It doesn't take a high income to land in a high tax bracket. A single adult earning $48,000 finds themselves paying 22% on ...

Plus: President Trump signs executive orders before tax season, beneficial ownership information (BOI) reporting updates, ...

A month before IRS Commissioner Danny Werfel resigned Jan. 20, he announced a plan to get stimulus cash to 1 million ...

The IRS has made the tax credit available to anyone who missed filing for certain credits or claiming essential refunds in 2020. There are specific income requirements to be met and the program is ...

Millions of survivors of natural disasters will get much-needed tax breaks on compensation, but it’s only a drop in the bucket. The Federal Disaster Tax Relief Act brings tax relief to victims ...

In 2020, the finance minister unveiled the new tax regime, which offered taxpayers the option to pay lower tax but forego ...

Tax Write-Offs You Shouldn’t Overlook You may be eligible for new tax breaks for the 2020 tax year. Don’t overlook the following credits and deductions. The true total cost of tax evasion ...

However, with the passage of the Tax Cuts and Jobs Act of 2017, the standard deduction nearly doubled, which has resulted in fewer people itemizing their deductions now. During the 2020 and 2021 ...

Although one might expect that means that taxpayers wanting to amend their 2020 ... deductions, which accounted for most legal fees, were “suspended” for 2018 through 2025 tax years.