Like most filers, we usually take the standard deduction, but itemizing our taxes is saving us money this year.

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

The IRS offers various tax breaks for homeowners that can help lessen the financial burden associated with homeownership.

Don’t leave money on the table when you prepare your 2024 income taxes. We’re here to help you claim all the expenses you can ...

I. Investing for tax deduction: Investors must invest before March 31 to be able to claim tax deduction for the financial ...

Often federal tax returns are denied because of errors made by the taxpayer. These errors are often easily fixed if ...

Maximize your tax refund with strategies like adjusting your withholding, contributing to retirement accounts, taking ...

Shah Vs. Deputy Commissioner of Income Tax (DCIT), ruled on the disallowance of a deduction under Section 80-IA due to the delayed filing of Form 10CCB. The case stemmed from the Centralized ...

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

we have to itemize and file Schedule A of Form 1040 to prove we have tax deductions amounting to over $29,200, which is the standard deduction for taxpayers who are married filing jointly.

Form 16 provides details of the deducted tax amount and submission date and helps in ITR filing by ensuring accurate income ...