The IRS will soon distribute $2.4 billion worth of stimulus checks to taxpayers who didn't claim the Recovery Rebate Credit on their 2021 tax returns.

The Tax Cuts and Jobs Act of 2017 made major changes to the tax code and were a mixed bag for some households. While the standard deduction nearly doubled and the child tax credit increased, many ...

Depending on your tax-filing status, you are entitled to take one of the following standard deductions for the 2021 tax year: Single or married filing separately: $12,550. Head of household ...

The standard deduction is a popular way for taxpayers to reduce their taxable income. Your deduction amount depends on your age, filing status and other factors. Many, or all, of the products ...

The IRS on Tuesday proposed regulations on the limit publicly held companies can deduct from their income taxes for certain employee remunerations following the passage Covid-19 relief.

Standard deduction A fixed dollar amount based on your income and tax filing status that reduces the amount you’re taxed on. Consider it tax-free income that you keep before taxes apply to the rest.

Unfortunately for retirement savers, the maximum amount that can be contributed to a traditional IRA in 2021 remains the same as it was for the last two years. Let's hope the limit is increased ...

Craig Anthony, CFA, is the founder and CEO of the Craig Anthony Group LLC. He is also an Investopedia contributor and published author. Erika Rasure is globally-recognized as a leading consumer ...