Many people will be thrilled to see larger-than-usual federal income tax refunds — some may end up $500 to $1,000 bigger than ...

The new, temporary senior deduction gives taxpayers 65 and older who fall within income limits the opportunity to deduct up to $6,000 per person in income from their federal returns or up to $12,000 ...

Gah! Taxes! No one likes them (except maybe accountants and sadists), but you and I know we have to deal with them. As a… The ...

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, ...

A new, temporary 'senior bonus' will enable many taxpayers age 65 and older to deduct up to $6,000 in income from their federal returns. You must file a new Schedule 1-A. The new enhanced deduction ...