"Generally, a standard deduction is the best choice for taxpayers whose total itemized deductions do not add up to more than ...

“There are two valuable credits that the IRS reports one out of five people miss every year. The Earned Income Tax Credit is up to $7,830 for a family with three kids and the Retirement Savers Credit ...

You will soon have to confront a higher tax bill if Congress doesn’t extend many credits, deductions, and lower tax rates ...

The Form 1040 is an official document used by U.S. taxpayers to file their annual income tax returns. It includes sections ...

If one spouse itemizes and the other does not, the non-itemizing spouse’s standard deduction amount will be zero, even if each spouse is age 65 or older or blind. Itemized deductions are claimed ...