Tax deductions can lower the amount of income that is subject to tax. Here's more on how tax deductions work, plus 25 tax breaks that might come in handy.

Using a tax prep checklist can help reduce your tax-time stress. Here's a roundup of the documents and information you'll need to file your tax return this year.

Many of the most impactful tax provisions in the "One Big Beautiful Bill" (OBBB), which President Trump signed into law on ...

Tax cuts are the centerpiece of a massive legislative package championed by President Trump and passed Tuesday by Senate Republicans. Stream NBC 5 for free, 24/7, wherever you are. Many new tax breaks ...

Just when you thought you knew your federal income taxes, here comes a curveball: Key tax breaks are disappearing in 2026. During his first presidency, Donald Trump signed the Tax Cuts and Jobs Act ...

The Trump administration released its preliminary list of occupations not required to pay income tax on their tips under Republicans’ new tax cuts and spending bill. Occupations that qualified were ...

Clowns entertain crowds at local fairs by twisting skinny balloons into poodles and swords. And now, the dollar bills thrown into that top hat on the ground could fall into the new "no tax on tips" ...

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) are rolling out guidance on the new “No Tax on Tips” provision under the One Big Beautiful Bill Act (OBBB Act), ushering in a ...