Category: Changes and Deadlines

The Treasury Department and IRS released guidance confirming that workers who earn tips can deduct up to $25,000 in qualified tip income from their federal taxes for tax years 2025 through 2028. The new deduction, created under the One, Big, Beautiful Bill Act, is retroactive to 2025 but will not change paychecks right away because…

The White House declared the 2026 filing season the “biggest tax refund season ever,” projecting that refunds would rise by $1,000 or more thanks to the One Big Beautiful Bill Act signed into law on July 4, 2025. Early IRS data shows average refund checks climbing 10.9% compared with the same point last year, but…

The Florida House has passed a proposed constitutional amendment that would exempt homestead properties from all non-school property taxes, a measure that now awaits Senate action. The bill, CS/CS/HJR 203, would strip cities and counties of one of their most reliable revenue streams, and municipalities like Miramar in Broward County are already calculating what the…

Missouri lawmakers are pushing to slash the rate at which the state taxes personal property such as cars, trucks, and boats, a move that could cut assessment levels nearly in half. HB 903, which emerged from the House Special Committee on Tax Reform, would phase down the personal property assessment percentage to 18% of true…

The Florida House of Representatives moved quickly on a sweeping property tax relief proposal on February 19, 2026, passing HJR 203 by a vote of 80 to 30. The joint resolution, which proposes a constitutional amendment to phase out non-school ad valorem taxes on homestead properties, now heads to the Florida Senate for consideration. If…

The Florida House of Representatives voted 80-30 on February 19, 2026, to pass a joint resolution that would exempt homestead properties from certain non-school ad valorem (property) taxes, if it is ultimately approved by the Senate and voters. Designated CS/CS/HJR 203, the measure proposes a constitutional amendment to exempt homesteads from all non-school ad valorem…

The IRS reported that the average tax refund for the 2025 tax year stands at $2,290 as of early February 2026, a 10.9% jump from the $2,065 average recorded at the same point last year. The increase arrives during a filing season shaped by new federal deductions and growing questions about whether the agency has…

Congress has blocked the District of Columbia from opting out of federal tax breaks on tips, overtime pay, and a senior standard deduction, forcing the city to conform to changes enacted under the One, Big, Beautiful Bill. The President signed H.J.Res. 142 into law, nullifying the D.C. Income and Franchise Tax Conformity Revision Temporary Amendment…

The White House said on January 26, 2026, that President Donald Trump’s Working Families Tax Cuts Act is delivering what it described as the largest tax refund season in U.S. history. The legislation, enacted as Public Law 119-21 on July 4, expanded the child tax credit, raised the standard deduction, and created new write-offs for…

Americans age 65 and older can now claim a brand-new tax deduction worth up to $6,000 per person, or $12,000 for married couples filing jointly, starting with their 2025 returns. Created by the One Big Beautiful Bill Act, signed into law on July 4, 2025, as Public Law 119-21, the Enhanced Deduction for Seniors is…