The Treasury Department and IRS just clarified that celebrity and character impersonators — including holiday party Santas — qualify for tax breaks under Trump's One, Big, Beautiful Bill https://t.co/I5d3VN5jJO ...

If you plan to sell a home, be sure to follow the rules on tax breaks. Losing them could put a big dent in the profits on one of your biggest investments. 🔗: https://t.co/39s9LvirKN https://t.co/SAnQIQRboT ...

💵TAX CUTS: REFUNDS ARE OVER $750 HIGHER THIS YEAR DUE TO TRUMP TAX CUTSTax refunds are about $775 higher this year for people claiming Trump's new tax breaks, according to the head of the IRSMore than four in 10 returns so far have claimed at least one of the new deductions https://t.co/Q4SP2RMypu ...

Core Insights - Filing taxes early can lead to missed opportunities for tax breaks and credits for middle-class families, as experts warn that rushing can result in incomplete returns and overlooked benefits Group 1: Incomplete Returns - Rushing to file taxes can create a false sense of completeness, leading to inaccurate refunds due to missing forms such as 1099s and K-1s that arrive later [2] - Early filers may skip sections of tax software or fail to update life events that could qualify them for additional benefits [3] Group 2: Overlooked Tax Credits - High-value tax credits, including child and dependent care, education credits, and earned income tax credits, are often overlooked when families file too quickly [4] - Many taxpayers mistakenly assume that credits for children or education apply automatically, but eligibility can be affected by income limits, filing status, or documentation errors [5] - The child and dependent care credit includes qualifying costs beyond traditional daycare, such as after-school programs and summer camps, which are frequently missed [6] Group 3: Retirement Contributions - Certain tax benefits, such as prior year IRA and HSA contributions, remain available only if taxpayers wait to file, as filing early can close these opportunities permanently [7]

New tax breaks could mean a bigger refund — but also more rules.From SALT to tips and overtime, here’s how to make the most of Trump’s new tax law https://t.co/XTF246sGv7 ...

The Forbes Tax Guide offers the help you need to file your 2025 return while dealing with complicated new tax breaks and a dysfunctional IRS.Read more: https://t.co/qt0Leus3O6Illustration: Macy Sinreich for Forbes; Photo: Robert Recker and Igor Vershinsky via Getty Images https://t.co/uFOdqrRhXX ...

RT Teddy the Chihuahua (@TeddyChihuahua)Abbott made a deal with the DOJ to do a case study in 2025 that allowed H1B holders to replace Texans in exchange for Tax Breaks to the Fortune 100 companies. This was in Frisco, Texas. The job loss to Texans was 2500. Texans got pink slips and corporations got tax breaks under the watch of state and federal government. So much for America First. ...

Your 2025 tax return could look different this year thanks to several tax law changes. Before you file this season, don't miss these new deductions, which could make your refund bigger. First up, there's no tax on qualified tips up to $25,000.According to the IRS, more than 6 million workers report tipped wages. And if you're working extra shifts, your first $12,500 in overtime is now tax-free for certain workers. Buy a car last year, you can now deduct up to $10,000 in auto loan interest.Eligible vehicles ...

Core Insights - The IRS is undergoing significant changes in leadership and operational structure, with Frank Bisignano appointed as CEO while retaining his role as commissioner of the Social Security Administration [1] - The 2026 tax season is expected to have unique characteristics due to job cuts and leadership turnover within the IRS in 2025, potentially leading to delays in tax refunds for early filers [2][3] - New tax rules introduced by the One Big Beautiful Bill Act are expected to significantly impact tax refunds, with projections indicating that average refunds could increase substantially for many taxpayers [12][17] IRS Leadership and Structure - Frank Bisignano has been named CEO of the IRS, reporting to Treasury Secretary Scott Bessent, who is currently acting IRS commissioner [1] - The IRS has faced significant job cuts and turnover in leadership, which may affect its operations during the upcoming tax season [2] Tax Season 2026 Expectations - The official start date for the 2026 tax season has not yet been announced, but it is typically revealed in January [4] - Tax experts anticipate a possible delay in the kickoff of the tax season, which could affect the timing of tax refunds for early filers [3] Changes in Tax Refund Processing - The IRS will no longer issue tax refunds by paper check for most individual taxpayers, requiring direct deposit for refunds [5] - Taxpayers will need to file a new Schedule 1-A to claim key tax breaks, which will only be available in finalized form [5][12] New Tax Breaks and Deductions - Significant changes in tax rules for 2025 federal income tax returns include new deductions for overtime pay, tip income, and auto loan interest, which may lead to larger refunds for some taxpayers [11][20] - The new tax breaks come with specific income thresholds and phase-out rules that taxpayers must navigate [20] Projected Refund Changes - The Tax Foundation estimates that average refunds could increase by $300 to $1,000 due to the new tax cuts, potentially raising average refunds to upwards of $4,000 under favorable conditions [17][18] - The IRS has not adjusted withholding tables following the new law, meaning many taxpayers may receive larger refunds at tax filing rather than through increased take-home pay during the year [15] Direct Deposit Requirements - Taxpayers will be required to provide direct deposit information for their refunds, with options available for those without bank accounts [19][21] - Failure to provide direct deposit information may result in delayed refunds, as the IRS will issue paper checks only after certain conditions are met [22][24]

To get tax breaks on their savings, Brits should have to put some of their money into UK companies, writes @hughes_chris (via @opinion) https://t.co/vyZxMNW5GZ ...