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

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.

Illinois stands to lose about $48 billion in federal funding for Medicaid over 10 years, according to KFF, a nonprofit organization focused on health policy.

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.

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.)

Many filers won’t be able to take full advantage of expanded deductions in the recently passed tax law.

Receiving a big tax refund can feel like winning the lottery. The direct deposit hits, and suddenly there’s extra money in your account. For many Americans,

Also: A way to limit your risk while investing in Nvidia, and advice on financial gifts drawn from retirement accounts.