You can only claim the new senior tax deduction if you were 65 or older at the end of 2025. You must also provide your Social ...

The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.

Self-employed individuals have their own unique opportunities at tax time. Here are some of the most generous tax deductions available to the self-employed.

The IRS has released a set of FAQs to answer questions about eligibility, reporting, and limits for the new, temporary ...

Here's what to know about a tax credit vs. deduction, including how each works and how they can reduce your tax bill and improve your tax refund amount.

Donating to charity is a great way to show your giving spirit and can help save money at the same time if you follow key ...

Social Security benefits remain taxable on federal income tax returns. But many older adults can save money with new enhanced ...

Exemptions, deductions and rebates may sound similar, but they work at different stages of tax calculation and directly ...

Tax avoidance strategies aren’t solely for the rich — plenty of tax deductions and credits are available for middle- and low-income taxpayers to seize too.

Wondering how much tax relief you can claim? Learn how IRS credits, deductions, payment plans and settlements affect the ...

The 2018 Tax Act created a new deduction for qualified business income earned by an individual. The basic deduction is 20% of ...