Income Tax Deduction Links

Income tax-cutting proposal faces stiff test in Oklahoma House

Enough unhappy House Republicans could join with House Democrats to kill the proposal worked out last week by Republican legislative leaders and the Oklahoma governor.

Income Tax Exemptions for NRIs

Bangalore: Your NRI status can help you to get a tax exemption on your income earned outside India . This tax deduction also includes a standard deduction of 30 Percent of net annual value and interest on any of your borrowed capital.

IRS Warns Taxpayers Not To Be 'Too Concise' on Returns

It's not every day that the IRS complains the submissions it receives are too concise. But that's the missive sent by the IRS to tax lawyers and accountants who've been filing the Schedule of Uncertain Tax Positions??(UTP) as part of their tax returns. Schedule UTP requires certain corporations to report each U.S. federal income tax ...

Income-tax cut proposal set

Gov. Mary Fallin and Republican legislative leaders reached an agreement late Thursday to cut the state's top income tax rate to 4.8 percent from 5.25 percent.

Tax returns show Scott Brown, Elizabeth Warren among nation’s top income group

The Massachusetts US Senate race, already framed in terms of electing the best guardian for the middle class, will be fought by two candidates in the nation’s top income group. Tax returns show Scott Brown’s income more than doubled to nearly $840,000 after he was elected in 2010, while Elizabeth Warren had nearly $1 million in earnings two of the past four years. Last year, she was in the top 1 ...