The earned income tax credit, or EITC, is a tax break that can help low- to moderate-income working families save thousands at tax time. Whether you can claim, however, depends on your filing ...

The Reconciliation Bill being debated in the Senate contains many tax provisions beyond extending portions of the Tax Cuts ...

The earned income tax credit (EIC or EITC) is for low- and moderate-income workers. See qualifications and credit amounts for 2024 and 2025. Many, or all, of the products featured on this page are ...

Enter the Bonus Tax Relief for America’s Seniors Act, newly proposed bipartisan legislation. If approved, the bill would more than double the additional standard deduction for those over age 65 ...

For 2025, married couples over 65 filing jointly will also see a modest benefit. The extra deduction per qualifying spouse will increase from $1,550 in 2024 to $1,600 for 2025, a $50 increase per ...

The Earned Income Tax Credit (EITC) can reduce taxes and increase refunds for low- to moderate-income workers and families. The credit ranges from $632 to $7,830 for the 2024 tax year.

For single filers and heads of households age 65 and over, the additional standard deduction will increase slightly — from $1,950 in 2024 (returns you’ll file soon in early 2025) to $2,000 in ...

The present amount of income that is tax exempt for seniors over 65 years old is $25,000 for single filers and $32,000 for married filers. With the new act, those figures would be doubled to ...

New bill could more than double tax deductions for people over 65. The Bonus Tax Relief for America’s Seniors Act was recently introduced by a bipartisan group of lawmakers: Reps. Nicole ...