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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.