Social Security benefits remain taxable on federal income tax returns. But many older adults can save money with new enhanced ...

The standard deduction has been super-sized for seniors. Thanks to provisions in the One Big Beautiful Bill Act, taxpayers 65 and older can claim an additional $6,000 without itemizing their ...

The IRS released the 2026 standard deduction amounts you’ll use for your 2026 tax return — and they're higher than ever. The IRS adjusts these amounts for each filing status every year. And since ...

The standard deduction is rising in 2026 by $350, or $700 for couples. The tax brackets are changing slightly as well. Assuming the same income, your tax bill could go down slightly for 2026. The ...

Kristina Byas is contributor at Investopedia. As a personal finance expert, she has lent her insights and knowledge to numerous financial publications. Her articles have helped readers navigate the ...

American taxpayers aged 65 and older will receive a new $6,000 bonus tax deduction next year as part of President Donald Trump’s One Big Beautiful Bill Act. The temporary deduction comes alongside ...

The 2026 basic standard deduction amounts represent an increase of 2.22%. That continues a string of smaller increases, ...