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
Seniors 65 and older get a higher income threshold before they must file a federal tax return
A retiree living on a modest fixed income may not owe the IRS anything, and in many cases is not even required to file a...
A new law raised the state-and-local tax deduction cap to $40,000, easing the bill for many homeowners
For nearly a decade, a $10,000 ceiling on the federal deduction for state and local taxes squeezed homeowners in high-tax areas, capping the property and...
Retirees who owe at filing can have taxes withheld from Social Security or pay quarterly
A retiree who ends up owing the IRS at tax time usually has two ways to head off the same surprise the following year: have...
Homeowners 65 and older in Texas can now shield $60,000 of value from school taxes
Texas homeowners who are 65 or older can now exempt $60,000 of their home’s value from school district property taxes, a sixfold jump from the...
No tax on car-loan interest lets buyers deduct up to $10,000 on a new U.S.-assembled vehicle
Buyers of a new car assembled in the United States can now deduct up to $10,000 of the interest they pay on the loan, a...
No tax on tips lets qualifying workers deduct up to $25,000 on the return they file next year
A new federal deduction lets many tipped workers subtract up to $25,000 in reported tips from their taxable income, a break that applies to the...
Extension filers have until October 15 to claim new breaks on tips, overtime and car-loan interest
Taxpayers who requested a six-month extension back in April have until October 15, 2026, to file their 2025 federal return, and this year that return...
Filing Form W-4V lets you have federal tax withheld from Social Security and avoid a surprise April bill
Retirees who owe tax on their Social Security benefits can arrange to have the money withheld before the check ever arrives, using a single one-page...
A bill in Congress would let homeowners 65 and older shield up to $1 million in home-sale profit from capital-gains tax
A home that was bought for a modest sum decades ago and is now worth well over a million dollars can hand its owner a...
“No tax on Social Security” is really a $6,000 senior deduction that phases out above $75,000 and ends in 2028
The phrase “no tax on Social Security” was one of the most repeated promises in recent tax politics, and it landed in the law that...
Social Security’s payroll tax will apply to the first $184,500 of wages in 2026, up from $176,100
The amount of earnings subject to Social Security’s payroll tax climbs to $184,500 in 2026, up from $176,100 the year before, an increase of $8,400....
Unemployment benefits are taxable, so a layoff can trigger a surprise tax bill
A layoff cuts off a paycheck, and the unemployment benefits that replace part of it feel like a lifeline rather than income. The Internal Revenue...
Overtime pay up to $12,500 is deductible on 2026 tax returns
Workers who log extra hours can deduct up to $12,500 of their qualified overtime pay on a 2026 tax return, a break that climbs to...
Tipped workers can deduct up to $25,000 of tips on their 2026 return under the new Schedule 1-A
Workers who earn tips can subtract up to $25,000 of that income from their taxable earnings on a 2026 return, using a new IRS form...
The $6,000 senior tax deduction disappears after 2028 unless Congress renews it
A tax break worth $6,000 per person for Americans 65 and older is set to vanish after the 2028 tax year, a sunset written into...
A new $10,000 car-loan interest deduction lands on 2026 tax returns for buyers of U.S.-built vehicles
A tax break that did not exist a year ago will show up on 2026 federal returns: buyers of new, American-assembled vehicles can now deduct...
Unused FSA money is forfeited when your job ends, so spend it before a layoff
A health flexible spending account is one of the few benefits a departing worker can lose in full on the way out the door. The...
Filers 65 and older get an extra $2,050 standard deduction in 2026, on top of the new $6,000 senior break
Filers who are 65 or older will subtract more from their income before the IRS calculates what they owe for 2026. The additional standard deduction...
Disaster-area filers in this year’s wildfire counties have until August 20 to file and pay federal taxes
A federal tax deadline that most of the country met back in the spring is still open for one group of taxpayers, and it closes...
Workers can deduct up to $25,000 in tips and $12,500 in overtime on their 2026 return using the new Schedule 1-A
A new federal deduction lets workers who earn tips or overtime subtract a large slice of that pay before their income is taxed, and the...