Many Americans are likely to see massive changes to their taxes in 2026, especially seniors. That’s largely due to President Donald Trump’s so-called big, beautiful bill, a massive 940-page bill ...

This new deduction is taken on top of your standard deduction or itemized deductions. But your deduction will be reduced if your modified adjusted gross income (MAGI) is more than $75,000 ($150,000 ...

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 ...

Changes in the tax law will have different effects on people who take the standard deduction versus high earners who itemize. By Ann Carrns Thinking about donating to your favorite charity before the ...

Homeowners now have the chance to write off much more of their state and local tax bills, and this could potentially lead to bigger tax refunds. That’s if they play their cards right on the SALT ...

The Tax Court applied a narrow definition to Sec. 1234A(1)’s “with respect to property” requirement when considering the character of a corporation’s $1.6 billion deduction of a fee it paid to ...

The IRS is adjusting the income limits for its federal income tax brackets to account for the impact of inflation, an annual reset that could provide relief for some Americans when they file their ...

The IRS has announced the annual inflation adjustments for the year 2026, including tax rate schedules, tax tables and cost-of-living adjustments. These are the official numbers for the tax year ...

The IRS on Thursday announced adjustments it is making to a host of line items on your federal tax return for this year and next. Those updates are the result of changes in inflation but also due to ...

COLUMBUS, Ohio (WCMH) — A bipartisan Ohio bill would allow residents to deduct donation to churches from their taxable income, a move proponents said would encourage charitable giving. House Bill 444, ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...