Taxpayers cannot deduct gifts they make on their income tax returns except for charitable contributions, according to the Internal Revenue Service. Making gifts does not usually affect federal tax returns. The annual exc... More » Business & Finance Taxes Income Tax

Retroactive allocations of generation-skipping tax exemptions, or GSTs, need to be made on a gift tax return filed on or before April 15 of the year following the death of the individual being skipped, according to the I... More » Business & Finance Taxes

Tax is calculated by using the tax tables provided by the Internal Revenue Service. Different tax tables apply to different forms of tax. For example, the tax tables for income tax differ from the tax tables for estate a... More » Business & Finance Taxes
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You can learn to calculate income tax by attending a tax-preparation course offered by a business that specializes in preparing tax returns, such as H&R Block, explains the company's website. Automated online tax calcula... More » Business & Finance Taxes Income Tax

Pre-tax retirement contributions, flexible spending account contributions, charitable donations, tax credits and tax deductions reduce the amount of income tax owed. Certain expenses, including qualifying medical expense... More » Business & Finance Taxes Income Tax

The Internal Revenue Service offers help filing an income tax return for certain taxpayers through its Volunteer Income Tax Assistance program and its Tax Counseling for the Elderly program, as of 2015. The IRS also offe... More » Business & Finance Taxes Income Tax

You can track the status of your income tax return at the official website of the Internal Revenue Service using the Where's My Refund tracking tool. Status updates are usually available 24 hours after electronic filing ... More » Business & Finance Taxes Income Tax