The IRS on Friday released a draft of Schedule 1-A (Form 1040), Additional Deductions, which includes sections for calculating four deductions allowed under H.R. 1, P.L. 119-21, commonly known as the ...

The IRS introduces Schedule 1-A for 2025, letting you deduct qualified tips, overtime pay, vehicle loan interest, and ...

The Federal Board of Revenue (FBR) has issued the new five-page income tax return form for traders for the year 2025. The form seeks detailed business, financial, and personal information from ...

Many taxpayers are confused about Form 10-IEA, which is required for opting in or out of the new tax regime, especially those with business income using ITR3 or ITR4. Missing the filing deadline ...

Cash gifts and income are subject to IRS reporting rules. Gifts of up to $19,000 in cash are exempt from reporting in 2025. Those who have household employees must report cash payments that exceed ...

New Jersey residents seeking assistance with any of New Jersey's Property Tax Relief programs such as ANCHOR or PAS -1, help is here. The New Jersey Department of Treasury with the local community and ...

The federal estate tax exemption increased again for 2025. Although the higher, IRS-inflation-adjusted number, announced last fall, may not have come as a surprise to most. However, 2025 is a pivotal ...

Editor’s note: This article was last updated Sept. 17, 2025, to reflect the latest list of eligible vehicles. If you’re shopping for or researching an electric vehicle in 2025, you’ve probably heard ...

What are the most common deductible business expenses? How can I claim a home office deduction? What is the difference ...

The Internal Revenue Service (IRS) has released the standard deduction amounts for the fiscal year 2025, a critical component for most taxpayers. As the deadline for federal income tax filing ...

If your late loved one was generous with gifts, then unless they kept good records you might have to turn detective when filling in inheritance tax forms. Even when an estate is not large enough to ...

Now that the dust is settling from the tax changes in Trump’s megabill, here’s one group of winners: older Americans who do their charitable giving using funds from traditional IRAs. Such donations ...