Most taxpayers will be in for a pleasant surprise when they prepare their federal income tax returns for 2025. Last July’s big budget bill made a number of changes to the tax code.

New year, new tax filing. Filing taxes may not be the easiest task, especially with its time-consuming forms and applications. Whether you file with help from a professional or on your own, ...

Taxes may be fact of life, but have you ever been up close and personal with a Form 1040? Here's a beginner's guide to understanding how federal income tax returns work. Many, or all, of the products ...

The tax brackets you fall into determine how much you owe the IRS at tax time. For tax year 2024 (filing in 2025), there were seven brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37%. That will remain the ...

If you don’t know what Net Investment Income Tax (NIIT) is, you’re not alone. This relatively new tax began a little over a decade ago but the number of taxpayers subject to the tax has increased. For ...

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