This article was published by the IRS. Here's a review of tax year 2026 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Notable changes under the One, Big, Beautiful Bill The tax year 2026 adjustments described below generally apply to tax returns filed in 2027. The [...]
This article was published by the IRS. There are several new tax deductions that have been introduced for the 2026 filing season. A deduction is an amount subtracted from the taxpayer’s income when filing. Deductions lower the taxable income resulting in lowering the federal income tax obligation. New deductions for 2026 filing season Seniors age 65 [...]
Now that car loan interest can be tax-deductible, going out for a ride seems more relaxing! Thanks to the One Big Beautiful Bill, the maximum car loan interest deduction is $10,000. It's available for both itemizing and non-itemizing taxpayers. You must include the vehicle identification number (VIN) on your tax return to claim the deduction. Learn [...]
This article was published by the IRS. The 2026 tax filing season is drawing near. The IRS encourages taxpayers to “Get Ready” and start preparing now. Taking a few steps today can save time and help taxpayers ensure they’re filing accurate returns in the coming months. The annual IRS "Get Ready" campaign is a series of [...]
The OBBBA adds and expands several other tax breaks, including: Expensing of Qualified Sound Recording Productions For productions commencing in tax years ending after July 4, 2025, the special expensing rules for qualified film, television, and live theatrical productions are expanded to include aggregate qualified sound recording production costs of up to $150,000 per tax year. [...]
