The IRS has announced the annual inflation adjustments for the year 2025, including tax rate schedules, tax tables and ...

The standard deduction is bigger than ever, itemizing rules have changed, and new deductions complicate matters. Here’s how ...

OBBBA has introduced a ‘Seniors Deduction’ for retirees over 65, of up to $6,000 for individuals ($12,000 for couples), in 2026 tax filings.

The budget bill passed in July adds a new deduction for seniors that could eliminate taxes on social security for some.

It’s a decision that every taxpayer is faced with when choosing how to claim deductions on their federal tax return: Do you take the standard or do you itemize? Making the right choice could mean more ...

Social Security benefits remain taxable on federal income tax returns. But many older adults can save money with new enhanced deduction for seniors.

A new deduction will lower the tax bill for many older Americans this year. Taxpayers, however, need to ensure they qualify ...

States differ on whether to conform to HR-1, leaving taxpayers with a patchwork of rules depending on where they live.

The IRS allows you to claim deductions that reduce the amount of tax you owe. Those deductions either are itemized deductions ...

State revenue officials updated the guidance, saying most people should be OK using the current forms only if they take the ...