JPMorgan’s chief strategist says a tax-refund surge is coming — could net you almost $4K. How to know if you're eligible

The OBBBA also allows a car loan interest deduction of up to $10,000 if a new vehicle was purchased in 2025 and is used for personal reasons over 50% of the time. This deduction, too, phases out for taxpayers with a gross income of $149,000 (or $249,000 for joint filers).Employees and self-employed individuals may deduct up to $25,000 of qualified tips from their income, and up to $12,500 (or $25,000 if filing jointly) from their overtime income. But these deductions phase out for taxpayers with adjusted gr ...