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IRS GUIDELINES FOR DEDUCTIONS
Americans could get $1,700 back in a new tax credit; here's who qualifies and how to claim itA new federal education tax credit is putting up to $1,700 back on the table for eligible Americans, and families across the U.S. are start...- New $25,000 tip tax deduction explained: who qualifies and how to claim itThe new $25,000 tip tax deduction applies from 2025 through 2028. File IRS Schedule 1-A to claim it. Only voluntary tips qualify. Income li...
- IRS Tax filing mistakes in 2026: Are simple errors triggering IRS audits, refund delays, and costly penalties for millions?Over 160 million IRS tax returns will be filed in 2026, and small tax filing mistakes can delay refunds or trigger an IRS audit. The 2026 t...
- Trump administration says one household income could owe zero federal taxes in 2026 - see how families may save thousands this yearThe 2026 tax season begins January 26. New laws change how much you owe. A family earning $73,000 can now pay $0 in federal taxes. This hap...
- Filing for 2026? Key tax changes you need to know to get the biggest refundThe 2026 tax season begins January 26 with historic changes. Paper checks are officially dead; direct deposit is now mandatory for fast ref...
- Important Social Security update: New payment rule begins, with notable exceptionsNew Social Security payment rule takes effect in 2026: Social Security has entered a digital-only era in 2026. Following the September 30 d...
- How the 2025 tax law changes your 2026 return: What to know before you fileThe One Big Beautiful Bill Act of 2025 introduces significant tax changes for 2026 filings. Key reforms include new deductions for tips and...
- $6,000 deduction for Social Security recipients approved under OBBBA but with a caveat - Check out the eligibility criteriaA new $6,000 tax deduction for Social Security recipients aged 65 and older is available from 2025-2028 under the OBBBA. This benefit, aime...
- Up to $25,000, tax-free: A little-known IRS rule is creating a rare cash opportunity for AmericansAmericans could miss up to $25,000 in tax-free tips and overtime deductions under new IRS rules. Only voluntary tips and the premium portio...
- Why Income Tax Act 2025 still criminalises small mistakes and why India needs a more trust-based approachIndia's tax system is set for a major overhaul with the Income-tax Act, 2025. The Finance Bill, 2026, should consider decriminalizing minor...
- Big win for depositors: Bank cannot lower FD rate once booked, rules Allahabad High CourtBanks cannot unilaterally cut fixed deposit interest rates after they are booked. The Allahabad High Court ruled this in favor of FD holder...
- Your wrong tax refund claim can raise a red flag leading to tax notices and even jail in case of under-reporting of income; here’s how to avoid itEmployees who attempt to cheat the system with bogus tax deductions risk facing severe repercussions. The Income-Tax Department is now harn...
- The Golden 401(k) rule: How much to contribute for a secure retirement futureRetirement planning is critical in 2025 and 2026. Maximize 401(k) contributions for secure retirement. Understanding the golden 401(k) rule...
- Born in apartheid-era South Africa, Australia’s antisemitism envoy Jillian Segal champions defunding plan to curb Jewish hateAustralia's special envoy, Jillian Segal, has proposed a strategy to combat antisemitism, potentially cutting funding to institutions that ...
- 2025 Tax Refund Delays: Why your IRS refund is late and how to track your missing payment; here's all what you need to know about IRS refund timelines2025 Tax Refund Delays have left many taxpayers frustrated as they wait for their IRS refunds. With processing slowdowns, identity checks, ...
- US income tax season: Key points to know before filing your returnThis year, the official IRS filing and payment deadline is April 15. Once you file your taxes, you can track your refund on the IRS website.
- How to claim LTA from your employerBefore availing of the tax benefit on LTA, there are, however, certain other important conditions attached to it. Read on to know them. Do ...
- Do you have to report cryptocurrency investments as foreign assets in your income tax return?As per current laws, there is no clarity on whether crypto holdings are classified as Indian or foreign assets. In case it is the latter, t...
- IRS giving relief to some Madoff investorsThe Internal Revenue Service is allowing tax relief and refunds for some investors who paid taxes on earnings from their investments with B...
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