President Donald Trump says "there's a real chance" tariff revenue can replace the income tax. Economists say a full replacement isn't likely. $3,500 iPhone possible?

For the tax year 2024, the same portion of the earned income tax credit is available for filers with three or more qualifying children with an adjusted gross income up to $59,899 if single and ...

President Donald Trump is floating an idea to dramatically reshape how the country does it finances by using the revenue raised through his tariff policies as a replacement for the federal income tax.

That study found tax revenue for the bottom 90% of Americans is around $576 billion, and estimated that after fewer countries import to the U.S. because of tariffs, there won’t be enough revenue ...

The Income Tax department on Tuesday extended the due date for filing ITRs for Assessment Year (AY) 2025-26 to September 15 from July 31.

Bill S. 129, or the No Tax on Tips Act, creates a federal income tax deduction of up to $25,000 a year for certain types of cash tips for eligible employees.Sen. Ted Cruz (R-Texas) introduced the ...

Minors may need to file taxes independently from their parents, depending on their income and dependency status, not just age. A teen must file their own tax return if they have over $14,600 in ...

NEW DELHI, Dec 26 (Reuters) - India is considering cutting income tax for individuals making up to 1.5 million rupees ($17,590) a year in February's budget to provide relief to the middle class ...

President Donald Trump on Sunday night reiterated an extraordinary ambition he and members of his administration have voiced from time to time throughout his young second term: One day, Americans ...

Direct taxes are levied on taxpayer’s income and profits; however, indirect taxes are charged on goods and services. Let's understand in detail about tax system.

Gross income for an individual is your total income before taxes and other deductions. Gross income for a business is a figure calculated by taking total revenue minus the direct cost of producing ...

Federal income tax is a necessary evil, but residents in a few parts of the country don't have to pay state income taxes. Eight U.S. states don't impose any kind of income tax and one only taxes ...