New tax brackets, higher standard deductions and expanded credits are now in effect — changes that could boost paychecks and ...

Taken together with the inflation measure the IRS uses, the agency says that—on average—the inflation-adjusted tax numbers ...

The IRS announced updated inflation adjustments for the 2026 tax year, including new federal tax brackets and higher standard ...

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Taxpayers can reduce their IRS bill by deducting qualifying expenses from their taxable income. The easiest way to do that is to take the standard deduction, a flat rate offered to nearly all ...

Inflation may be taking more out of workers’ pay, but it also has a silver lining with the taxman, as the IRS announced Tuesday that it is hiking the standard deduction by $400 and raising the maximum ...

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. Each ...

For tax year 2026, the standard deduction will be $32,200 for married couples filing jointly. For single taxpayers and married individuals filing separately, the standard deduction rises to $16,100 ...

Itemized deductions and the standard deduction are two options that taxpayers can choose when filing their tax returns. The choice affects how much taxable income is reduced, potentially influencing ...

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Ryan Polk does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their ...

Senior discounts are commonplace in restaurants, but there's one for taxes too. It's called the extra standard deduction, exclusively for people who are 65 years and older by the end of the tax year.