The Latest Breaking News from Tax Deduction

The tax code should be amended so those who legally own a firearm can turn it in and receive a tax deduction on their federal income tax return.

The cabinet has extended the double tax deduction period for another two years for contributions made to 13 public health foundations via E-donation.

WASHINGTON — Massive losses and large tax deductions in Donald Trump’s returns reveal how the former president was able to use the tax code to minimize his income tax payments.

Some long-standing tax deduction and tax benefit measures should be reviewed, says Revenue Department director-general Lavaron Sangsnit.

Senate Majority Leader Charles E. Schumer pledged to move ahead with a procedural vote Tuesday afternoon on the semiconductor bill.

A California bill related to the state’s 2022-2023 budget includes a proposed tax credit for union dues. Once implemented, the tax credit would be the first of its kind in the U.S. Union dues are currently tax-deductible in California and some other states. (A tax deduction lowers a person’s taxable…

The clock is ticking towards the end of the financial year, which means it's time to start preparing your tax return. Here are some COVID-era deductions.

With the end of the financial year fast approaching it's time to turn your mind to maximising work-related tax deductions.

The Colorado Legislature put two statutory measures on the Nov. 8 ballot before adjourning on May 11.

The cabinet on Tuesday approved extending tax measures for individuals and companies that donate to the government; import medicines, medical supplies and medical equipment for public charity; and buy antigen test kits (ATK) for their employees.

Can you claim the home office tax deduction this year?