For seniors across the country, perhaps the most noteworthy aspect of the new bill is the additional deduction for this demographic. Taxpayers who are 65 or older can now claim an additional $6,000 as ...

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Retirement often brings the hope of reduced tax burdens, especially concerning Social Security benefits. However, a significant portion of these benefits may still be taxable.

Eligible seniors can claim the full deduction even if they itemize. For example, if your itemized deductions total $30,000, you can add the $6,000 senior deduction to bring your total to ...

Employers are responsible for providing statements for workers to claim federal income tax deductions on overtime compensation.

New federal law could save Mississippi retirees thousands in taxes — but the benefit is set to expire in 2028.

A new temporary tax deduction for seniors offers relief, but it’s not a direct cash payment. Knowing the rules is key to ...