A new tax break is available this filing season for taxpayers who have car loans on vehicles that meet certain specifications. The One Big Beautiful Bill Act (OBBBA), which was passed through Congress ...

A new tax break for older Americans could put thousands of dollars back in your pocket this filing season. The so-called "senior bonus deduction" allows eligible taxpayers to deduct up to $6,000 from ...

Social Security's trust funds are expected to be depleted in 2032. This could lead to benefit cuts unless the government reforms the program. The new senior tax deduction could accelerate the trust ...

The overtime deduction is an option whether a taxpayer claims the standard deduction or itemizes deductions, such a deducting mortgage interest. It's a mixed bag when it comes to what employers are ...

This tax season, taxpayers who bought a new car in 2025 may be eligible for a new deduction on their auto loan. The One Big Beautiful Bill Act—also known as the Working Families Tax Cut—that was ...

The "big, beautiful bill" provided a new tax deduction for seniors. Retirees can deduct $6,000 on their taxes, while married couples are allowed to deduct up to $12,000. You just have to check the box ...

Four new tax deductions are available on federal returns for eligible taxpayers whether they itemize deductions, such as claiming mortgage interest, or claim the standard deduction. All four big tax ...

(InvestigateTV) — A new “senior bonus deduction” is available this tax season for filers age 65 and older, on top of the existing standard deduction. The deduction can be worth up to $6,000 for ...

The much-touted new tax breaks for tips, overtime, seniors and car loan interest have a lot of income tax filers expecting a big bump in their refunds this year – or a big cut in their tax bill. That ...

Reminder: If you purchased a new car last year, pay close attention to your 2025 tax filing. A new federal tax deduction is allowing some taxpayers to deduct interest paid on auto loans for the first ...

Available to nearly all taxpayers, the standard deduction allows filers to lower their taxable income without providing supporting documentation for deductions or credits. What your standard deduction ...