Increasing the $10,000 cap on the state and local tax deduction could benefit millions of tax filers. But a proposal to do just that has become a point of contention and a possible roadblock to House ...

You may owe capital gains tax on any realized gain on the sale of an asset, but not on unrealized capital gains. Long-term capital gains — that is, on assets held for a year or longer — are taxed at a ...

A progressive tax structure allows low-income earners to pay a smaller proportion of their income as tax compared to high-income individuals, who are taxed at progressively higher rates. A progressive ...

Explore how nonprofit organizations gain federal tax-exempt status under IRS 501(c) and discover the conditions they must ...

Explore how tax relief programs can help you lower your tax bill and settle debts. Learn about deductions, credits, and ...

If you ask owners of businesses big or small about their most costly and complicated expense, you’re likely to get one answer: taxes. Naturally, most will hire a certified public accountant (CPA) for ...

The IRS recently released the inflation-adjusted tax brackets for the 2026 tax year. The updated standard deduction was announced as well. With all other factors being equal, some high earners could ...

Preparing a 2025 tax return is likely to take more time, as workers who received tips or overtime pay in 2025 figure out what qualifies for new tax breaks. IRS gives some very specific examples in ...

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Around the world, economic inequality is fueling both the rise of authoritarianism and protesters going to the streets to ...