Tax deductions can lower the amount of income that is subject to tax. Here's more on how tax deductions work, plus 25 tax breaks that might come in handy.

Many of the most impactful tax provisions in the "One Big Beautiful Bill" (OBBB), which President Trump signed into law on ...

Using a tax prep checklist can help reduce your tax-time stress. Here's a roundup of the documents and information you'll need to file your tax return this year.

Transitional guidance released by the IRS on Oct. 21 gives auto lenders room for avoiding penalties when it comes to ...

A number of changes are in store for taxpayers in the coming years and the Internal Revenue Service just gave insight into how some of those changes might look when it comes to your returns.

Joy Taylor: Yes. Taxpayers who itemize on Schedule A can deduct qualifying medical expenses to the extent that the total ...

The Trump administration released its preliminary list of occupations not required to pay income tax on their tips under Republicans’ new tax cuts and spending bill. Occupations that qualified were ...

Taxpayers who donate to the causes that are close to their hearts have a new reason to celebrate — and to give: The massive new tax law includes a valuable new tax deduction for qualified charitable ...

Clowns entertain crowds at local fairs by twisting skinny balloons into poodles and swords. And now, the dollar bills thrown into that top hat on the ground could fall into the new "no tax on tips" ...

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) are rolling out guidance on the new “No Tax on Tips” provision under the One Big Beautiful Bill Act (OBBB Act), ushering in a ...

Tax cuts are the centerpiece of a massive legislative package championed by President Trump and passed Tuesday by Senate Republicans. Stream NBC 5 for free, 24/7, wherever you are. Many new tax breaks ...