"Generally, a standard deduction is the best choice for taxpayers whose total itemized deductions do not add up to more than ...

Most of the time, you'll probably find that any given tax credit is "nonrefundable," meaning that it can only decrease your ...

The 2017 Tax Cuts and Jobs Act (TCJA) is set to expire this year, yet only 45% of Americans are aware of it, according to the ...

"Interest on home equity loans and lines of credit are deductible only if the borrowed funds are used to buy, build, or ...

For as long as Americans have paid federal income taxes, they’ve been able to subtract some of what they pay to their state ...

The Form 1040 is an official document used by U.S. taxpayers to file their annual income tax returns. It includes sections ...

“There are two valuable credits that the IRS reports one out of five people miss every year. The Earned Income Tax Credit is up to $7,830 for a family with three kids and the Retirement Savers Credit ...

Tax relief is an avenue to explore if you owe more money in taxes than you can reasonably shoulder. One good way to reduce ...

Sometimes a tax deduction is just plain weird. Here is a roundup of weird and legal tax deductions. Will you be deducting any of these on your next return? Some tax deductions are weird and ...

In a notification issued on 23 April 2025, the CBDT stated that taxpayers cannot claim deductions for settlement payments arising from legal proceedings under the Securities and Exchange Board of ...