“The benefits of the deduction go primarily to high-income taxpayers because high-income taxpayers tend to itemize more often ...

Here are some tax terms you should know. Your tax liability is the amount of tax you owe to the IRS or your state government.

Filing taxes here versus in his home country of Sweden couldn't be a more divergent experience for Jens Peter de Pedro. There, de Pedro receives a tax return with everything filled in by the ...

While adding to your family is an exciting time, a new child also creates some costs you'll want to offset whenever possible. One money-saving move involves revisiting your tax situation. If ...

When you file your tax return, you must decide whether to take the standard deduction -- $14,600 for single tax filers, ...

People preparing to file taxes for the 2024 tax year may be eligible to claim a student loan tax deduction for interest payments.

Several tax breaks, including the Child Tax Credit, may face reforms or be cut entirely as lawmakers seek revenue for Trump’s ...

With the start of a new year, tax season is upon us! Vice President of Member Services at Austin Telco Federal Credit Union, ...

As the tax deadline looms many folks are beginning to take a closer look at their situation regarding their taxes and ...

People will spend an average of $290 on filing their tax returns this year, according to IRS estimates. Individuals will pay $160 on average for tax prep, while the typical business owner will pay ...

What is the Earned Income Tax Credit? The earned income tax credit (EITC) is a federal tax break for low- and moderate-income workers with or without children. Also known as the earned income ...

A nonrefundable credit can reduce your tax liability to zero but not below that. Refundable credits can reduce your liability ...