Budget 2025 increased the tax rebate limit under the new regime to ₹12 lakh from FY26. If trends from previous years continue ...

Nonrefundable tax credits can only be used against taxes that you owe -- once your tax bill hits $0, you don't get the ...

Patrick Mulhearn, a major player in Louisiana’s film industry, has launched a new business aimed at helping both filmmakers ...

The Child Tax Credit (CTC) is a SUPER credit because it can create a $2,000 per child reduction in your tax liability for ...

A nonrefundable credit can reduce your tax liability to zero but not below that. Refundable credits can reduce your liability ...

Here are some tax terms you should know. Your tax liability is the amount of tax you owe to the IRS or your state government.

The earned income tax credit and additional child tax credit are “refundable,” meaning filers can claim a refund without tax ...

Don’t wait for the tax season to be in full swing—start working on your U.S. expat tax return now and get a head start.

As a result, inherited pensions could be subject to “double taxation”. This would create an effective tax rate of 52% for ...

Sitharaman said the idea behind the move to cut taxes was to put more money in the hands of middle-class taxpayers ...

Union finance minister Nirmala Sitharaman announced that no income tax will be payable on income up to ₹12 lakh.

Budget 2025 prioritised three key areas: reviving consumption amid a notable slowdown, keeping inflation in check through a ...