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Filing your 2025 federal income tax return can provide valuable insights to help with 2026 tax planning. For example, if you receive a large refund or owe significant taxes for 2025, you can benefit from revisiting your withholding for 2026. Although a large refund can provide an enjoyable cash boost, it really means you were missing money in your pocket during the year and, essentially, giving the government an interest-free loan. At the opposite end of the spectrum, a large

The Internal Revenue Code has long had much to offer taxpayers who are 50 or older, nearing retirement, or already in their golden years. And the One Big Beautiful Bill Act (OBBBA), enacted last July, expanded several tax breaks and added new opportunities for older taxpayers. Whether you're in this age group and preparing your 2025 federal income tax return or looking to optimize future tax outcomes (or both), here are seven tax breaks to consider. 1. Additional Standard Ded

Divorce or legal separation creates many questions. Among the most important financial considerations for couples with children is who'll be eligible for potentially valuable child-related federal income tax breaks. Claiming the Child The Internal Revenue Code includes rules for determining when a divorced or legally separated parent is the "custodial" parent and can treat a child as his or her qualifying child for federal tax purposes, potentially making that parent eligible