Federal income taxes on individuals can be reduced by certain tax deductions, notably for mortgage interest. Tax credits such as the Earned Income Tax Credit provide benefits to specific groups of ...

1040EZ was about one-fifth as long as the full 1040 form, with fewer deductions and tax credits. Eligibility for Form 1040EZ To use the form, a taxpayer had to have taxable income of less than $ ...

From April 1, interest income from fixed deposits (FDs), recurring deposits (RDs), etc., will only be subject to deduction if the amount, at the aggregate level in a bank, exceeds Rs 1 lakh in a ...

Also called the Section 199A deduction, the provision allows many owners of sole proprietorships, partnerships, S corporations and some trusts and estates to deduct up to 20% of their qualified ...