Retirees are about to see one of the most significant federal tax changes in years: a new extra deduction that can cut ...

Some of the most valuable tax breaks are also the ones most likely to draw extra attention if you get the details wrong. To ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

The IRS offers various tax breaks for homeowners that can help lessen the financial burden associated with homeownership. Common tax breaks available to homeowners include a mortgage interest ...

Claiming tax deductions is a powerful strategy for tax filers. Using appropriate deductions can lower your bill, increase your tax refund or make sure you're taking advantage of tax benefits offered ...

"I've been reading that with the higher standard deduction amounts, fewer people will benefit from itemized deductions than in the past. But what about deductible IRA contributions? Does that mean ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

Editor's note: A version of this article was initially published on Jan 10, 2019. It is part of the 2020 Tax and IRA Guide. Question: If I opt to take the standard deduction, can I deduct anything ...

An accrual-basis taxpayer normally takes deductions for expenses in the year the item accrues. But when the expense accrued by the taxpayer is owed to a related party who uses the cash basis of ...

Unless you've already done your 2018 taxes, the new tax laws are difficult to fathom. There are several changes that will hurt retired or soon-to-be-retired taxpayers. The most pronounced change is ...

Rockies starting pitcher Kyle Freeland delivers against the Chicago Cubs at Wrigley Field on Monday in Chicago. Buying a home has never been more expensive, but if you can find one you can afford, ...