Low-income tax filers and families should especially take a close look at tax credits while they file their tax returns. The ...

It’s now the norm for Americans to file their taxes online — the IRS reports that more than 90 percent of individual tax returns were e-filed in 2023, the most recent data available. Even most profess ...

New Tax Regime: Initially, the new tax regime offered no standard deduction, but that changed in 2023 with the introduction of a Rs 50,000 standard deduction. In 2024, this was increased to Rs ...

This budget is highly anticipated, with particular focus on potential changes to income tax structures and standard deductions that could impact salaried individuals and the middle class.

The state’s standard deduction is set to expire this year, and Republican and Democratic lawmakers who want to make sure it doesn't. “It’s almost a billion dollars into the pockets of ...

The inclusion of standard deduction and benefits for NPS has further enhanced its appeal. The standard deduction is a fixed deduction available to salaried individuals that aids in reducing their ...

The change, part of a much larger overhaul of tax policy, limited deductions for state and local taxes – SALT in the political vernacular – on federal tax returns to $10,000. The limit has the ...

Budget 2025 income tax expectations: Standard deduction is a flat deduction available on the salary income that helps reduce the taxable income of a taxpayer. Personal tax experts are of the view ...

Many taxpayers are wondering if the government is going to scrap the old tax regime and whether popular tax deductions and tax benefits like HRA, Section 80C, and standard deduction, etc. will find ...

As the Union Budget 2025 approaches, there’s growing anticipation among salaried employees and pensioners for a potential rise in the standard deduction limit. Experts predict this adjustment ...

Standard Deduction: Income taxpayers can lower their income without providing any documentation or disclosures by using the standard deduction, which is a fixed sum subtracted from taxable salary ...