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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The IRS 2013 EIC table, published annually in Publication 596, displays the appropriate earned income tax credit allowed for eligible tax return filers for the tax year 2013, explains the Internal Revenue Service. Each y... More » Business & Finance Taxes Income Tax

Individual can find forms, instructions and publications that deal with individual income taxes, excise tax returns, earned income credits, charitable contributions and supplemental income or loss on the Internal Revenue... More » Business & Finance Taxes

According to the Internal Revenue Service, anyone who has enough taxable income is required to file an income tax return, even senior citizens. Older taxpayers, however, do have a slightly higher threshold for filing. 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