The IRS has issued proposed regulations for the temporary car loan interest deduction enacted under the new tax law.

The so-called "no tax on car loan interest" promise has enough dents and dings to leave plenty of car buyers upset when they ...

The IRS has increased the standard deduction for the 2026 tax year. Find out the new amounts and how this change could lead ...

Tax deductions reduce your taxable income, but tax credits reduce your bill dollar for dollar. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

Two types of tax breaks stand out among all the lingo: credits and deductions. Each lowers your tax liability, which is the total annual tax owed on your income. (That figure can be found on line 24 ...

Many tax deductions, such as charitable donations and business supplies, are well known, but some are more obscure. With tax season upon us, here’s a look at how tax deductions work and three ...

It's tax season, and Americans are confronted by a lot of tax jargon when preparing their returns. Stream NBC 5 for free, 24/7, wherever you are. Two types of tax breaks stand out among all the lingo: ...

H.R. 1, P.L. 119-21, the law commonly known as the One Big Beautiful Bill Act (OBBBA), contains provisions of special ...

Under the One, Big, Beautiful Bill, workers may be eligible for new deductions for tax years 2025 through 2028 if they ...

These changes may offer substantial income and estate tax planning opportunities, especially for taxpayers who reside in a ...

Understanding your 1040 is the best way to legally minimize your taxes. Top tax professionals will tell you that effective tax planning needs to be proactive, not reactive. The best tax planning needs ...