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
New electric cars lost the $7,500 federal tax credit last fall, adding thousands to the price
The federal tax credit that had knocked up to $7,500 off the price of a new electric vehicle, and up to $4,000 off a used...
The 30% tax credits for home solar panels and heat pumps ended January 1
The 30% federal tax credits that made rooftop solar panels, home battery storage, and energy-efficient heat pumps meaningfully cheaper for homeowners are gone. The Residential...
Student-loan forgiveness is taxable again in 2026 for income-driven plans, so a wiped-out balance can trigger a surprise tax bill
Student-loan forgiveness earned through an income-driven repayment plan is taxable income again for any balance discharged on or after January 1, 2026, closing a five-year...
The child tax credit is worth up to $2,200 a child, with $1,700 refundable
The federal child tax credit remains worth up to $2,200 per qualifying child for the 2026 tax year, with as much as $1,700 of that...
Families who finalized an adoption in 2026 can claim up to $17,670, and part of it is refundable for the first time
Families who finalized an adoption in 2026 can claim a federal credit worth up to $17,670 per child, an increase from the $17,280 ceiling that...
The IRS rolled back the $600 1099-K rule, so casual online sellers get a tax form only above $20,000 and 200 sales
The IRS has confirmed that the Form 1099-K reporting threshold reverts to $20,000 in payments and 200 transactions, undoing a 2021 law that would have...
Bunching two years of medical bills into one can clear the deduction floor
Itemizing medical expenses on a federal tax return only pays off once total qualifying costs for the year exceed 7.5% of adjusted gross income, a...
Gifting up to the annual exclusion each year quietly shrinks a taxable estate
The federal government lets anyone give away a set amount of money to as many people as they want every year, with no gift tax...
Someone who overpaid Social Security tax through two jobs can claim the excess back on a tax return
A worker who holds two jobs in the same year, or who changes employers mid-year, can end up paying more Social Security tax than the...
A retiree can have federal tax withheld straight from a Social Security check with Form W-4V to dodge a surprise April bill
Social Security benefits can be taxable, but the government withholds nothing from the monthly check unless a beneficiary specifically requests it. That single default catches...
The 20% qualified-business-income deduction can cut a self-employed retiree’s tax bill
A retiree who picks up consulting work, drives for a rideshare service or runs a small side business is often focused on the income and...
Tipped and overtime workers can deduct up to $25,000 of tips and much overtime pay through 2028 under the new law
A new federal law lets tipped workers deduct up to $25,000 of reported tips and lets many overtime workers deduct a large share of their...
A new deduction lets car buyers write off up to $10,000 of auto-loan interest through 2028
Car buyers can now write off up to $10,000 a year in auto-loan interest under a new federal deduction created by the One Big Beautiful...
Many states let seniors freeze or defer property taxes to protect a fixed income
A rising property-tax bill can push a retiree out of a home the mortgage never could. Assessments climb with the housing market, but a fixed...
The federal tax-extension deadline is October 15, but any tax owed was due back in April
Millions of taxpayers who asked for more time in the spring are now bearing down on a hard date: October 15, the deadline to file...
No tax on overtime: a deduction up to $12,500, or $25,000 for couples, on 2025 returns
A second new federal write-off from the One Big Beautiful Bill Act lets workers deduct their overtime pay, up to $12,500 on a single return...
No tax on tips: workers can deduct up to $25,000 in tips on their 2025 return
The One Big Beautiful Bill Act created a federal deduction that lets tipped workers subtract up to $25,000 in reported tips from their taxable income,...
A new $6,000 senior deduction can cut the tax bill for many people 65 and older through 2028
Tucked into the tax law known as the One Big Beautiful Bill is a temporary break aimed squarely at older taxpayers: an extra $6,000 deduction...
Retirees in the lowest brackets can pay 0% federal tax on long-term capital gains
A retiree can sell an appreciated stock or fund held more than a year and, in the right income range, owe the IRS nothing on...
The gift-tax annual exclusion lets you give thousands to each person every year, tax-free
Every year the federal government lets one person hand money or property to as many others as they choose without filing a single tax form,...