Taxpayers must turn 65 before the end of 2025 to qualify for a new proposed deduction on next year's tax return. It would not matter if you're receiving Social Security benefits or delaying to claim.

A new $6,000 senior tax deduction in Trump's new tax bill, the One Big Beautiful Bill, starts in tax year 2025, offering ...

Managing your finances in a tax-efficient way requires planning and understanding of the current tax laws. A key aspect of that planning is being aware of federal income tax brackets. These brackets ...

"Individuals who receive qualified overtime compensation may deduct the pay that exceeds their regular rate of pay – such as the 'half' portion of 'time-and-a-half' compensation," the IRS said. The ...

Classic economic theory assumes low-income people would stop working if governments gave them money as a strategy to reduce ...

Taxpayers can extend the deadline to file 2024 Arkansas state income tax returns and to pay Arkansas state income taxes from July 31 to Dec. 3, the state Department of Finance and Administration ...

Kentucky tax revenues in the fiscal year ending this summer were just shy of what was needed to trigger a half-percent cut to the state's individual income tax rate in the 2027 calendar year. An Aug.