Trump's adjusted gross income for 2020 was largely the result of $15.7 million in reported business losses from sources like real estate, partnerships, and S corporations, according to the tax returns. The House Ways and Means Committee released six years of Trump's returns - 2015 to 2020 - after a lengthy fight to make them public.

The tax-filing season for businesses will begin on January 12, but the IRS has not yet announced the opening date for individual filers. Last year, the tax-filing season began on January 24.

Washington lawmakers are working quickly to get as much done as possible before the end of the year and the lame-duck session of Congress.‍

This holiday season, you may be able to lower your taxes while supporting your favorite charity, experts say. By donating to a qualified charity, you can deduct the amount of your donation from your taxable income. This can help you lower your overall tax bill and support a cause that is important to you.

Legislators on Capitol Hill are taking steps to broaden the scope of workplace retirement plans.