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

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

W ith tax season officially underway, you'll need to know the standard deduction amount you can claim for 2024. After all, most taxpayers opt to take the standard deduction rather ...

The 2024 mileage rate for use of your vehicle to do volunteer work for certain charitable organizations is 14 cents a mile.

More people are making legal sports bets on the Super Bowl and March Madness. But what do gamblers need to know at tax time?

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 ...

Getting a head start on your tax return will hasten your refund if you're getting one. Filing early is also a way to guard against tax-refund fraud, which occurs when a scammer gains access to your ...

Here are some tax terms you should know. Your tax liability is the amount of tax you owe to the IRS or your state government.

As the tax deadline looms many folks are beginning to take a closer look at their situation regarding their taxes and ...

The new income tax regime became the standard tax regime in Budget 2023-24. Standard Deduction: Salaried employees and pensioners can avail a standard deduction of Rs 75,000. Retirement Benefits ...

However, the 30% standard deduction on rental income remains applicable. While the new tax regime doesn’t offer house rent allowance (HRA) exemptions, salaried individuals can still claim ...