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 IRS is also sending clear warnings to people who used payment apps like PayPal,…
Many student loan borrowers who get their debt forgiven in 2026 can expect a hefty…
After shedding more than a quarter of its employees last year, the IRS is looking…
Holly Paz, a former top tax compliance leader at the IRS, reached an agreement with…
The IRS is reminding taxpayers that if their 2025 tax return claims either the Earned…
Americans are expecting hundreds of billions in tax refunds this year, with the average refund…
The IRS said in a statement that it will continue operations under the current lapse…
The Internal Revenue Service is asking seasoned employees without any direct tax experience to perform…
