The proposal ends some taxes on tipped income and overtime pay and extends Trump’s expiring 2017 tax cuts.

Taxpayers must wait until July 2027 to claim the new standard tax deduction for work-related expenses, which more than triples the current rate of claiming deductions without a receipt.

A proposed increase to the SALT deduction cap would primarily benefit upper-middle-income households in high-tax states like ...

New tax proposals aim to ease the burden on seniors by raising deductions for those over 65, offering potential relief from ...

Thompson continued by saying he will fight to reinstate the State and Local Tax Deduction and aim to prevent cuts to 13.7 million Americans’ health care. “It’s a shame that our colleagues on ...

House Republicans are calling for a higher limit on the deduction for state and local taxes, known as SALT, as part of President Donald Trump's tax and spending package. Stream NBC 5 for free ...

The highly popular Child Tax Credit would grow, as would the standard deduction, and lawmakers would create new temporary breaks demanded by President Donald Trump for overtime pay, car-loan ...

It seeks to extend the tax breaks approved during Trump's first term — and boost the standard deduction, child tax credit and estate tax exemption — while adding new tax breaks on tipped wages ...

Speaker Mike Johnson (R-La.) said he expects to have a deal on the state and local tax (SALT) deduction cap Wednesday, after both sides of the tenuous negotiations reported progress following a ...