Many Americans will see bigger refunds and new deductions, while others may be revisiting the dreaded alternative minimum tax ...

The IRS allows you to claim deductions that reduce the amount of tax you owe. Those deductions either are itemized deductions ...

Union Budget 2026 proposes a major tax change by disallowing interest deductions on borrowings used to purchase shares and ...

The annual budget for year 2026-27 was presented before Parliament by the Finance Minister Ms Nirmala Sitharaman on February ...

Hundreds of people lined up Friday afternoon outside a public hearing in the Senate Ways & Means Committee at the state ...

In this week's Ask the Editor Q&A, Joy Taylor answers questions on federal income tax deductions ...

The Earned Income Credit can reduce your tax liability and provide a refund. Learn about the updated AGI limits, QC rules and common pitfalls.

The tribunal ruled that penalty under Section 270A cannot survive when income is assessed purely on estimated gross profit after rejecting books. Additions based on estimation do not amount to ...

The issue is the absence of a precise statutory definition of income. Courts have expanded its meaning to cover all real economic gains unless specifically ...

You've worked hard. You've saved diligently. You're finally approaching retirement and ready to enjoy the fruits of decades ...

The maximum child tax credit increased to $2,200 in 2025 based on changes enacted via President Donald Trump's "big beautiful ...

Many Americans could see smaller tax refunds in 2026 as a result of tax law changes and updated withholding tables. These adjustments may reduce the amount overpaid during the year, lowering refunds ...