Here's what to know about income tax ahead of tax season, including what it is, how it works, how to calculate it and which states don't have it.

Earlier this month, Republicans approved a budget resolution that includes trillions of dollars in cuts to both taxes and government spending. Treasury Secretary Scott Bessent said on Tuesday that the ...

In a perfect world, the income you receive would be all yours to keep. However, the tax man is on his way and any dollar you earn is subject to a tax bill. But what is taxable income? Is it everything ...

Capital gains count as taxable income and can affect your tax bracket, deductions and rates. They are taxed as short-term or long-term gains depending on how long you owned the asset and your total ...

In addition to regular income tax, the alternative minimum tax (AMT) is an additional tax that certain taxpayers must pay. In theory, the purpose of AMT is to prevent high income taxpayers from taking ...