Federal tax code overhaul under the One Big Beautiful Bill Act delivers sweeping changes for individuals and businesses, ...

Here's what you can deduct if you aren't itemizing, along with tax brackets, senior deductions including the phaseout ramp, ...

From standard deduction amounts to tax brackets and Medicaid cuts, here’s what individual filers need to know about tax ...

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. Photo by JIM WATSON/AFP via Getty ...

One of the biggest decisions people make at tax time is whether to itemize or take the standard deduction. Most people take the standard deduction, according to IRS data, but tax pros warn that if you ...

WASHINGTON — The Internal Revenue Service announced this week that Americans will see modest increases in standard deductions and tax bracket thresholds for 2026, part of the agency's annual inflation ...

Social Security numbers (SSNs) must be shown on the return for each child for whom the credit is being claimed, but also, new ...