-consuming, requiring forms, deductions, and often third-party help. But here's the twist: The IRS already has much of the data it asks you to report. Americans still have to do the work themselves partly due to big tax prep companies that lobby to keep the status quo.

Read why the information Americans have about our tax system might be misleading

For many, filing taxes can be complicated and overwhelming. Some argue that the tax system obscures certain aspects of the US tax code, making it difficult for taxpayers to accurately assess potential reforms.

Read about what happened when one woman started filing income taxes again

Even though she was 35 and had a 14-year-old son, Gabriela Gallegos's mother had claimed her as a dependent on her tax forms for roughly a decade. After that particularly tumultuous ten-year span of Gallegos's life came to a close, she decided to file income taxes again.

How to owe nothing on your federal tax return

Do you know you can avoid owing the IRS money come tax season by making changes to your W-4? For context, a W-4 is the form you fill out when you first start a new job. It tells your new company how much money to withhold from each paycheck for taxes. Find out how to avoid writing a check to the IRS each April in this article.

Watch what happens if you commit tax evasion, from phone calls to property seizure

Tax Day is one of the most dreaded days for working Americans. The IRS responds differently to late filings and late payments. If you don't file at all, the IRS might freeze your assets.

Check out a list of 15 red flags that might result in an IRS audit

The Internal Revenue Service has audited less than 1% of all individual tax returns. If you're still worried about being audited, know that some people are more likely to be audited than others, such as people who make a lot of money and those who take large charitable deductions.

Read about a dating simulation game that helps prepare your income taxes

For the 2022 tax year, prank-playing creative studio MSCHF created a dating simulation game that helped taxpayers prepare their income taxes. In "Tax Heaven 3000," players interact with anime love interest Iris (it's like IRS), and run through a series of questions that complete their taxes. Iris also warns the player to stay away from tax-preparation companies like TurboTax.

80% of Americans are bothered that some wealthy people don't pay their fair share of taxes

That's according to 2021 data from Pew Research Center. While most people are taxed on their income, many people in America's 1% make money off of their investments instead.

What's your tax filing status? Find out with this video

There are five different filing statuses taxpayers fall under when they file income taxes: single, married and filing jointly, married and filing separately, head of household, and surviving spouse. Taxpayers' status is determined by whichever category they fit into on December 31st of the tax year they're filing for.

Take a bankruptcy self-filing quiz

If a debtor is considering filing for Chapter 7 bankruptcy, it may be tempting to take a do-it-yourself approach to avoid attorney or preparer fees. However, experts caution that this could come back to bite filers. A quiz can help would-be filers explore whether their cases are complex enough to necessitate a lawyer.

Calculate your capital gains tax bill

If mental math is not your forte, a handy tool can help you figure out what you owe at tax time. Find the purchase and sales price of an asset, your taxable income, your tax filing status, and the length of time you held said asset, and you'll get your total for Uncle Sam.

Calculate how much of your tax dollars go to each federal program based on your income, filing status, and number of children

Read why some states are considering imposing a flat tax rate that isn't adjusted by income

Wisconsin was the first US state to impose a state income tax, close in time to when the federal income tax went into effect. Many states followed suit, but nine states to this day still don't levy wage-related taxes.

One reason Americans are bad at math

The president of Barnard College explains why we need to better understand the links between math anxiety, math avoidance, and the US’s dismal test scores.

Roth IRAs were first introduced in the Taxpayer Relief Act of 1997

The Roth IRA is one of the most popular retirement accounts in the US. Nearly a quarter of Americans contributed to a Roth IRA in 2023. But this type of financial account hasn’t been around for that long.

Pay transparency 101

The star of this Harvard Business Review video interviews experts—from an organizational psychologist and business professor to a TikToker who asks people how much money they make—to get to the bottom of core issues about pay transparency. Why is talking about money becoming less taboo? How do pay transparency laws impact workers, employers, and office culture? Watch this video to find out.

Find out what it's like to work in the gig economy

If you’re thinking about being a gig worker—for example, an Airbnb host, Lyft driver, or DoorDash delivery person—keep this article in mind before you start. This article outlines particular concepts prospective gig workers should think about before signing up for gig work, such as upfront costs and budgeting for taxes.

