A new, temporary 'senior bonus' will enable many taxpayers age 65 and older to deduct up to $6,000 in income from their federal returns. You must file a new Schedule 1-A. The new enhanced deduction ...

The IRS has announced the annual inflation adjustments for the year 2026, including tax rate schedules, tax tables and cost-of-living adjustments. These are the official numbers for the tax year ...

The budget bill passed in July adds a new deduction for seniors that could eliminate taxes on social security for some.