If you’re not sure which ones you may qualify for, here are some common deductions and credits new tax return filers can take.

Several tax breaks, including the Child Tax Credit, may face reforms or be cut entirely as lawmakers seek revenue for Trump’s ...

Although Texas imposes no state or income ... released updated tax brackets for singles and married couples filing jointly. Here is what those numbers look like: 37% − Single income over $ ...

Millions of taxpayers are preparing for the 2025 tax season — that is to say, tax year 2024. Although Texas imposes no state or income ... standard deduction for single and married filers.

The new tax regime will provide substantial relief, making it more attractive for taxpayers. No tax ... with exemptions and deductions (e.g., HRA, LTA, etc.), but the tax rates are comparatively ...

The new income tax ... rates. This approach aligns with the government's vision of creating a simplified tax regime." Concurring with the view, Bhuta says, "There may be an emphasis on "no ...

Union Budget 2025: In the Union Budget 2025, Finance Minister Nirmala Sitharaman revealed an increase in the basic tax exemption limit in the new tax regime. The limit has been raised from Rs 3 ...

Should this memo suggestion become law, people currently filing taxes under the Head of Household status — often single parents — would likely face higher tax rates than before. Claims also ...

The zero tax ceiling has been raised from Rs 3 lakh to Rs 4 lakh. The 5 per cent tax bracket is now ... with the complications of exemptions.The Budget document has no mention of the old tax ...

You are comfortable with tax planning and want to maximise exemptions ... their returns with no additional steps. The ‘new regime’ provides for concessional tax rates and liberal slabs.

So, say you’re a single father ... will not get the tax return for your child.” Claims that Trump passed a new law preventing child support recipients from claiming dependents are false.