The standard deduction nearly doubled as a result of the Tax Cuts and Jobs Act, which went into effect in 2018. For taxes ...

Finance Minister Nirmala Sitharaman has made a big announcement regarding income tax. She has made income up to Rs 12 lakh ...

Union Finance Minister Nirmala Sitharaman on Saturday announced a major relief for the salaried class. The salaried class ...

What is the standard deduction? It is a fixed amount of money deducted from amount automatically deducted from an ...

Each year the Internal Revenue Service (IRS) sets new income thresholds for the various tax brackets to keep up with ...

With the Union Budget 2025 set to be presented on February 1, Finance Minister Nirmala Sitharaman faces mounting expectations ...

The Budget 2025 is expected to feature some tax reforms potentially taking place as inflation is rising. A standard deduction hike is one of those expectations The Union Budget 2025, the second ...

“Finance Minister Nirmala Sitharaman, in Budget 2025, retained the standard deduction benefit for salaried individuals and ...

If the IRS experiences staff shortages, the ability to process returns as quickly as in previous years could be in jeopardy.

A nonrefundable credit can reduce your tax liability to zero but not below that. Refundable credits can reduce your liability ...

"The mortgage interest tax deduction is a [tax benefit that] allows you to subtract the interest paid on your home loan from ...

People preparing to file taxes for the 2024 tax year may be eligible to claim a student loan tax deduction for interest payments.