Tax Changes & Deadlines
New tax laws, bracket changes, deduction updates, filing deadlines, refund timelines, and what taxpayers need to know each season.
Latest in Tax Changes & Deadlines
Who loses the new $6,000 senior tax deduction? Retirees whose income tops $75,000, or $150,000 for a couple
Retirees with modified adjusted gross income above $75,000, or $150,000 for married couples filing jointly, will not qualify for the new $6,000 senior tax deduction...
Starting with 2026 returns, you can deduct up to $1,000 in cash gifts, or $2,000 as a couple, without itemizing
Millions of taxpayers who claim the standard deduction will soon have a new way to lower their tax bills. Beginning with tax year 2026, individuals...
Tens of millions of taxpayers could still claim a refund if they file a special claim by July 10
Tens of millions of taxpayers who paid penalties and interest during the COVID-19 federal disaster period can still claim refunds, but the window closes on...
Grandparents raising a grandchild can claim the $2,200 child tax credit if the child lives with them most of the year
Grandparents who have taken on the full-time job of raising a grandchild stand to receive up to $2,200 in federal tax relief for the 2025...
Self-employed? You can deduct part of your rent, utilities and internet for the space you work in at home
Self-employed workers who use part of their home as a dedicated workspace can reduce their federal tax bill by claiming a portion of rent, utilities,...
Gambling winnings are fully taxable, but you can deduct losses up to what you won if you itemize
Every dollar won at a casino, sportsbook, or poker table counts as taxable income under federal law, and the IRS expects it reported on a...
Medical bills above 7.5% of your income are deductible if you itemize
Taxpayers who spent heavily on medical care in 2025 face a concrete filing decision: itemize deductions on Schedule A and claim unreimbursed costs that exceed...
A capital loss bigger than $3,000 carries forward to cut your taxes for years until it is used up
Investors who locked in steep losses during a market downturn do not forfeit the tax benefit after a single filing. Federal tax law caps the...
In a no-income-tax state you can deduct state sales taxes instead
Taxpayers who live in states that do not levy a personal income tax still have a path to an itemized deduction for state and local...
Free VITA volunteers prepare tax returns for older and lower-income filers
Thousands of older Americans and lower-income workers face a quiet but costly problem every filing season: they qualify for federal tax refunds but lack the...
Self-employed workers can deduct up to 20% of their business income before figuring tax
Millions of sole proprietors, freelancers, and small-business owners filing 2025 returns stand to reduce their taxable income by as much as 20 percent of their...
Many states let homeowners 65 and older defer property taxes until the house is sold or the owner dies
Seniors on fixed incomes across at least seven states can legally stop writing property-tax checks, pushing repayment years into the future until the home sells...
Owe the IRS $50,000 or less? You can set up a monthly payment plan online in minutes
Taxpayers who owe the IRS $50,000 or less in combined tax, penalties, and interest can skip the paperwork and set up a monthly installment agreement...
A dependent-care FSA lets you set aside up to $5,000 pre-tax for a child’s care or an adult dependent’s day program
Workers who pay for child care or adult day programs stand to keep more of each paycheck by routing up to $5,000 a year through...
If you cover more than half of an aging parent’s support, you may be able to claim them as a dependent on your taxes
Adult children who pay for a parent’s housing, food, medical bills, and other basic needs now face a direct tax question: does the money they...
A widow or widower raising a child can keep filing at the lower married-couple tax rates for two years after a spouse dies
Families who lose a spouse while still raising children face an immediate financial blow, but federal tax law offers a specific cushion: a surviving parent...
Donating appreciated stock skips the capital-gains tax and still earns a full deduction
Investors sitting on long-term stock gains face a choice every tax season: sell shares and hand a slice to the IRS, or donate those shares...
You can still put money into a traditional or Roth IRA for last year right up until the April tax deadline
Millions of taxpayers who missed the December 31 calendar flip still have months to fund a traditional or Roth IRA for the prior tax year....
Many states let homeowners 65 and older freeze their property taxes
Senior homeowners on fixed incomes across the United States face a growing squeeze as assessed property values climb, but programs in Tennessee, Oregon, Missouri, Pennsylvania,...
A homestead exemption can shave thousands off your property-tax bill, but in many states you have to file for it yourself
Millions of homeowners across the United States qualify for property-tax relief they never receive, simply because they do not file the right paperwork by the...