In this episode of Tax Notes Talk, Damien Martin and Tony Nitti of EY discuss the second three of their top six tax cases of 2025, focusing on what qualifies as a deduction in Savage v. Commissioner, ...

Tax rules in 2026 tilt even more heavily toward people who take the standard deduction, thanks to new above the line write offs layered on top of existing ones. If you know where to look, you can trim ...

Owning a home comes with costs, but it also provides tax benefits that can lower your taxable income. For those filing taxes in 2025, deductions like mortgage interest and home office expenses have ...

For Americans 65 and older, the 2025 and 2026 tax years are unusually generous. A new senior-focused deduction stacks on top of already elevated standard deductions, creating a chance to shield tens ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. So, this April, existing home equity borrowers may be well-served by ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

An accrual-basis taxpayer normally takes deductions for expenses in the year the item accrues. But when the expense accrued by the taxpayer is owed to a related party who uses the cash basis of ...

The IRS offers various tax breaks for homeowners that can help lessen the financial burden associated with homeownership. Common tax breaks available to homeowners include a mortgage interest ...