The FICA tax (short for Federal Insurance Contributions Act) is a deduction from your paycheck that's used to pay for Social Security and Medicare. The 2024 FICA tax rate means 7.65% comes out of your paycheck, which includes a Social Security tax of 6.2% ...

The state and local tax deduction is up for consideration again on Capitol Hill. What does it mean for you and your property taxes?

State and local taxes you pay are deductible if you itemize on your federal income tax return. But the Tax Cuts and Jobs Act of 2017 capped the state and local tax (SALT) deduction at

Many taxpayers could see even more money in their pockets in coming years under a sweeping tax and spending cuts package that House Republicans hope to finalize before Memorial Day.

Natalie toggles between news stories and enterprise reporting to bring timely personal finance topics to readers. Her mission is to help inform people of all financial backgrounds about events ...

IRS Form 941, also known as the Employer’s Quarterly Federal Tax Return ... of 5% of the total tax amount due, and you can be charged an additional 5% fee every month your return has not ...