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 2026 tax filing season is underway, and major changes approved by Congress last year could mean larger refunds for many ...

The sales tax deduction lets you deduct the state and local sales taxes you've paid during the year, but only if you itemize your deductions. Learn more.

Most people claim the standard deduction on their federal tax return instead of itemizing deductions. How much can you claim?

Drivers are looking at a long list of rules if they're hoping to claim a new tax deduction for car loan interest on 2025 federal income tax returns.

Millions of Americans are expected to receive larger tax refunds this year courtesy of President Donald Trump’s “Big Beautiful Bill.” The Tax Foundation, a nonpartisan think tank, estimates that the ...

CNBC’s Sharon Epperson explains the standard deduction for 2025 tax returns. For more Tax Tips, go to cnbc.com/money101 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, ...

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 ...