The IRS has raised the standard deduction for married couples filing jointly to $32,200 for the 2026 tax year.

In this week's Ask the Editor Q&A, Joy Taylor answers tax questions on the 20% deduction for qualified business income or QBI ...

A new tax break under the ‘One Big Beautiful Bill Act’ gives Americans 65 and older a larger standard deduction to help ...

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 ...

A United States Treasury government check rests on top of a Social Security card. The Social Security Administration (SSA) issued a press release and an email to tens of millions of Americans claiming ...

How does the deduction work? Here's what to know about the federal write-off for state and local taxes. A deduction to defray homeowners' state income taxes and local property taxes is getting much ...

It’s been a dizzying few months since Melanie Lauridsen, the AICPA’s vice president–Tax Policy & Advocacy, last appeared on the Journal of Accountancy podcast. In fact, just the past week has been ...

Some U.S. homeowners may soon get a sizable tax break thanks to the massive budget package that was passed by the House early Thursday. The legislation — dubbed the One Big Beautiful Bill Act — ...

When the Tax Cut and Jobs Act of 2017 (TCJA) was a major overhaul of the federal tax code that was designed to both reduce taxes and simplify tax filings for most taxpayers. You may recall that tax ...

Beginning on 2025 tax returns, new car buyers might qualify for an above-the-line deduction of up to $10,000 in car loan interest in a year. Taxpayers will not be able to deduct interest on loans ...