Korrena Bailie has over a decade of experience reporting and editing personal finance stories and reviews. Her work has been featured in Wirecutter, The New York Times, Bankrate and Credit Karma.

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Zach Gibson/Getty Images The IRS ...

Kelly Phillips Erb is a Forbes senior writer who covers tax. Author’s note: The standard deduction amounts, state and local tax (SALT) caps, and maximum amount of the child tax credit have been ...

Diccon Hyatt is an experienced financial and economics reporter. He's written hundreds of articles breaking down complex financial topics in plain language, emphasizing the impact that economic ...

See more of our trusted coverage when you search. Prefer Newsweek on Google to see more of our trusted coverage when you search. Taxpayers are starting to see the effects of the new federal income tax ...

The end of the year approaches, savvy taxpayers know it's the perfect time for strategic planning. A crucial part of that planning involves understanding not just the tax rules for the return you're ...

On Tuesday, the Internal Revenue Service announced its annual inflation adjustments for 2025, including updates to the federal income tax brackets and standard deduction. The standard deduction — ...

See more of our trusted coverage when you search. Prefer Newsweek on Google to see more of our trusted coverage when you search. Tax brackets are changing in 2025—so Newsweek has rounded up everything ...

Tax season is back, and while some taxpayers may be looking forward to their refunds, others may be dreading the process of gathering their tax documents and meeting the deadlines set by the Internal ...

The new law treats gains from depreciable assets as short-term capital gains for all purposes, not merely for computation. This effectively removes exemption benefits previously allowed through ...