IRAs have contribution and income limits to ensure that they're not used by the wealthy as bloated tax shelters. For 2025, traditional and Roth IRA contributions are capped at $7,000 with a $1,000 ...

Republican leaders in the House are sprinting toward a vote on President Donald Trump’s tax and spending cuts package, ...

ITAT Mumbai held that invocation of revisionary jurisdiction under section 263 of the Income Tax Act on account of difference of opinion is not sustainable in law. Accordingly, revision order passed ...

Republican leaders in the House are sprinting toward a Wednesday vote on President Trump’s tax and spending cuts package, ...

Tax deductions are subtracted from your taxable income, thereby lowering the amount of tax you owe. You can choose the standard deduction or itemize your deductions on Schedule A of Form 1040 or ...

Welcome to Money Diaries where we are tackling the ever-present taboo that is money. We’re asking real people how they spend their hard-earned money during a seven-day period — and we’re tracking ...

President Trump's budget bill could make it much harder for working families to claim their biggest tax refund. The changes ...

WASHINGTON — President Obama's 2015 budget to be unveiled on Tuesday will include a proposal to expand the earned-income tax credit for 13.5 million low-income Americans by closing tax loopholes ...

The "One Big Beautiful Bill Act" could make it harder to claim a low-income tax credit. If enacted as written, the House-approved measure would require precertification for each qualifying child ...

IRA contributions: Enter contributions you plan to make to a traditional IRA. The IRA contribution limit is $7,000 ($8,000 for those 50 and older). You can make a 2025 contribution until the tax ...

If enacted as written, the House-approved measure would require precertification for each qualifying child for filers claiming the so-called earned income tax credit, or EITC, starting in 2028.

The Senate is considering a plan to save a lucrative tax credit for the production of hydrogen that would be scrapped in the tax-and-spending mega bill passed by the House, key Republicans said.