Plus: A famous soccer coach is sentenced to prison for tax fraud, filing an amended tax return, smoking rates and sin taxes, filing deadlines, tax trivia, and more.

Here's a look at whether you should be delighted or worried about the bill. (Spoiler: You may want to put away the confetti and noisemakers.)

The tax code is becoming charitable to many more donors thanks to changes in the new tax and spending law. That’s going to help nonprofit organizations that rely on donations, and also everyday Americans who are navigating new tax-code complexities within the One Big Beautiful Bill Act that President Donald Trump signed into law on July 4.

President Donald Trump's tax and spending bill revives and expands homeowner tax breaks — while making the current mortgage interest deduction cap permanent.

Workers who pick up extra shifts may now qualify for temporary relief on their overtime pay. From 2025 through 2028, single filers can deduct up to $12,500 of overtime pay, and married couples filing jointly can deduct up to $25,000.

President Donald Trump’s ‘big beautiful bill’ delivers a temporary higher limit on the federal deduction for state and local taxes, known as SALT.

AARP’s Fraud Wars unmasks the devastating impact of scams targeting older Americans. Watch Now. Help Register Login Login Hi, %{firstName}% Hi, %{firstName}% Games Car rental The reconciliation bill signed by President Donald Trump on July 4,

The Republicans' signature tax cut and spending package – dubbed the "big, beautiful bill" – that was signed into law last week touts tax deductions on tips and overtime pay, and also includes a tax deduction of up to $10,000 for interest paid on the car loans of qualified vehicles.

You now have less than six months to claim a tax break for a heat pump, solar panels, and other expenses to make your abode greener.

Trump's tax and spending law will impact education savings, gambling losses and tips. Here's a breakdown of the highlights.