The One Big Beautiful Bill Act has supersized the standard deduction for seniors. Starting with 2025 federal returns (filed in 2026), taxpayers 65 and older can claim up to $6,000 in addition to the ...

A bill awaiting President Donald Trump's signature aims to make IRS error notices clearer and easier to understand. The IRS Math and Taxpayer Help Act would require ...

The IRS is adjusting the income limits for its federal income tax brackets to account for the impact of inflation, an annual reset that could provide relief for some Americans when they file their ...

For the first time in nearly seven years, the federal government shut down on October 1, 2025. Government shutdowns aren’t new to Washington. Since the late 1970s, there have been 20 funding gaps.

A new rule is going into effect next year that will affect high earners who make “catch-up contributions” in their 401(k)s or other tax-deferred workplace retirement plans. The rule, which was created ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

Sales of electric vehicles in the United States are almost certain to tumble when the $7,500 federal tax credit for EV buyers expires on October 1. But where prices go is less certain. The tax credit, ...

The IRS has released drafts of some 2025 tax forms, including the new Schedule 1-A, Additional Deductions. You’ll use Schedule 1-A to calculate new deductions for tips, overtime, car interest, and ...

The infuriating reality of being a U.S. taxpayer today is that our taxes are being spent on everything from ICE’s budget, which terrorizes communities of color, to dystopian levels of surveillance ...

For millions of workers, tips aren’t just a perk — they’re essential. Data show that about 4 million people in the United States, or one out of every forty workers, depend on tips to pay the rent and ...

Compare what you paid in sales tax to your state and local taxes. Deduct the larger of the two. But there's a catch. Many, or all, of the products featured on this page are from our advertising ...