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

Filing taxes can be daunting, but understanding your options for reducing your taxable income can help make it easier and save you money. U.S. taxpayers have two main options for reducing their ...

The standard deduction for seniors over 65 is a tax benefit that can significantly reduce their taxable income. TRAVERSE CITY, MI, UNITED STATES, October 7, 2024 ...

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 ...

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 ...

New IRS tax brackets for 2026 could slightly increase paychecks for millions of American workers. Lower brackets widened by ...

Tax season in 2026 will look very different for older Americans filing 2025 returns, as a new wave of deductions reshapes how income, Social Security and retirement savings are treated. For people 65 ...

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 ...

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 ...