Millions of taxpayers are using a new IRS form to claim deductions for tips, overtime, car loan interest, and seniors. What is Schedule 1-A?

The new tax regime is reinforced by the Income-tax Act, 2025 (ITA 2025), which goes into effect on April 1, 2026. It offers concessional tax rates with limitations on claiming certain deductions and ...

Many of you have your W-2s and are ready to do your taxes. But before you file, there's one thing to remember: there are big changes this year. 7 On Your Side is explaining some of the deductions that ...

At a 12% marginal tax rate, for example, the $6,000 enhanced senior deduction for a single taxpayer who is 65 or older would result in $720 in tax savings. The new enhanced deduction for seniors on ...

As much as seniors love a new tax break, a risk exists that retirees and others will miss out if they think the new enhanced deduction for seniors on 2025 federal income tax returns is somehow ...

At a 12% marginal tax rate, for example, the $6,000 enhanced senior deduction for a single taxpayer who is 65 or older would result in $720 in tax savings. The new enhanced deduction for seniors on ...

You’ll find new deductions and new forms when you file taxes this year, thanks to the One Big Beautiful Bill Act.

Owning a home changes your tax picture, but not always in obvious ways. Some homeowners assume buying a home automatically leads to a larger refund. Even long-standing homeowners can overlook ...

Tax season is fast approaching and several tax policy changes impacting older Americans will be in effect when seniors go to file their returns. The enactment of Republicans' One Big Beautiful Bill ...

David D. Stewart: Welcome to the podcast. I'm David Stewart, editor in chief of Tax Notes Today International. This week: top 2025 tax cases, part two. We're back this week with the second part of our ...