The bill extends portions of the Tax Cuts and Jobs Act, provides deductions to eliminate income taxes on certain tips and ...

GOP lawmakers said the provisions provided needed economic relief for some industries, while they took fire from deficit hawks.

Initially, the legislation included a requirement that at least one parent of a child using the accounts have a Social ...

The savings are projected to cost Florida about $167.7 million and is the second largest tax cut in the budget behind the repeal of the state’s business rent tax, which amounts to $904.8 million ...

Many NRIs are unaware of the benefits of the Income Tax Act's sections 115C and 115I, which provide concessional tax treatment on certain incomes.

The newly appointed opposition finance spokesman is accusing Jim Chalmers of writing “special rules” that will exempt Anthony Albanese from Labor’s super tax until after the Prime Minister ...

The House GOP’s “big, beautiful” tax bill includes a new savings account for children that comes with a $1,000 deposit from the federal government.

Texas homeowners may see property tax savings with a homestead exemption boost to $140,000. Find out how this impacts Tarrant County districts and taxpayers.

House Republicans on Monday released a draft of the huge tax bill that Trump wants Congress to pass. Included in the draft is a pilot program for "MAGA accounts," essentially savings accounts for ...

What to Know The MAGA account proposed in the bill is a tax-advantaged savings option and can be opened for children under the age of 8, who then won't gain access until they turn 18.

The proposal unveiled May 12 would make the 2017 Tax Cuts and Jobs Act permanent, increase the standard deduction, and increase the child tax credit to $2,500 through 2028 and $2,000 after that.

Interest earned in statutory provident funds, recognized provident funds up to 9.5%, Sukanya Samriddhi accounts, and Post Office savings accounts is exempt under the new tax regime.