The most recent government shutdown began Oct. 1, 2025, after Congress failed to pass appropriations bills for the new fiscal ...

The standard deduction is bigger than ever, itemizing rules have changed, and new deductions complicate matters. Here’s how to choose the option that’s best for you.

Each year, the Union Budget draws the nation’s attention as it defines the country’s economic direction for the new financial ...

The charitable donation tax deduction lets you write off qualified gifts to nonprofit organizations, but there are rules to ...

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, ...

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 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 ...

Plus: Average tax refunds, filing status, a new global tax deal, commuting expenses & business mileage, a closely watched tax ...

Here's a look at some of the most commonly assumed tax breaks that either no longer exist or simply don't work the way people expect any more.