FREE NEWSLETTER
Go to main Forum page »
Sharing an article from the NYT on 2025 Tax Changes. A good overview, a few items have a bit more nuisance that the headline, e.g. “No Tax on Tips.” Feels like the SALT changes will be the biggest opportunity for most filers. I’m hopeful the charitable donations for those who don’t itemize ($1k single and $2k joint filers) will be helpful for the nonprofit world.
https://www.nytimes.com/2026/02/06/business/2025-taxes-return-refund-income.html?unlocked_article_code=1.K1A.iHXT.kv9jMyWndiZh&smid=url-share
Happy Tax Filing!
Suzee. I was aware of things that affected me already. I just submitted my last MFJ return using TT as my wife passed in 2025. The only confusion was about how TT handled the transfer of her IRA to me. It took 3 tries, but I got a helpful lady that got that fixed.
I have always done my taxes and I also do my son’s return for his small business. Taxes have become so complicated that most people cannot do them on their own. My old accounting professor used to refer to the tax accountant’s relief act of 19XX that in its quest for simplification would add hundreds of pages to the tax code and would assure tax accountants work for many years. It is even more true today.
One piece of advice. If you donot already have an IP Pin, request one from the IRS. This will prevent bad actors from filing in your name.
In the small sample of the folks I deal with at AARP, the larger standard deduction and the senior deduction are generating larger refunds.
Just some information I got last year. Accountant had me set up a pin on IRS. You fill this in on either paper or online form. Once you set it up they will not process a submission without the pin. This will stop bad actors from claiming refunds against your account. You should also set a pin for your spouse to prevent false claim against them even if you have been filling joint return
It’s called an “IP PIN,” originally established for victims of identity theft. Eventually, all taxpayers were allowed to obtain one. I’ve used one since anyone could get one. Another layer of security to add. I’d advise everyone to get one.
Note the charitable donation changes take effect starting in tax year 2026.
Thanks for the clarification!!
Thanks, Suzee. I’m so glad I sold my practice several years ago, as tax prep has become even more complex in the last ten or so years. I still prepare taxes for AARP, but we won’t see many of the issues discussed in the article.
You are welcome. I really enjoy taxes and help people with planning. I’ve never been an official preparer but hope to join AARP in future as a volunteer, timing didn’t work for helping this year.
E filed on Feb 1. Small refund going into my bank account on Feb. 11. Kudos to the understaffed IRS folks.
I would think that the $6000 deduction for seniors, and the phase-out procedures, would add some complications. I suppose there will be some sort of worksheet
TT had a worksheet for that. It is not that complicated.
New schedule 1-A, part of the return, is where the various new deductions (Senior, Auto interest, Overtime, Tips) and are all calculated. I received my final 2025 tax document on 1/30/2026 and I filed the same day.
I was overpaid for 2025 and I had our 2025 return electronically transmitted and the over-payment was direct deposited today 2/9/2026. 10 calendar days from transmittal to refund is great. Filing early in tax season likely helps the speed and also locks out the bad actors who want to try to make the IRS think a fake return is real.
I filed via FreeTaxUSA (first time using this software) and I would grade the software an A. And yes, totally free as the state I live in does not have a state income tax in 2025.
I haven’t had a chance to file yet and am planning to use FreeTaxUSA as I previously mentioned. Glad to hear you also recommend it. One question I have for those who use it is whether you uploaded your 1099’s and last year’s return or simply entered the data yourself into their software.
I did a manual input. Sorry I can not address your question.
That’s my plan also. You answered my question perfectly.
I use TurboTax for planning and discovered FreeTaxUSA this past year. A great resource and believe the state filing is $15 which is great for those not needing some of more advanced features of a TT. -S
Filing early is great advice. If bad guys file (with your SS number) before you do, you have to paper file your tax return. If you are due a refund, you may have to wait for a very long time. It’s not a bad idea to request an ID Pin. With an ID Pin no one can file using your info.