It’s tax-filing time — here’s what to know about deductions, 'no tax on tips,' and more
Yahoo Finance·2026-01-27 01:41

This year’s tax season — which officially kicks off Monday — will be a doozy. The Internal Revenue Service anticipates receiving some 164 million individual income tax returns, with the bulk filed online, as Americans digest the many provisions of President Trump’s signature One Big Beautiful Bill Act. Upgrades include measures relating to tips and overtime, a hike in the maximum child tax credit, an increased cap for state and local tax deductions, and a bigger deduction for qualifying seniors. The Ba ...

It’s tax-filing time — here’s what to know about deductions, 'no tax on tips,' and more - Reportify