This article was published by the IRS. New Schedule 1-A and Form 1040 instructions show how taxpayers will claim important deductions The Internal Revenue Service published, for tax year 2025, a new schedule that taxpayers will use to realize important tax benefits of the One, Big, Beautiful Bill, including no tax on tips, no tax on [...]
We observed World Elder Abuse Awareness Day in June. In that same spirit, let's recognize and celebrate older adults and the value they bring to society. Elder abuse is a worldwide problem, and it's up to all of us to prevent it. Our government agencies can help advance the lives of older adults. For example, the [...]
This article was published by the IRS. Planning for retirement may seem daunting, but it’s important to start early. Individual retirement accounts provide tax incentives for people to make investments towards their financial future. IRAs let earnings grow tax deferred. Individuals pay taxes on investment gains only when they make withdrawals. Depositors may be able to [...]
American taxpayers age 65 and older may be eligible to claim an additional $6,000 tax deduction per person. Learn more at IRS.gov/OBBB.
