Both the standard deduction and itemized deductions reduce the amount of tax you pay in a given year. So which is better? Should you itemize or should you keep things simple and take the standard ...

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 ...

"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 ...