When filing a federal tax return, Americans face a key choice that can directly affect how much they owe—or how much they get ...

A bigger standard deduction, changes in the itemizing rules and new temporary deductions all complicate the decision. Here’s how to choose the option that’s best for you. When it comes to federal ...

If you are in the process of filing 2025 state and federal income tax returns, you may be stumped by the decision to either file using standard deduction or spend the extra time and effort needed to ...

Millions of taxpayers are using a new IRS form to claim deductions for tips, overtime, car loan interest, and seniors. What is Schedule 1-A?

The IRS raised the senior tax deduction for 2025. Here’s who qualifies, how much you can claim, and what retirees should know before filing.

Form 1040 is a federal income tax form that most people use yearly to report their tax information to the IRS. Taxpayers fill out the form, listing their income and any tax deductions or credits ...

Forbes contributors publish independent expert analyses and insights. Matthew F. Erskine is a trusts and estates attorney. When President Trump signed the One Big, Beautiful Bill Act (OBBBA) into law ...