OBBBA has introduced a ‘Seniors Deduction’ for retirees over 65, of up to $6,000 for individuals ($12,000 for couples), in 2026 tax filings.

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

Taxpayers should prepare for major tax-policy shifts this year. Forbes’ expert contributors explain how — and when — key rule ...

Most people claim the standard deduction on their federal tax return instead of itemizing deductions. How much can you claim?

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 ...

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 ...