President Trump's new budget legislation, which he signed on July 4, could affect your wallet next year. CBS News business ...

A gambling losses tax deduction cap in Trump’s “Big Beautiful Bill” is causing an uproar. Here’s what you need to know.

Several provisions of Trump's bill are poised to be retroactive to 2025 or take effect in 2026, and they may shift how ...

Under the 2017 tax bill passed under the first Trump administration, a cap was officially put on this deduction for the first time, limiting what taxpayers could deduct to $10,000. The cap is ...

The Trump administration's 2025 cost-cutting campaign at the IRS may have been all too successful.

The Trump administration’s 2025 cost-cutting campaign at the IRS was all too successful, according to an internal watchdog report. As a result, the agency may struggle through the 2026 tax ...