A third of Americans don't have the cash they need to cover a $500 emergency

That's according to a 2023 Federal Reserve survey. So what does the average American in this camp do when, say, their car breaks down? This video compares six of the most common ways Americans get money when they don't have it. As it turns out, some of them opt for payday loans, which this video argues are predatory.

Why you may hate the sound of your voice

It's a relatively common experience to cringe while listening to a recording of your own voice. This Popular Science article offers physiological explanations for the discrepancy between what we hear when we speak versus what others hear. The piece also expands on the psychology behind this discontent, and how our voices influence our self-perception and social interactions.

A beginner's guide to creating your own NFT

It took 12 hours and three different Apple devices, but this 30-something poet successfully minted her first NFT, and so can you. Here’s a step-by-step guide to creating an NFT.

The do's and don'ts of using AI to manage your finances

Experts suggest avoiding asking AI for investment advice, but say it's useful for basic budgeting help. Read this article to learn more.

How COVID-19 brought new investors into the market

With fees removed from the equation and more time at home thanks to pandemic-related lockdowns, Americans who had never bought or sold stocks before started participating in the market. Charles Schwab dubs this cohort “Generation Investor” and notes individuals from all age ranges took part in this phenomenon. Study up here.

Should married couples combine finances?

Millennials who live together are more likely to keep their finances separate than any previous generation. After all, as people get married later in life and enter marriage with more assets and financial independence, some argue that the traditional route is risky. But others point to research that suggests couples who combine their finances are still happier than those who don't. To learn more, watch this video.

Steps for buying your first hearing aids

Hearing aids have advanced in aesthetics, simplicity, and cost in recent years, but acquiring them can be daunting for first-timers. Experts suggest finding a high-quality audiologist and knowing your rights with medical services. They also recommend buying them sooner rather than later, as hearing issues can compound and grow more costly over time.

The first year of retirement sets the financial tone for later life

The "first year of retirement" rule says the 12 months after you retire from your career and leave the workforce can set the tone for the rest of your financial life—so it's important to approach it mindfully.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

Children are now three times more likely to say they want to be a YouTuber when they grow up than an astronaut, with some even attending 'YouTube camps' that teach kids how to create content for the platform.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

Meet the 56 signers of the Declaration of Independence—most of whom didn't put pen to paper until August 2, 1776—and see their original signatures.

Mark Twain spent decades feuding with the US Postal Service, convinced its costs and regulations were bureaucratic overreach.

Explore an interactive map built from more than 100,000 survey responses on where people find joy in their lives

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

20,000 letters to the advice columnist 'Dear Abby' provide insight into prevailing sex, religion, and LGBTQ fears, anxieties, and concerns from the 1950s onward.

Despite being favored by 87% of Americans, Congress does not have term limits.

When you complete a CAPTCHA on a website to prove you are human, you may be unknowingly training algorithms for self-driving cars, whose systems require training data to help identify crosswalks, bicycles, and other outdoor objects.

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

Play the role of a student in a game where you try to navigate college and remain debt-free, selecting different income levels, high school experience, race, ethnicity, and more.

Take a 3D tour of the Hajj, Islam's annual pilgrimage to Mecca, undertaken by over 1.5 million Muslims.

Lesser-known phobias include turophobia, or the fear of cheese, and nomophobia, the fear of being without your cell phone.

Comedy legend Catherine O'Hara, star of 'Schitt's Creek' and 'Home Alone,' quit 'Saturday Night Live' after just one week to return to her old job.

Discover the catastrophic consequences of a failure of the US electrical grid—something that is more likely than many Americans think.

Learn how your body is, scientifically, like a firework with its own slow, controlled burn.

The Beatles' US label rejected the band's first two singles, 'Please Please Me' and 'From Me to You,' with one executive calling the band 'dead in the water.'

See a ranking of the best (and worst) Federal Reserve Chairs since 1914 out of the 16 men and women who have held the office since.

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

Between 10 million and 50 million people in the US develop rashes from poison ivy, poison sumac, and poison oak each year.