For tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their income tax return.

A new tax law provides a $6,000 deduction for taxpayers 65 and older, potentially eliminating federal taxes on Social Security benefits for millions. Learn if you qualify.

Taxpayers will need to calculate for themselves how much they can subtract from their 2025 taxable income using the new ...

The One Big Beautiful Bill Act, which was signed into law in July, created several new tax provisions and made changes to others that are in effect for this year. So it’s worth having the rundown of ...

(The Center Square) – Millions of Americans who work overtime shifts or receive tips will be eligible to claim new deductions on their 2025 tax returns, the Trump administration announced Friday.

President Trump promised that he would eliminate taxes on Social Security benefits. While the President was not quite able to ...

The massive new tax law temporarily boosts the maximum amount you can claim under the state and local taxes (SALT) deduction to $40,000, from $10,000, starting in 2025. (For those who are married ...

Form 4684 allows individuals, businesses and estates to claim deductions against any unexpected losses due to theft or disasters. These deductions can help reduce taxable income, but they come with ...

These seven common deductions draw IRS scrutiny — not because they're suspicious, but because most people document them wrong ...