Modified adjusted gross income (MAGI) is often used by the IRS and other federal agencies to determine your eligibility for ...

Discover who must file Form 1040 or 1040-SR in 2025, key deductions, and credits. Learn filing deadlines, penalties, and electronic options for accurate tax ...

Up to 85% of your Social Security benefits may be taxed, but a new "senior deduction" can cut taxes—unless your income is too ...

The IRS says goodbye to the summer by adding a new form, Schedule 1-A, to make it simpler for Americans to access deductions in their 2025 tax filings. For the first time ever, emp ...

Do I have to pay taxes on my Social Security retirement benefits? I heard that President Trump’s big, beautiful bill eliminated that. What can you tell me? No, the new law, better known as the ‘One ...

Man Filling In The Tax Form 1040 for 2024 Year. Person Calculates of Planning Budgets Yearly Personal Finance and Fills up US Tax Form 1040 For 2024 Year. Signing 1040 Income Tax Return For 2024 Year.

Gambling wins—whether from an Atlantic City slot pull, an online casino bonus round, a same-game parlay, a DFS lineup, or a raffle—are taxable income. You report them to the IRS and, if you’re a New ...

Buying a home is an exciting milestone, but it often comes with a long list of unexpected fees. One of the most common questions from new homeowners is: Are closing costs tax-deductible? The short ...

Social Security benefits are for recipients of (RSDI) retirement, survivor, and disability insurance benefits. Therefore, these beneficiaries get money from the Administration because a worker paid ...

Taxpayers often make mistakes when filing their taxes, such as inputting incorrect personal information or making math errors. Choosing the wrong filing status or claiming ineligible credits can lead ...