The enhanced deduction for seniors applies on 2025 tax returns to adults born before Jan. 2, 1961.

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.

Every year, filing your taxes can be a daunting — and pricey — task. The federal government requires you to pay taxes, but there are ways to minimize how much you owe. One of those ways is by taking ...

What is the standard deduction? Most taxpayers claim the standard deduction, a fixed amount you can deduct to reduce your taxable income and lower your federal tax bill. Unlike itemized deductions, ...

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

Exemptions, deductions and rebates may sound similar, but they work at different stages of tax calculation and directly ...

Wondering what tax relief you qualify for? Learn about IRS tax relief programs, credits, deductions and payment options based ...

The 2026 tax season can be summed up in two words: Complexity and cash. Many can expect bigger refunds, but detailed rules ...