The Financial Express

Old income tax notices resurface as 10–15-year-old tax demands appear on portal, interest piles up, says report

Decade-old income tax demands are resurfacing on the income tax portal, catching many taxpayers off guard. According to a ...
The New York Times

Trump Has a New Auto Loan Tax Break. Here’s Who Could Benefit.

Many Americans can take advantage of President Trump’s deduction on auto loan interest, but the tax break will provide only modest savings. By Adam Sella Reporting from Washington As President Trump ...
Newsweek

Social Security Beneficiaries To See Change to Taxes Next Year

Seniors relying on Social Security may have a new tax deduction in 2026. President Donald Trump’s One Big Beautiful Bill created a $6,000 deduction for seniors on top of the current standard deduction ...
AOL

7 tax deductions the IRS watches closely — and how to keep yours safe

Tax season is stressful enough without wondering whether a single deduction will draw scrutiny from the IRS. The reality? Just 0.36% of individual returns were audited in 2023, according to IRS data — ...
Investopedia

To Get This New Tax Deduction, You Must Calculate Your Overtime Pay—Here’s How

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Composite by ...
Newsweek

Seniors to Get $6,000 Tax Deduction Next Year

American taxpayers aged 65 and older will receive a new $6,000 bonus tax deduction next year as part of President Donald Trump’s One Big Beautiful Bill Act. The temporary deduction comes alongside ...
Morningstar

Ed Slott: What You Need to Know About the New Tax Deduction for Seniors

Christine Benz: Hi, I’m Christine Benz for Morningstar. People who are 65 and older may be able to take advantage of a new senior deduction starting in 2025. Joining me to discuss what you need to ...
Accounting Today

Guidance issued for tip and overtime deductions

The Internal Revenue Service and the Treasury have issued guidance for taxpayers to claim the deductions for tips and overtime pay from the One Big Beautiful Bill Act. Processing Content The two ...
Wall Street Journal

IRS Loosens Rules for Workers to Claim ‘No Tax on Tips’ Deductions

The Internal Revenue Service signaled that it is relaxing enforcement of the new “no tax on tips” law, allowing more workers to potentially take advantage of the break. The agency said Friday it is ...
Financial Planning

Teachers don't usually itemize — OBBBA could bring savings if they do

As teachers spend more of their own money on classroom supplies, the One Big Beautiful Bill Act is removing the limits on itemized tax deductions for K-12 educators. Processing Content But that new ...
MarketWatch

Homeowners: The SALT deduction is going up to $40,000. Here’s how to get the most out of it.

Homeowners now have the chance to write off much more of their state and local tax bills, and this could potentially lead to bigger tax refunds. That’s if they play their cards right on the SALT ...