01/06/2026
TAX CHANGES TO KNOW ABOUT.
Tax season is approaching, and several major changes affect 2025 returns you’ll file in 2026.
While the IRS hasn’t announced the official start date, there are key updates you should know before filing.
-- The standard deduction is going up for 2025 with about a 5% increase on top of normal inflation.
Married couples filing jointly get an extra $1,500.
Seniors 65 and older or those who are blind get an even bigger boost with $2,000 extra for single filers and $1,600 more for each spouse on a joint return.
In 2026 the standard deduction continues rising to $32,200 for married couples filing jointly, $16,100 for single filers, and $24,150 for heads of household.
-- If you’re 65 or older, you may qualify for an additional deduction of up to $6,000 ($12,000 for married couples filing jointly).
-- Families will see a modest boost, with the Child Tax Credit increasing from $2,000 to $2,200 per qualifying child for 2025.
-- Purchased a new American-assembled vehicle in 2025? You might be able to deduct up to $10,000 in interest paid on your loan.
-- Service workers can now deduct up to $25,000 in tip income, while overtime workers can deduct up to $12,500 ($25,000 for joint filers).
Getting your W‑2s, 1099s, and other records organized now will make filing smoother and help you maximize refunds.