Turning 65 doesn't just mark a milestone in life, it can also unlock valuable tax savings. The IRS grants seniors an extra standard deduction. This deduction can lower taxable income by thousands of ...

The One Big Beautiful Bill Act has supersized the standard deduction for seniors. Starting with 2025 federal returns (filed in 2026), taxpayers 65 and older can claim up to $6,000 in addition to the ...

Although the due date for your 2025 federal income tax return is a long way off (it's not until April 15, 2026), smart taxpayers will start thinking about their tax bill for the new year far in ...

The IRS on Thursday announced adjustments it is making to a host of line items on your federal tax return for this year and next. Those updates are the result of changes in inflation but also due to ...

The IRS released the 2026 standard deduction amounts you’ll use for your 2026 tax return — and they're higher than ever. Knowing the standard deduction amount for your status can help you determine ...

You might find that your most fruitful tax breaks aren’t hiding in itemized deductions — but they might be waiting for you after age 65. Data from the IRS shows that 90% of taxpayers choose the ...

The IRS recently announced some changes to standard deductions and tax brackets. It's important to understand the new tax rules so you don't pay more to the IRS than you need to. In the U.S., ...

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 ...