Here's what you can deduct if you aren't itemizing, along with tax brackets, senior deductions including the phaseout ramp, ...

Each spring, millions of taxpayers face a deceptively simple question — take the standard deduction or itemize? For those not versed in the lingo of taxes, the distinction can be confusing. But ...

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 has updated standard deduction amounts for 2026 to reflect inflation and recent law changes, helping taxpayers avoid ...

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 ...

Starting in the 2026 tax year, new rules will allow Americans who take the standard deduction — about 90% of all taxpayers — to also claim a charitable-giving deduction. Money; Getty Images In a major ...

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 ...

A new $6,000 deduction for senior citizens and less taxes on tips and overtime are some of the biggest changes for your 2025 tax return.