In this week's Ask the Editor Q&A, Joy Taylor answers questions on itemized deductions claimed on Schedule A of Form 1040 ...

Form 1040 is the essential U.S. tax form for reporting individual income to the IRS. Discover its types, uses, and filing ...

Discover when dental insurance premiums are tax-deductible and understand exclusions. Learn about coverage types and how cosmetic procedures impact deductions.

Question: Is it worth going through the effort of adding up all my out-of-pocket medical expenses, charitable contributions and other items or should I just take the standard deduction for 2023?

Congress enacted the alternative minimum tax (AMT) provisions found in IRC sections 55 to 59 to establish a floor so individuals would pay some tax regardless of the exclusions, deductions and credits ...

As you prepare to file your next tax return, should you do the same? Standard deduction vs. itemized deductions Claiming the standard deduction is certainly easier. To itemize, you need to keep track ...

The nationwide tax filing deadline is just one day away on Tuesday, April 15. If you've left your filing to the last minute and need a refresher, Newsweek has broken down everything you need to know ...

Question: Is it worth going through the effort of adding up all my out-of-pocket medical expenses, charitable contributions and other items or should I just take the standard deduction for 2024?

Claiming the standard deduction is easier, because you don’t have to keep track of expenses. The 2023 standard deduction is $13,850 for single taxpayers ($20,800 if you’re filing as head of household) ...