How much tax you owe depends on your income. However, the federal government, through the Internal Revenue Service, allows you to claim deductions that reduce your taxable income and the amount of tax ...

Itemizing is a way to pick and choose your tax deductions. Here's how it works and how to tell if it's for you. Many, or all, of the products featured on this page are from our advertising partners ...

The choice between itemizing your deductions and taking the standard deduction — a decision that can have serious repercussions for a taxpayer's bill to the government — varies across income groups.

Every tax season, Americans must make a decision that can directly affect how much of their income remains untouched by the IRS. For many, the choice appears straightforward, but understanding the ...

NEW YORK — When tackling your taxes, it can sometimes be hard to figure out whether to itemize or opt for a standard deduction. According to tax pros, itemizing generally makes sense only if your ...

This report examines the effect of itemized charitable giving, as tracked by the IRS, following the enactment of the Tax Cuts and Jobs Act of 2017. It finds that such giving, measured as a percentage ...