High-yield savings accounts and CDs were much more profitable in 2024 than in prior years, potentially leaving some taxpayers with a larger tax bill. Experts say there are some ways to defer or offset ...

Key Takeaways Most of the provisions of the Tax Cuts and Jobs Act are set to expire at the end of 2025. The tax-cut package lowered rates across the board, increased the estate and gift tax exemption, ...

As tax season rolls around, you may have a number of questions on your mind — including whether your mortgage interest is tax deductible in 2025. The short answer is yes, but whether or not ...

These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...

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.

The Social Security Administration (SSA) provides critical financial support to millions of Americans through programs like ...

Oregonians have more options for free online tax prep for the 2025 filing season. Some may qualify for the IRS Free File ...

Divorce is a significant life transition that brings about various changes, including how you handle your taxes. To ensure a ...

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

Many Americans may think that because they work from home, they can take tax deductions for a portion of their rent, utilities and more. Not so fast. Not everyone qualifies to do that. Wage ...

The change, part of a much larger overhaul of tax policy, limited deductions for state and local taxes — SALT in the political vernacular — on federal tax returns to $10,000. The limit has the ...

The Internal Revenue Service has set its calendar for the upcoming tax-filing season: Americans can start submitting their income-tax returns on Monday, Jan. 27. As people send in their 2024 ...