Income Tax
News, insights and expert analysis on income tax from the team at Kiplinger.
Latest
-
Mega Millions After Taxes: How Much Will the Winner Get?
Lottery Taxes A Mega Millions jackpot winner will take home much less than the advertised jackpot amount, thanks to taxes.
By Katelyn Washington
Lottery Taxes -
Ask the Editor: What medical expenses are deductible?
Ask the Editor In this week's Ask the Editor Q&A, Joy Taylor answers questions on the tax deduction for medical expenses, from Medicare premiums to teeth whitening.
By Joy Taylor
Ask the Editor -
How the IRS Taxes Retirement Income
Retirement Taxes It's important to know how common sources of retirement income are taxed.
By Kelley R. Taylor
Retirement Taxes -
How to Calculate Your Adjusted Gross Income — and What It Means
Income Tax Your eligibility for certain money-saving tax breaks depends on your adjusted gross income.
By Ella Vincent
Income Tax -
The Many Definitions of Modified Adjusted Gross Income (MAGI)
Income Tax The definition of modified adjusted gross income differs depending on what the calculation is used for.
By Joy Taylor
Income Tax -
IRS Updates 2026 Tax Deduction for People Age 65 and Older
Tax Changes Adjustments to the extra standard deduction can impact the tax bills of millions of older adults. Here are some new amounts to know for 2026.
By Kelley R. Taylor
Tax Changes -
When Are Estimated Tax Payments Due for 2025?
Tax Deadlines You make quarterly estimated tax payments to the IRS if you are self-employed or don’t have taxes withheld from your income for other reasons.
By Kelley R. Taylor
Tax Deadlines -
New 2026 Income Tax Brackets Are Set: Will Your Rate Change?
Income Tax The IRS has adjusted federal income tax bracket ranges for the 2026 tax year to account for inflation. Here's what you need to know.
By Kelley R. Taylor
Income Tax -
What's the Standard Deduction for 2025? Key Changes and Updated Amounts
Tax Breaks Most people claim the standard deduction on their federal tax return instead of itemizing deductions. How much can you claim?
By Kelley R. Taylor
Tax Breaks
