Key Takeaways Between 2025 and 2028, Americans aged 65 and older will receive an additional $6,000 deduction if they itemize ...

The $6,000 federal senior tax deduction is rejected in D.C. & Maine. States are decoupling for budget stability. Seniors must ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

President Donald Trump pledged that there would be “no tax on tips, no tax on overtime and no tax on Social Security for our great seniors” on his 2024 campaign trail. He signed into law the One Big ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The Internal Revenue Service has posted a draft version of Schedule 1-A, "Additional Deductions," for Form 1040 that will be used next tax season when claiming new tax breaks in the One Big Beautiful ...

An overview of the deductions, credits, income thresholds, retirement limits and other caps, exemptions and phaseouts that determine your tax bill.

Washington, D.C., has temporarily suspended several new federal tax breaks, such as no tax on tips, no tax on overtime, and ...

BOISE, Idaho — Editor's note: The following has been updated to reflect information on deductions, not tax returns. Idaho residents 65 and older could see an average of $6,000 more in their tax ...

WE ARE STILL MONTHS AWAY FROM TAX SEASON, BUT IT’S NEVER TOO EARLY TO BE PREPARED FOR THE CHANGES THAT ARE ON THE WAY. AND THAT INCLUDES CHANGES TO CHILD TAX CREDITS AND SOME UPDATES FOR SENIORS. SO ...