About 144 million Americans may qualify for the 2026 universal charity deduction, while high earners face new IRS limits.

Whether you’re filing for the first time or have been around the tax return block, it’s easy to confuse tax credits and deductions. Although both can help lower your tax bill, the IRS describes a tax ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

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 ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Lea Uradu, J.D., is a Maryland state ...