The countdown is on: Taxpayers have a little over two weeks to file their 2025 tax returns and pay any taxes due by Wednesday, April 15, 2026. The Internal Revenue Service (IRS) expects to receive ...

A new tax break is available this filing season for taxpayers who have car loans on vehicles that meet certain specifications. The One Big Beautiful Bill Act (OBBBA), which was passed through Congress ...

The new $6,000 senior tax deduction will give the average qualifying senior an extra $670 in after-tax income, according to a June 2025 report from the Council of Economic Advisors. Married couples ...

At a 12% marginal tax rate, for example, the $6,000 enhanced senior deduction for a single taxpayer who is 65 or older would result in $720 in tax savings. The new enhanced deduction for seniors on ...

The Internal Revenue Service has published a new Schedule 1-A and updated instructions for claiming the new tax breaks in the One Big Beautiful Bill Act for tips, overtime, car loans, and senior ...

Although recent legislation introduced many tax deductions, there aren't as many changes to keep track of for the 2026 tax year. That said, it's still important to learn about changes and enhancements ...

The IRS published Schedule 1-A (Form 1040), Additional Deductions, along with updated instructions for Form 1040, U.S. Individual Income Tax Return, that explain how taxpayers can claim the new ...

Not to be confused with the additional standard deduction for seniors, the new senior tax deduction allows qualified filers to shelter even more of their income from taxes. Many, or all, of the ...

It’s everyone’s favorite time of the year: tax season. But some changes have made this season a little more interesting. President Donald Trump’s signature legislation, the One, Big, Beautiful Bill ...

The One Big Beautiful Bill Act made significant changes in the tax benefits of charitable giving. The changes take effect in 2026 and should be considered in both long-term and short-term charitable ...

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Many of you have your W-2s and are ready to do your taxes. But before you file, there's one thing to remember: there are big changes this year. 7 On Your Side is explaining some of the deductions that ...