Many people will be thrilled to see larger-than-usual federal income tax refunds — some may end up $500 to $1,000 bigger than ...

Union Budget 2026: Finance Minister Nirmala Sitharaman has maintained the standard deduction at Rs 75,000 for salaried individuals and pensioners under the new tax regime in Budget 2026. This ...

The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.

OBBBA has introduced a ‘Seniors Deduction’ for retirees over 65, of up to $6,000 for individuals ($12,000 for couples), in 2026 tax filings.

Here's a look at some of the most commonly assumed tax breaks that either no longer exist or simply don't work the way people expect any more.

The Internal Revenue Service has released proposed regulations clarifying how a new auto loan interest deduction will work, offering dealerships and consumers detailed guidance on which ...

What is the standard deduction? Most taxpayers claim the standard deduction, a fixed amount you can deduct to reduce your taxable income and lower your federal tax bill. Unlike itemized deductions, ...

(NewsNation) — Tax filing season opens Jan. 26, the day the Internal Revenue Service begins accepting tax returns. As a taxpayer, you pay tax as a percentage of your income in layers called tax ...