Most people claim the standard deduction on their federal tax return instead of itemizing deductions. How much can you claim?

It might be challenging to think of the Internal Revenue Service as offering taxpayers choices. After all, income taxes aren’t optional. However, the IRS empowers you with one clear choice every time ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

WASHINGTON, DC - MARCH 10: (L-R) Rep. Vern Buchanan (R-FL) talks with committee chairman Rep. Jason Smith (R-MO) during a House Ways and Means Committee hearing. (photo by Drew Angerer/Getty Images) ...

There is an above-the-line deduction available for many individual taxpayers for qualified tuition and related expenses. The deductible expenses are defined in the same manner as they are for the ...