Effective for the 2025 tax year (and set to expire after 2028), the recent “One Big Beautiful Bill Act” (“OBBBA”) enacted a new $6,000 deduction for seniors aged 65 or older. This is in addition to the existing standard deduction and the extra standard deduction available to individuals in this age group. For married couples filing jointly where both spouses are 65 or older, the deduction doubles to $12,000.
The Internal Revenue Service has returned $133,000 it wrongfully seized from a South Florida teacher….
Farmers and ranchers affected by drought across the country- 49 states, the District of Columbia…
The AICPA is seeking clarification from the IRS on guidelines suggesting that tax practitioners should…
The Internal Revenue Service released 45Z Clean Fuels Production tax credit guidance that opens the…
The Trump administration is proposing a new rule that would strip private schools and colleges…
A retiree owns a vacant parcel he bought decades ago, back when the surrounding neighborhood…
Almost a year into his tenure leading IRS enforcement, Jarod Koopman is using his shrunken…
UnitedHealth Group is contesting an Internal Revenue Service proposal to increase its taxable income over how…
