This change dropped the number of Americans who itemize their taxes from 31% to 9% in 2020. In turn, charitable giving by middle- and lower-income taxpayers dropped significantly, leaving fewer ...

Want to lower your tax bill while supporting your favorite causes? Find out how Qualified Charitable Distributions can help ...

Down payment amounts above $19,000 and received as a gift must be reported on a gift tax return by the person making the gift—not the beneficiary. But that doesn't mean the donor will pay taxes. "The ...

The U.S. Senate has confirmed billionaire investor Scott Bessent as President Donald Trump’s treasury secretary.