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 ...

Medical costs in retirement are rising. Here are four health care tax breaks seniors may still qualify for without itemizing, from HSA withdrawals to FHAs.

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 ...

It's a decision that every taxpayer is faced with when choosing how to claim deductions on their federal tax return: Do you take the standard or do you itemize? Making the right choice could mean more ...

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated. NEW YORK (AP) — When tackling your taxes, it ...

The senior deduction may bring some much needed relief to taxpayers grappling with inflation at the grocery store and ...

The promise of financial relief for seniors has arrived, packaged in the form of a new tax deduction. Roughly 34 million Americans aged 65 and older can now access up to $6,000 in additional ...

The IRS adjusts tax brackets and standard deductions each year for inflation. This could account for some workers seeing slightly higher paychecks at the beginning of the year. Temporary deductions ...

In this week's Ask the Editor Q&A, Joy Taylor answers questions on the new $6,000 senior deduction and how to claim it on ...