If you don’t know what Net Investment Income Tax (NIIT) is, you’re not alone. This relatively new tax began a little over a ...

Corporations report their total cash payments of income tax — federal, state, and foreign combined — but they don't identify, nor does the IRS reveal, how much federal income tax they pay. We believe, ...

The IRS doesn’t care how old you are. If you have an income, it requires you to pay taxes, even if your first pimple hasn't appeared or you haven't learned to drive. So, while it’s exciting for kids ...

When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Income tax is charged on most types of income but tax allowances protect some from the taxman. If ...

States collect income tax to pay for services such as education, medical care and public infrastructure. A large part of each state’s revenue comes from personal income tax as well as sales tax and ...

Understanding after-tax income helps plan budgets and retirement savings effectively. After-tax income is calculated by subtracting federal and possibly state taxes from gross income. Choosing between ...