Trump promised to eliminate the tax on Social Security benefits in his 2024 campaign, but the bill instead adds a new deduction.

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.

Santa Clara County officials fear that Republicans’ “big, beautiful bill” will rip a “seismic tear” in the country’s social safety net as they brace for more than $1 billion in lost federal revenues locally over the next few years.

The One Big Beautiful Bill Act is temporarily quadrupling the state and local tax deduction to at least $40,000, up from $10,000, for the next five years. Now it’s up to taxpayers to see if they can take advantage of this extra write-off, which is popularly referred to as the SALT deduction.

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Following the passage of President Trump's sweeping budget bill, here's some of the biggest changes to student loans.

“We want Illinoisians throughout our state to understand the ripple effects of the Trump administration’s cruelty and be prepared for what’s to come,” Lt. Gov. Juliana Stratton said during a panel discussion at the Greater Chicago Food Depository Thursday.

Great Lakes groups have spent two decades pushing for a new icebreaker, and the hoped-for money was pulled from the final version of the One Big Beautiful Bill.