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
Dependent-care FSAs now shield up to $7,500 from federal income and payroll taxes
The dependent-care FSA ceiling rose to $7,500 for 2026, increasing the amount of pay that can avoid federal income and payroll taxes when it funds...
$3,400 can go into a health FSA in 2026, with $680 carried forward
Workers may direct as much as $3,400 of salary into a health flexible spending arrangement for a plan year beginning in 2026, while a plan...
Bronze and catastrophic marketplace plans now qualify for HSA contributions
A bronze or catastrophic health plan can now open the HSA door even when its deductible or out-of-pocket design would have failed the traditional federal...
$8,750 can go into a family HSA in 2026
The 2026 family health savings account limit is $8,750, but that figure belongs to the coverage and the calendar, not separately to every person in...
Buy a stock back within 30 days and the wash-sale rule can postpone your tax loss
The wash-sale rule is a timing rule disguised as a trading rule. An investor may sell stock at a genuine economic loss, buy back into...
Stock losses can offset $3,000 of ordinary income each year, with leftovers carrying forward
A losing stock position does not automatically produce a tax deduction equal to the loss. Federal rules first force gains and losses through a netting...
The 1099-K tax-form threshold is back to $20,000, sparing casual online sellers surprise forms
Anyone who sold a few household items online or split expenses through a payment app can breathe easier this tax season. The reporting threshold that...
Student-loan forgiveness is taxable again in 2026, and $50,000 wiped out could mean a $10,000 tax bill
Borrowers who watched a stubborn student loan finally disappear now face an unwelcome sequel: a tax bill. A temporary federal rule that treated forgiven student...
Some states don’t tax Social Security, pensions or retirement income at all
Two retirees with identical pensions and Social Security checks can owe sharply different tax bills depending on nothing more than the state line they live...
Georgia permanently cut its state income-tax rate to 4.99% for 2026, trimming what retirees owe.
Georgia’s flat state income-tax rate falls to 4.99% for 2026, down from 5.19% the year before, under a law that took effect retroactively to January...
Filed a federal extension? Your 2025 tax return is due October 15 before penalties and interest build.
October 15 is the hard stop for anyone who requested an extension on a 2025 federal return, and it carries a costly misunderstanding. The extension...
The 2026 standard deduction rises to $16,100 for singles and $32,200 for married couple
Tens of millions of taxpayers filing returns in 2027 will see a modest bump in the amount of income shielded from federal taxes, after the...
The state-and-local tax deduction cap jumped to $40,000, letting homeowners in high-tax states write off far more than the old $10,000.
Millions of homeowners in states like New York, New Jersey, and California can now write off up to $40,000 in state and local taxes on...
Single filers 65 and older get an extra $2,050 standard deduction for 2026.
Single filers who are 65 or older will be able to claim an extra $2,050 on top of the regular standard deduction when they file...
The IRS grace period is over, so many heirs must take yearly withdrawals from an inherited IRA or risk a 25% penalty.
Heirs who inherited individual retirement accounts after 2019 and skipped annual withdrawals during the IRS transition period now owe those distributions starting in 2025, or...
Who qualifies for the new $6,000 senior tax deduction? You must be 65, and it shrinks once income tops $75,000.
Americans age 65 and older gained a new federal tax break worth up to $6,000 per person, but the benefit shrinks for single filers earning...
$25,000 of tip income is now free from federal tax through 2028 under a new deduction.
Workers who earn tips in restaurants, salons, rideshare vehicles, and other service jobs can now shield up to $25,000 of that income from federal income...
$10,000 of car-loan interest is now deductible through 2028 for buyers earning under $100,000.
Buyers who finance a car on a loan taken out after Dec. 31, 2024, can now write off up to $10,000 a year in interest...
The federal estate-tax exemption rose to about $15 million per person in 2026
Wealthy families just received a permanent tax break that will keep more of their estates out of the IRS’s reach. Starting with deaths in 2026,...
Long-term-care bills turn tax-deductible once medical costs top 7.5% of income
Families paying for nursing home stays, home health aides, or long-term care insurance premiums can claim those costs as itemized tax deductions, but only after...