Retirees can claim these 7 tax deductions without itemizing. Learn how above-the-line breaks can lower adjusted gross income ...

New IRS Schedule 1-A for 2025 introduces 4 new deductions for tips, overtime, car loan interest and seniors. These changes ...

Major marijuana companies owe the IRS significant back taxes, and pending marijuana rescheduling pushes won't change that, the agency argued.

The Tax Court determined that W-2 wages that are not deductible under Sec. 280E in calculating taxable income are not included when calculating the Sec. 199A qualified business income (QBI) deduction.

ITAT Mumbai held that deduction under Section 80JJAA cannot be allowed when not claimed in the original return of income. Section 80A(5) bars such belated claims raised for the first time before ...

Corporate tax collections are decelerating as companies stay in the old tax regime to take advantage of various incentives ...

As of the 2025 tax year, 16 states and the District of Columbia offer some form of child tax credit, ranging from nonrefundable deductions to fully refundable credits that can generate refunds even if ...

The House Finance Committee recommended two key bills Wednesday sought by Gov. Patrick Morrisey, amending his 10% cut to personal income tax rates to 5% and giving him spending authority over the ...

The Supreme Court remands Tarbela Steel Re-Rolling Mills’ WHT case back to the tax officer, stating tax obligations depend on the location of transactions in former tribal areas.

Plus: “No tax on tips” gets more complicated, Taxing Social Security benefits, tax season filing statistics, Taxes From A to ...

Filing in Indiana for 2025? See what income counts, which deductions apply and how Hoosier‑specific credits can lower your tax bill.