The year 2023 witnessed a notable increase in federal gift/estate tax and generation-skipping tax exemptions due to inflation. Strategic decision-making considering these adjustments is essential ...

The federal tax rates themselves haven’t changed from 2023 to 2024, since they’re not impacted by inflation from one year to ...

Tax filing season has begun. The Internal Revenue Service is now accepting and processing 2023 federal income tax returns. Filing your taxes is a task you may not like, but it’s one you can’t ...

The Bidens paid $146,629 in federal income tax in 2023, making their federal income tax rate 23.7%. They reported $20,477 worth of contributions to 17 different charities in 2023.

Gift/Estate Tax Exemption: Starting in 2023, each U.S. citizen can take advantage of a lifetime exemption of $12.92 million to protect transfers from estate and gift tax.

Meanwhile, Vice President Kamala Harris and second gentleman Doug Emhoff reported paying $88,570 in federal income tax in 2023, amounting to an effective 19.7% federal tax rate, after earning ...

Despite that, there is a bit of relief. A dozen states cut their income tax rates for 2023, meaning you get to keep more of your money. Only a couple raised income tax rates. ...

The 2023 date to file a tax return or an extension is Tuesday, April 18 — and ahead of the deadline, the IRS says it's been paying refunds that are hundreds of dollars lower than last year.

How you can buy an EV in 2024 and get the credit at the same time. If you're buying an EV this year, you may be able to have your cake and eat it too. Starting in 2024, you can claim that credit ...

It’s now effective for the 2023 tax year. People selling items — like a used couch or bike — through online marketplaces aren’t supposed to be affected by the new rules.

If you want a home equity loan tax deduction for your next tax return, it needs to be taken out by December 31. Getty Images Borrowing against your home equity can be a sound way to add extra cash ...

Refunds for the tax year 2022 currently stand at $87.2 billion -- or 11.8% more money than this time last year. On Feb. 10, the IRS had sent out 27.6% more in refunds than it did the same week ...