News and in-depth features about tax, accounting, auditing, and other business topics. Published by the American Institute of ...

Commerce secretary said President Trump wants to revamp the tax system, drop income taxes for people making less than $150K.

including federal tax brackets, in order to prevent people from being pushed into higher income tax brackets solely due to inflation. The income needed for the highest bracket in 2024 at 37% is $ ...

If you’re a single filer and under 65, you probably have to file a tax return if your 2024 gross income was at least $14,600. That threshold jumps to $16,550 if you’re 65 or older. If you use ...