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By: Julia Glum Editor: Kaitlin Mulhere The U.S. just kicked off its first tax season since President Donald Trump signed the One Big Beautiful Bill Act, or OBBBA, last July. Politics aside, the law is likely to affect how much you owe the IRS, how big your refund is and more. The OBBBA extended and modified a lot of the provisions in the 2017 Tax Cuts and Jobs Act, which Congress passed during Trump’s first term. Crucially, many of the consumer-facing changes in the OBBBA were retroactive to the beginning of 2025, meaning they’ll affect the tax returns folks file this spring. According to Hannah […]...

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From a new $6,000 deduction to updated income limits that affect Medicare and retirement withdrawals, here’s what retirees need to know.

Once a companion bill is approved in the Senate, the legislation will go to Gov. DeSantis’ desk.