The 'One Big Beautiful Bill Act' introduces a temporary $6,000 tax deduction for seniors, but income limits may exclude wealthier individuals. Understand the eligibility criteria and how this affects ...

The One Big Beautiful Bill Act provides a $12,000 tax deduction for couples over 65 from 2025 to 2028, offering targeted relief.

President Donald Trump signed his tax cut and spending package, dubbed “one big, beautiful bill,” into law July 4. The Senate passed the package July 1 with a 51-50 vote, leaving Vice President JD ...

Question: I am retired and receive monthly Social Security benefits. I heard that the newly enacted so-called “One Big Beautiful Bill” (OBBB) eliminates federal income tax on Social Security benefits.

Taxpayers face a learning curve for figuring out how key tax deductions in the mega tax bill will work when they file 2025 tax returns next year.

NBC News reports that the new package extends tax cuts that Trump introduced during his first term in 2017. The new package includes cuts to Medicaid, SNAP and clean energy funding, a temporary slash ...