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

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 enhanced deduction for seniors applies on 2025 tax returns to adults born before Jan. 2, 1961.

The promise of financial relief for seniors has arrived, packaged in the form of a new tax deduction. Roughly 34 million ...

New tax rules for seniors bring bigger deductions, potential refunds & planning opportunities, with impacts on retirement ...

The IRS has released a set of FAQs to answer questions about eligibility, reporting, and limits for the new, temporary ...

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 ...

It will mostly be business as usual for homeowners this tax season. However, new changes introduced under the "big, beautiful bill" may affect how they file.

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

The IRS said it expects 164 million individual tax returns to be filed.

Farm Business Farm Management experts recommend keeping track of mileage and allocating personal vs. business utility usage, ...