Вход на сайт

Просмотр новости

Найдите то, что Вас интересует

Tax season begins today: Here are the changes to know about before you file

Дата публикации: 25-01-2026 03:25:09



The “Big, Beautiful Bill Act,” which became law last year, introduced major changes to the U.S. tax code that could increase your deductions and tax credits for the 2026 tax filing season.
Tax deductions decrease the amount of taxable income you report, while tax credits lower your tax bill dollar for dollar. Both are valuable tools for minimizing what you owe.
When filing your return, you have the option to choose between taking the standard deduction or itemizing your deductions. To determine which benefits you most, calculate your total itemized deductions. Compare that amount to the standard deduction available to you. Selecting the higher of the two will result in the greatest tax savings.
If you are eligible for tax credits, you can claim them regardless of whether you itemize your deductions or take the standard deduction.
The IRS will start accepting returns on Jan. 26, and the filing deadline is April 15.
Standard tax deductions
Standard tax deductions have increased for the 2026 filing season, lowering the amount of taxable income for filers.
Here are the standard deductions under President Donald Trump’s tax and spending law, which he signed on July 4, 2025.
Single $15,750Head of Household$23,625Married filing jointly$31,500
Taxpayers 65 and older can qualify for even larger deductions:
Single Senior (65+) below 75k adjusted incomeadditional $6,000Married Seniors (both 65+) below 150k total adjusted incomeadditional $12,000
SALT deductions
The state and local tax deduction quadrupled from $10,000 to $40,000 for tax years 2025 through 2029 for incomes under $500,000.
Filers in high-tax states may be more likely to switch from standard to itemize deductions with this increase.
Itemized deductions also include:
Medical and dental expenses, if expenses exceed 7.5% of adjusted gross income for the year. This applies only to expenses not compensated by insurance
Interest on mortgage loans up to $750,000 ($375,000 for married filing separately)
Casualty or theft losses in the case of a federally declared disaster
Child tax credit
Child tax credits for this year increased from $2,000 to $2,200 per qualifying child. It is available to all eligible taxpayers, whether they take the standard deduction or itemize their deductions.
To qualify for this tax credit, the child must:
Be under 17 at the end of the tax year.
Be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister or a descendant of one of these (for example, a grandchild, niece or nephew).
Not provide more than half of his or her own support for the tax year.
Have lived with you for more than half the tax year.
Be claimed as a dependent on your return.
Child must not have filed a joint return with another person (for example, their husband or wife) to claim any credits. Your child can file a joint tax return only to get a tax refund on tax withheld from their paycheck or estimated tax paid..
Be a U.S. citizen, a U.S. national such as an American Samoan, or what the IRS defines as a U.S. resident alien, where you meet the tests for a green card or the substantial presence in the United States for the year.
To qualify for the full amount of the child tax credit for each qualifying child, your annual income cannot exceed $200,000 or $400,000 if filing jointly. If your income exceeds this, you may be able to apply for a partial credit.
Did you earn overtime or tips?
Income tax deductions for qualified tips and overtime are available for all eligible taxpayers. They are also available for self-employed individuals.
Tip deductions:
Single, earning less than $150kDeduct up to $25kMarried filing jointly, earning less than $300kDeduct up to $25k
Overtime deductions:
If a typical wage is $10 and overtime is $15, only the additional $5 can be added to the overtime deduction.
Single, earning less than $150kDeduct up to $12,500 of income exceeding typical rate of payMarried filing jointly, earning less than $300kDeduct up to $25,000 of income exceeding typical rate of pay
Did you buy an American-made car in 2025?
A new tax deduction allows taxpayers to deduct up to $10,000 in interest paid on a qualifying auto loan for vehicles assembled in the United States.
To qualify, your income muse be less than $100,000 a year as a single filer or $200,000 a year for joint filers. This deduction is available whether you itemize deductions or take the standard deduction. .
A qualifying vehicle includes a car, minivan, van, SUV, pickup truck or motorcycle that underwent final assembly in the United States and has a gross vehicle weight rating of less than 14,000 pounds.














Economy

Jan 4



Last year's odd economy and what to watch for in 2026














health care

Jan 8



House passes bill to extend health care subsidies in defiance of GOP leaders






Did you sell or trade crypto?
For tax purposes, digital assets are considered property and not currency. Any income from digital assets, like cryptocurrency or NFTs, nonfungible tokens, is taxable.
Reporting requirements have changed this tax season. The IRS now requires brokers to file a new form, Form 1099-DA, which is designed to help ensure that investors are accurately reporting crypto-related transactions.
Did you sell items on eBay, Etsy or Poshmark?
If you earn income through third-party apps or online marketplaces, those platforms are now required to issue Form 1099-K only if your total payments are over $20,000 and you completed more than 200 transactions on a single platform during the year.
However, even if you do not receive or are eligible for the 1099-K form, you are still required to report all taxable income earned on the platform.

Схожие новости

#Наименование новостиТональностьИнформативностьДата публикации
1The COVID tax refund deadline is July 10. How to file a claim online with the IRS0709-07-2026
2The Child Tax Credit Leaves Out Millions of Children in 2026. There Are Better Alternatives.09.3810-03-2026
3What happens if you miss the tax deadline?012.6215-04-2026
4Минфин: С 1 сентября вступит в силу новый налоговый вычет0701-07-2026
5Is the IRS open on Presidents Day? Details on 2026 hours09.3815-02-2026
6С 1 сентября 2026 расширен перечень оснований для налогового вычета по долгосрочным сбережениям018.0401-09-2026
7С 1 сентября 2026 года: в России появится новый налоговый вычет на долгосрочные сбережения0502-07-2026
8Новый налоговый вычет появится в России с 1 сентября012.9421-08-2026
9Упрощенный порядок помог вернуть северянам более 570 млн рублей налога011.4315-05-2026
10Was kann man alles von der Steuer absetzen? Tipps zur Steuererklärung 2025010.9630-07-2026

Классификация: Экономика. Схожих патентов: 0. Схожих новостей: 10. Тональность: 0. Информативность: 7.17. Источник: www.nbcbayarea.com.