- $16,100
Standard deductionFor single filers. $32,200 for married couples filing jointly.
- $40,400
SALT deduction capFor itemizers. Phases down above $505,000 of income.
- $2,200
Child Tax CreditPer child under 17, with up to $1,700 refundable.
- $1,000
Charity without itemizing NewCash gifts to qualifying charities, $2,000 for joint filers.
- $6,000
Senior deductionExtra deduction at 65 and older, through 2028.
- $25,000
Tips and overtimeTips up to $25,000 and overtime up to $12,500 ($25,000 joint) stay deductible through 2028.
- 50%
Child and dependent care credit NewTop credit rate rises from 35%. Workplace care accounts can cover up to $7,500.
- 0.5%
If you itemize NewCharitable gifts count only above 0.5% of income, and the top bracket gets at most a 35% benefit.
- $10,000
Car loan interestOn a new, U.S. assembled vehicle for personal use, through 2028.
- $24,500
401(k) limitPlus $8,000 at 50 or older, or $11,250 at ages 60 to 63. The IRA limit is $7,500.
- $1,000
Trump Accounts NewFederal deposit for children born 2025 through 2028. Contributions up to $5,000 a year.
- $15M
Estate exemptionPer person. The annual gift exclusion stays at $19,000.
- $2,000
1099 threshold NewBusinesses issue 1099-NEC and 1099-MISC for payments of $2,000 or more, up from $600.
- Ended
Energy creditsHome energy and electric vehicle credits are gone for 2026.
- Direct deposit
RefundsThe IRS is phasing out paper refund checks.
- Lower rates
New York StateMiddle class rate cut begins, and the Empire State Child Credit rises to up to $1,000 per child under 4.