Search results
Results from the WOW.Com Content Network
Learn about the personal exemption under U.S. tax law, which is a deduction that reduces taxable income and federal income tax. Find out the amount, phase-out, requirements, and exceptions for personal exemptions.
TDS stands for tax deduction at source, a means of collecting tax on income, dividends, or asset sales in India. Learn about the objectives, rates, provisions, and certificates of TDS under different sections of the Income Tax Act 1961.
Learn about the standard deduction, a tax benefit for non-itemizers in the US, based on filing status and age. Find out the amounts, conditions, and examples of the standard deduction for different years.
As you fill out your federal income tax return, even before you report your income, the IRS asks you to list your personal exemptions. It's important not to skip this step -- exemptions reduce ...
Learn about the federal and state income tax systems in the U.S., including sources of law, basic concepts, rates, deductions, and credits. Find out how income is defined, taxed, and reported for individuals, corporations, and other entities.
Learn about the different types and levels of taxes imposed by the federal, state, and local governments in the U.S. Find out how taxes affect income, spending, and inequality in the country.
George S. Boutwell was the first Commissioner of Internal Revenue under President Abraham Lincoln.. In July 1862, during the American Civil War, President Abraham Lincoln and Congress passed the Revenue Act of 1862, creating the office of Commissioner of Internal Revenue and enacting a temporary income tax to pay war expenses.
Form 1040 is the main tax form filed by U.S. residents for personal federal income tax returns. It calculates the taxable income and determines the refund or payment due. Learn about the filing requirements, modalities, and history of Form 1040.