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The IRS has released new guidelines to help taxpayers understand the Big Beautiful Bill, a sweeping tax reform law now in ...
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Trump Announces Senior Tax Deduction

President Donald Trump has promoted a new $6,000 senior tax deduction and pledged to protect Social Security, and ...
The Senate version of the One Big Beautiful Bill Act includes a temporary enhanced deduction for seniors ages 65 and up. The House of Representatives also proposed such a tax break in its text ...
Passed early Thursday, Trump’s "big beautiful bill" includes a temporary SALT limit of $40,000 starting in 2025. That benefit begins to phase out, or decrease, after $500,000 of income.