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

As it does each year, the IRS has announced inflation adjustments to several important credit and deduction amounts for 2025. This includes (but isn’t limited to) new 2025 income tax brackets and ...

Benjamin Franklin famously quipped that there’s nothing certain in life other than death and taxes. Any changes to the latter pique the interest of most Americans. As it does annually, the IRS ...

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. Each ...

Itemized deductions and the standard deduction are two options that taxpayers can choose when filing their tax returns. The choice affects how much taxable income is reduced, potentially influencing ...

WASHINGTON ? The Internal Revenue Service wants seniors to know about the availability of a new tax form, Form 1040-SR, featuring larger print and a standard deduction chart with a goal of making it ...