The One Big Beautiful Bill Act has supersized the standard deduction for seniors. Starting with 2025 federal returns (filed in 2026), taxpayers 65 and older can claim up to $6,000 in addition to the ...
The proposed surtax—the 2% extra tax rate would only apply to earnings over $1 million—would, Mamdani suggests, make New York’s tax more progressive. The federal income tax system, he points out, is ...
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