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 Inflation Adjustments announced by the IRS affect some amounts in credits and deductions for 2025, for the better, as tax ...

With taxes, it can pay to keep things simple. These 5 tax deductions let you trim your tax bill without itemizing.

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

During Donald Trump’s speech Tuesday before a joint session of Congress, the president reiterated his promise to make interest on car loans tax deductible — but only if the vehicle is made in ...

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