Will the standard deduction increase cut taxes on Social Security benefits? For context, the estimated average monthly Social Security retirement benefit in January 2025 was $1,97

The budget bill passed by the House includes a provision to quadruple the state and local tax deduction, a boon for some homeowners.

And private-sector economists broadly agree the legislation, which adds new benefits to an extension of the 2017 income-tax reductions, will be a growth booster.Trouble is, Trump is also raising taxes — on imported goods.

The bill would initially reduce the state's top income tax, and consolidate six income tax brackets into three.

Tax filing deadline looms for one group of U.S. taxpayers -- those who are U.S. citizens or resident aliens now working or living abroad.

The tradition of keeping money deposited in a bank account has been going on for a long time. This money is used at the time of need. Most people are unaware of how much money they can keep deposited in their savings accounts.

Oklahoma legislators are debating an income tax cut amid budget uncertainties. Despite financial unknowns, including potential federal funding cuts, some lawmakers support a 0.25% income tax reduction. Senate and House leaders are negotiating the budget ...

Under the bill, employees would be eligible for an annual income tax deduction of $25,000 for some types of cash tips.