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Blog.etax.com news digest

  • 29 days

    The SALT Deduction in 2025: Guide to the New $40,000 Cap

    The State and Local Tax (SALT) deduction has long been a focal point for taxpayers in high-tax states. Starting in 2025, a landmark change to federal tax law significantly expands this benefit. This guide covers everything you need to know about the...

  • 1 month

    Guide to the New 2025 Overtime and Tip Tax Deductions (Schedule 1-A)

    Taxpayers preparing for the 2025 federal return season have a new opportunity to lower their taxable income—but it requires preparation. Under the One Big Beautiful Bill Act, new deductions for overtime premiums and tip income take effect for the 20...

  • 3 months

    IRS Is Phasing Out Paper Checks: What This Means for Your 2025 Tax Refund

    If you’re used to getting a paper check for your tax refund or mailing a check to pay your taxes, a significant change is on the way. The federal government is moving to an all-electronic system for payments and receipts, and this includes most transactions...

  • 3 months

    2026 Tax Deductions for Seniors: New $6,000 Bonus & Standard Deduction Hikes

    Big changes are coming for Americans age 65 and older on their 2026 tax returns. The recently enacted “Big, Beautiful Bill” (GOP tax package, July 2025) introduces a major new $6,000 bonus deduction for seniors, available from 2025-2028.
    On top of this, the IRS has also announced its annual inflation adjustments for 2026, increasing both the regular standard deduction and the extra standard deduction for seniors....

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