In this week's Ask the Editor Q&A, Joy Taylor answers tax questions on the meaning of modified adjusted gross income, or MAGI ...

The refundable amount for workers with or without children is slightly higher this year. Here’s what you need to know.

Modified adjusted gross income (MAGI) is often used by the IRS and other federal agencies to determine your eligibility for ...

Discover who must file Form 1040 or 1040-SR in 2025, key deductions, and credits. Learn filing deadlines, penalties, and electronic options for accurate tax ...

The 2025 income limit for the tax credit for lower-income workers who save for retirement will increase slightly to $39,500 for individuals. The IRS published a draft of the 2025 version of Form 8880, ...

Up to 85% of your Social Security benefits may be taxed, but a new "senior deduction" can cut taxes—unless your income is too ...

No, the new law, better known as the ‘One Big Beautiful Bill Act’ did not eliminate Social Security taxes. It did, however, provide a temporary “senior bonus” deduction (starting in 2025 through 2028) ...

Do I have to pay taxes on my Social Security retirement benefits? I heard that President Trump’s "Big Beautiful Bill" eliminated that. What can you tell me? No, the new law, better known as the "One ...