You owe capital gains tax on any realized gain on sale of an asset, though not on unrealized capital gains. Long-term capital gains — for assets held for a year or longer — are taxed at a 0, 15 or 20 ...

Explore how nonprofit organizations gain federal tax-exempt status under IRS 501(c) and discover the conditions they must ...

The IRS is adjusting the income limits for its federal income tax brackets to account for the impact of inflation, an annual reset that could provide relief for some Americans when they file their ...

A progressive tax structure allows low-income earners to pay a smaller proportion of their income as tax compared to high-income individuals, who are taxed at progressively higher rates. A progressive ...

A check mark. It indicates that the relevant content has been reviewed and verified by an expert This story has been reviewed by a professional to ensure you get the most accurate and useful ...

The Earned Income Tax Credit (EITC) is the largest poverty alleviation program for families with children in the US, and it has well-documented health effects. However, not all eligible families ...

If you ask owners of businesses big or small about their most costly and complicated expense, you’re likely to get one answer: taxes. Naturally, most will hire a certified public accountant (CPA) for ...

Forbes contributors publish independent expert analyses and insights. Mike Patton covers the financial markets, economy, and national debt. On Dec. 22, 2017, President Donald Trump signed into law the ...

New legislation eliminated the EV tax credit program on Sept. 30, 2025, making electric vehicle ownership more expensive. Anyone who bought an eligible used electric vehicle (EV) or plug-in hybrid ...