Page 11 - Standard Deduction News Today

A House panel has passed a bill that would temporarily expand the standard tax deduction used by the majority of taxpayers by $2,000 per person for the next two years.

A House panel has passed a bill that would temporarily expand the standard tax deduction used by the majority of taxpayers by $2,000 per person for the next two years. The Tax Cuts for Working Families Act (H.R.3936) recently approved by … Continue reading → The post Temporary Tax Plan Could Boost Your Standard Deduction By Up to $4,000 appeared first on SmartAsset Blog.

If an individual owns the house property, then it may happen that he/she has some income from that property. However, not many people understand the correct way of calculating income from house property for ITR filing purpose. Here is how an individual can calculate income from house property for ITR filing this year.

House Republicans on Friday introduced legislation providing new tax breaks for individuals and businesses in an attempt to outline a policy agenda for the rest of the congressional session after weeks of dealing with the debt limit standoff.

Seniors over the age of 65 who meet certain qualifications are now eligible for a new standard deduction when filing their taxes.

Here's what to know about the dependent tax deduction and related credits to better navigate your family's taxes.

Tax deductions on such leases will help bring down the cost of a vehicle by at least 20-40%.Car leasing allows an individual to use a vehicle for a specified duration by paying rentals regularly

The official tax filing day in the U.S. is Tuesday, April 18 this year. And if you're trying to qualify for every deduction you can, you need to know what's available to you before you drop your tax...

Penalties for filing taxes late are deliberately set high enough to encourage taxpayers to file in a timely manner. On top of that, the IRS can impose additional penalties and interest to any unpaid...

Retirement benefits are cash advantages received by retired people in their golden years.