Are IRS Penalties Tax Deductible?
The U.S. tax code does not allow taxpayers to deduct penalties assessed by the Internal Revenue Service. However, they may ...
The state and local tax deduction could change amid Trump's tax cuts debate. Here's what to know.
As lawmakers debate President Donald Trump’s tax cuts, a key deduction could become a sticking point in 2025 tax negotiations ...
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IRS Inflation Adjustments: How to Use the Standard Deduction to Your Advantage
The IRS has announced inflation adjustments for 2025, bringing positive changes to tax credits and deductions. These ...
How much is the standard deduction for 2024 income? How it works and who is eligible
A portion of American taxpayers’ earnings are exempt from taxation. This amount is known as the standard deduction and is ...
Trump says he wants interest on car loans tax deductible if US-made
President Donald Trump said he wants to make interest payments on car loans tax-deductible – but only for vehicles made in the U.S.
Trump Highlights Investment Tax Deduction, Promises Jan. 20 Retroactive Date
President Trump highlighted a tax cut for which many businesses have been clamoring – full and immediate deductions for ...