Core Insights - The article emphasizes the urgency for individuals to take specific actions before the April 15 tax filing deadline to potentially increase their tax refunds or reduce their tax liabilities [1][2] Group 1: Tax Strategies - Increasing IRA contributions can reduce taxable income and enhance tax refunds, with the maximum contribution limits varying by age [3][10] - Contributing to a Health Savings Account (HSA) can also lower taxable income, with contribution limits set at $4,300 for individuals under 55 and $5,300 for those 55 and older for the 2025 tax year [4][5] - Tax deductions and credits introduced by the One Big Beautiful Bill Act in 2025 can significantly alter tax returns, making it essential to identify all eligible deductions and credits [7][8][9] Group 2: Filing Status - Choosing the correct tax filing status is crucial as it affects tax brackets, standard deductions, and eligibility for credits, especially after major life changes [11]
Want a bigger tax refund? 4 money moves to make before April 15.
Yahoo Finance·2026-03-02 14:00