The IRS has announced an increase in the standard deduction for seniors in 2026, providing financial relief amid rising ...

Adjustments to the extra standard deduction can impact the tax bills of millions of older adults. Here are some new amounts to know for 2026.

To be clear, the 2026 standard deduction applies to income you earn in 2026 but is for the tax return you'll file in 2027.

Every year, as you file your federal income tax return, you have an important decision to make: itemize, or take the standard ...

If you’re retired and filing taxes, these tax credits and deductions could provide thousands in relief (if you qualify).

Americans will see higher standard deductions and tax bracket thresholds for 2026, part of annual inflation adjustments.

Earned Income Tax Credits: The maximum Earned Income Tax Credit (EITC) for tax year 2026 is $8,231 for qualifying taxpayers who have three or more qualifying children. That’s up from $8,046 for tax ...

The National Academies of Sciences, Engineering, and Medicine are private, nonprofit institutions that provide expert advice on some of the most pressing challenges facing the nation and world. Our ...

LANSING — Michigan's personal income tax returns would mirror federal tax cuts for tips, overtime pay and Social Security, under the budget deal announced Sept. 25 by Gov. Gretchen Whitmer and ...