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IRS INFLATION ADJUSTMENTS FOR 2026
The IRS has released the inflation adjustments for the 2026 tax year, reflecting modest increases in income tax brackets, standard deductions, and other key tax thresholds. These changes are designed to protect taxpayers from getting pushed into higher tax brackets despite no real increase in purchasing power. Key Changes for 2026 Here’s a breakdown of…
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2026 TAX DEDUCTIONS AND RETIREMENT PLAN CONTRIBUTION LIMITS
TAX INFLATION ADJUSTMENTS1 The Internal Revenue Service announced the tax year 2026 annual inflation adjustments, including the tax rate schedules and other tax changes. The tax year 2026 adjustments described below generally apply to tax returns filed in 2027. The tax items for tax year 2026 of greatest interest to most taxpayers include the following…
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Avoiding Common Tax Mistakes
What to watch out for and how to stay on track. Whether you’re filing a simple return or navigating more complex deductions and income sources, it’s easy to make costly tax mistakes. Many taxpayers unintentionally overpay, underreport, or set themselves up for IRS scrutiny by overlooking important details. Here are some of the most common…
