You can only claim the new senior tax deduction if you were 65 or older at the end of 2025. You must also provide your Social ...

The new $6,000 deduction goes into effect for the 2025 tax year and will continue through 2028 for those aged 65 and older.

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.

If you purchased a new car after Dec. 31, 2024, you can now deduct the interest you paid on the auto loan when you file your ...

For some retirees, the change could eliminate federal income taxes entirely, although many were already exempt from Social ...

The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.

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

The IRS is set to begin accepting and processing 2025 tax returns on Jan. 26. What to do to avoid delays and mistakes as new ...

Donating to charity is a great way to show your giving spirit and can help save money at the same time if you follow key ...

The 2018 Tax Act created a new deduction for qualified business income earned by an individual. The basic deduction is 20% of ...