The IRS provides a student loan interest deduction that lets borrowers subtract some of the payments from their taxable ...

There are limits as to how much you can contribute and for income thresholds for individual retirement accounts. For 2024 and 2025, you can contribute $7,000.

The IRS study highlights that income alone doesn't tell the whole story of wealth. Many individuals in the top AGI (adjusted ...

If you have to pay for care for your children or dependents, you may qualify for the Child and Dependent Care Tax Credit.

Free and low-cost tax preparation services can ease the stress for retirees living on a fixed income during tax season.

Freelancers or gig workers can delay billing until 2025 to reduce 2024 taxable income. W-2 employees may be able to defer ...

The IRS says that over one million taxpayers may have missed out on the Recovery Rebate Credit (RRC) claimed on their 2021 ...

No credit is given for taxpayers whose AGI surpassed $80,000 (singles), $120,000 (heads of household) or $160,000 (joint ...

IRS data shows many eligible taxpayers filed a ... No credit is given for taxpayers whose AGI surpassed $80,000 (singles), $120,000 (heads of household) or $160,000 (joint filers).

A married couple with three children who had an AGI of $149,000 would receive $5,600. The IRS is sending these direct deposits to eligible taxpayers who did not receive the original payment and ...

such as TurboTax or TaxAct, these calculations will all be done for you. But it's still important to understand which deductions can reduce your AGI each year since these can be extremely valuable ...

Your adjusted gross income, or AGI, is your taxable income prior to deducting your standard or itemized deductions. The number is used by the IRS to determine whether you qualify for certain tax ...