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.

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

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Johner Images/Getty Images A new ...

President Donald Trump's "big beautiful" tax law provides a new senior "bonus" or deduction of up to $6,000 per individual or $12,000 for married couples. The temporary deduction applies to taxpayers ...

These changes, which take effect this year, are designed to provide tax relief across a broad range of categories, from working Americans and seniors to business investment and family support. Notices ...

Living on a fixed income can be challenging, especially when taxes are involved. That's why, for retirees, knowing how to optimize their tax benefits is crucial. The good news? The IRS offers several ...

The Internal Revenue Service officially opened tax-filing season amid changes from the One Big Beautiful Bill Act and the ...

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The SALT deduction, which was temporary under the OBBBA Act, raised it from $10,000 to $40,000 if your income is under $500,000. The new senior deduction is a $6,000 deduction you get just for being ...

January kicks off tax-filing season as the IRS 2026 tax season opens. Here's what to know about the new federal income tax brackets and when the IRS will start accepting your 2025 tax returns. The IRS ...

After Yasuko Tamaki's story went viral, reactions on social media have been split between admiration for her stamina and ...