The New Income Tax Bill, 2025 set to take effect from April 1, 2026, represents a comprehensive overhaul of the existing tax framework. It consists of 536 clauses, 16 schedules, and 23 chapters, ...

The main objective of the new income tax bill is to streamline the existing Income Tax Act of 1961 to enhance comprehension of income tax laws among the general public and minimise legal disputes.

(or even yourself) in a tax-advantaged way. Although 529 savings plan contributions aren't deductible on your federal income ...

Lawmakers adopted the Tax Cuts and Jobs Act (TCJA) of 2017 and it represented the most significant tax policy overhaul since ...

The IRS honors the victims of natural disasters like fires and earthquakes with extended deadlines and tax relief ...

Tax season is around the corner, and prices on tax software won’t stay this low. H&R Block Deluxe + State helps you file with ...

On the most basic level, artists who may not earn much or any of their income from the sale of their artistic output need to prove to the IRS that they are professionals and not just dilettantes.

Anyone who thought that the momentum towards federal liberalization of marijuana would be a straight line found themselves with a cold dash of ...

The home office deduction could provide a tax break on your 2024 return. Here’s who qualifies and how to claim it.

What will the tax implications be for CPA clients and practice owners? Where are interest rates headed? What about inflation?

Article Sources Investopedia requires writers to use ... Internal Revenue Service. "Credits and Deductions for Individuals." Internal Revenue Service. "Federal Income Tax Rates and Brackets." Internal ...

The bill laying out Gov. Mike Braun’s plan for property tax cuts passed out of committee Tuesday, but it included amendments ...