A new tax deduction for tip income is available for 2025 federal income tax returns. Learn the new form to file, who qualifies, and income limits.

Starting Jan. 1, 2024 the mileage tax deduction will now be 67 cents per mile driven — up 1.5 cents from 2023. Find out if ...

Ramp reports that employee reimbursements are non-taxable under accountable plans but taxable under non-accountable plans due ...

Don't worry if you tossed a few receipts this year. These tax deductions can still be claimed in 2026 with bank statements or ...

Millions of seniors who receive Social Security benefits will get a ‘bonus’ tax deduction this year. The new $6,000 deduction goes into effect for the 2025 tax year and will continue through 2028 for ...

Experts say the average return is going up $1,000. "So, if you're a parent, the child tax credit increase to $2,200 per dependent, child under 17. If you're a homeowner, the state and local income tax ...

Early-bird tax filers will be happy to know that the Internal Revenue Service will begin accepting and processing 2025 income tax returns on Monday, Jan. 26. Taxpayers are likely to be shocked to ...

Americans can expect smaller tax bills and bigger refunds this year—after they navigate a pile of new rules from last year’s tax law. “Any time people have big life changes or there are law changes, ...

Tax-filing season has officially begun and will run though April 15. Hassle though it may be to file your federal income tax return, if you are like a majority of US filers, you will get a refund soon ...

Tax deductions and tax breaks in 2025-2026 can still meaningfully reduce how much you owe the IRS. The biggest opportunities come from the standard deduction, credits for children and dependents, ...

The tax law changes of 2025 don’t end Social Security taxes, but they boost deductions for those 65 and older, cutting taxable income and bills for many retirees. The standard deduction rises to ...

As homeowners across the U.S. prepare to file their taxes this season, they may be wondering what deductions they qualify for and whether it's worth itemizing or sticking with the standard deduction.