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.)

President Donald Trump ’s ‘big beautiful bill’ delivers a temporary higher limit on the federal deduction for state and local taxes, known as SALT. But the phaseout, or income-based benefit reduction, could trigger a tax surprise for some higher earners, experts say.

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.

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,

Under the bill, the SALT cap temporarily increases to $40,000 per year, so long as your annual income does not exceed $500,000.

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.

Big beautiful bill extends tax cuts, rates from 2017. The bill permanently extends the tax cuts introduced in the 2017 Tax Cuts and Jobs Act, which were set to expire this year.

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