Tax season often carries a distinct financial weight for older Americans. Fixed incomes, Social Security benefits, retirement distributions and rising healthcare costs all factor into a filing picture ...

A new tax break is available this filing season for taxpayers who have car loans on vehicles that meet certain specifications. The One Big Beautiful Bill Act (OBBBA), which was passed through Congress ...

This tax season, taxpayers who bought a new car in 2025 may be eligible for a new deduction on their auto loan. The One Big Beautiful Bill Act—also known as the Working Families Tax Cut—that was ...

Lower-income taxpayers will be able to deduct contributions for the first time, but there are new limits on higher-income taxpayers’ deductions. One big change in this year’s federal budget ...

A new tax deduction allows buyers to claim up to $10,000 a year on interest paid for new, American-made cars. The deduction applies to qualifying vehicles purchased between Jan. 1, 2025, and Dec. 31, ...

The new senior deduction allows qualified individuals to deduct an additional $6,000 and married couples to deduct up to $12,000. The deduction applies to anyone 65 or older. The White House's goal ...

Not to be confused with the additional standard deduction for seniors, the new senior tax deduction allows qualified filers to shelter even more of their income from taxes. Many, or all, of the ...

Retirees’ tax bills in 2026 will be shaped not just by new deductions but also by changes to income limits and thresholds that affect Social Security, retirement accounts and Medicare premiums. Money; ...

If you are in the process of filing 2025 state and federal income tax returns, you may be stumped by the decision to either file using standard deduction or spend the extra time and effort needed to ...

BOISE, Idaho — Idaho taxpayers who plan to take the standard deduction can now move forward with filing their state income tax returns, after a brief delay caused by updates to comply with new tax law ...

There’s some fine print involved. Money; Getty Images The One Big Beautiful Bill Act added several new tax breaks that are expected to increase last year’s average refund of nearly $3,200 by anywhere ...

Buyers of new vehicles assembled in the U.S. could boost their tax refunds by hundreds of dollars through a new tax deduction for auto loan interest. A new tax deduction for the 2025 tax filing season ...