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

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

Each year the Internal Revenue Service (IRS) sets new income thresholds for the various tax brackets to keep up with inflation. The IRS increased the threshold for each tax tier b ...

Very few people like tax season, but missing out on valuable deductions could mean leaving money on the table. Many taxpayers overlook key write-offs that could lower their bills or put more money ...

Tax filing season has begun. The Internal Revenue Service has information for people who are already filing their returns.

Texas has one of the highest sales and property tax rates in the nation. The state imposes a 6.25% state sales and use tax.

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

Standard deduction is a flat deduction available on the salary income that helps reduce the taxable income of a t ...

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

However, if you're a remote worker filing your taxes, you still might not be able to claim the home office deduction. The home office deduction allows eligible taxpayers to reduce their tax ...