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 ...

The IRS is always on the lookout for tax returns that just don't make sense. Making these five errors can increase the chances that your return will be audited.

The initial plan calls for $4.5 trillion in tax cuts and at least $1.5 trillion in spending reductions, along with an ...

Barely a month after predicting a new "golden age" under President Donald Trump, congressional Republicans are struggling to ...

The home office deduction could provide a tax break on your 2024 return. Here’s who qualifies and how to claim it.

If you’re not sure which ones you may qualify for, here are some common deductions and credits new tax return filers can take ...

Fact checked by Giselle Cancio The Internal Revenue Service (IRS) reports that more than 9 million taxpayers failed to claim ...

Many taxpayers may be surprised by a larger tax bill if the TCJA isn't extended. Check out these proactive strategies to help ...

If you lived with another person in 2024 If you lived with another person at any time in 2024 and in the first 60 days of 2025, you need to determine who can claim the deduction for child care ...

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 ...

“The benefits of the deduction go primarily to high-income taxpayers because high-income taxpayers tend to itemize more often, and the value of the deduction increases with the price of a home,” ...

On top of a new presidency, changing economic tides and more, we have another crucial money event to focus on soon: tax ...