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

Although Trump enacted the $10,000 SALT cap in 2017, he reversed his position last year on the campaign trail, vowing to “get ...

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

A portion of American taxpayers’ earnings are exempt from taxation. This amount is known as the standard deduction and is ...

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 ...