Changes in the tax law will have different effects on people who take the standard deduction versus high earners who itemize.

The recent tax bill provides an additional deduction for seniors under certain income limits. This may effectively reduce or eliminate federal taxes paid by people age 65 or over.

This bonus will come in addition to the existing extra standard deduction for seniors, which the IRS has increased as part of ...

Turning 65 comes with a tax perk! Learn about the extra standard deduction for seniors, the 2025 amounts, and how it can ...

Many of the most impactful tax provisions in the "One Big Beautiful Bill" (OBBB), which President Trump signed into law on ...

The IRS issued guidance for workers eligible to claim the temporary deductions for tip and overtime compensation for tax year 2025 and is updating some income tax forms and instructions to help ...

Each spring, millions of taxpayers face a deceptively simple question — take the standard deduction or itemize? For those not versed in the lingo of taxes, the distinction can be confusing. But ...

"Taking action before the end of this year can be a huge benefit to your financial health in 2026," said Dan Snyder, director of personal financial planning at the American Institute of CPAs, pointing ...

(NEXSTAR) – After several key changes in 2025, experts are advising taxpayers to start preparing for the coming year now to avoid any costly mistakes. “Taking action before the end of this year can be ...

Beginning in 2026, tax filers who claim the standard deduction may be allowed to take a new above-the-line deduction for cash contributions to qualifying charities. You will not need to itemize ...

Beginning in 2026, tax filers who claim the standard deduction may be allowed to take a new above-the-line deduction for cash contributions to qualifying charities. You will not need to itemize ...