Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new Schedule 1-A, Additional Deductions. The changes are ...

While the "One Big Beautiful Bill" signed into law by President Trump on July 4 didn't eliminate taxes on Social Security benefits (a promise Trump made on the campaign trail), it did provide a brand-new tax deduction for seniors that will help many Social ...