If you’re 65 or older and have been itemizing your tax deductions, you may wonder if the new “senior bonus deduction” in Trump’s tax bill — available starting in 2025 — could benefit you. After all, ...

As it does each year, the IRS has announced inflation adjustments to several tax credit and deduction amounts for 2026. This includes new 2026 income tax bracket thresholds, higher standard deduction ...