The U.S. tax code does not allow taxpayers to deduct penalties assessed by the Internal Revenue Service. However, they may ...

As lawmakers debate President Donald Trump’s tax cuts, a key deduction could become a sticking point in 2025 tax negotiations ...

The IRS has announced inflation adjustments for 2025, bringing positive changes to tax credits and deductions. These ...

Small unincorporated businesses were among the biggest beneficiaries of the TCJA. They received a 20% tax deduction, ...

President Donald Trump said he wants to make interest payments on car loans tax-deductible – but only for vehicles made in the U.S.

President Trump highlighted a tax cut for which many businesses have been clamoring – full and immediate deductions for ...