Definition of Income Tax Deductions?

Answer All U.S. taxpayers are responsible for paying their fair amount of tax on or before the April 15 deadline. The amount of tax for which a taxpayer is responsible depends on his income, credits and d... Read More »

Top Q&A For: Definition of Income Tax Deductions

About IRS Income Tax Deductions?

The Internal Revenue Service reports overlooked deductions as one of the most common and costly of tax return blunders. Get every dollar you deserve from this year's tax return with common IRS dedu... Read More »

List of Deductions Allowed for Income Tax?

In the United States, both the federal and state governments levy taxes on your income. Income tax is divided into income brackets that determine how much you have to pay in income taxes. The Inter... Read More »

Does an individual have to itemize his or her income tax deductions?

On One Hand: Some Taxpayers Must Itemize DeductionsThe Internal Revenue Service (IRS) only requires persons to itemize deductions if they are married and filing separately from a spouse who is item... Read More »

Do you have to have receipts for filing income tax deductions?

When you claim any deductions on federal or state tax returns, you must have receipts or canceled checks to back up each and every deduction that you take when filing your taxes.References:Turbo Ta... Read More »