#federal-income-tax

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#2026-tax-brackets #standard-deduction #inflation-adjustment #new-york #inflation-rebate #state-fiscal-policy
US politics
fromFortune
2 weeks ago

New 2026 tax brackets are here: What higher thresholds and a bigger standard deduction mean for paychecks and the top 1% | Fortune

2026 tax law keeps seven rates, raises income thresholds and standard deductions, modestly reducing taxable income for most households while the 37% top rate applies only at very high incomes.
US politics
fromGothamist
4 weeks ago

You should report Gov. Hochul's 'inflation refund' checks on your taxes

New York's $2 billion inflation rebate is subject to federal income tax and recipients must report it on their 2025 federal tax returns.
US politics
fromAbove the Law
1 month ago

Travis Kelce's And Taylor Swift's Wedding Could Result In A Higher Tax Bill Due To The Marriage Penalty - Above the Law

Marriage can trigger a U.S. federal 'marriage penalty' causing higher taxes or lost deductions for many couples, especially high-income households.
fromSFGATE
2 months ago

1.9 Million Retirees in North Carolina Qualify for the 'Senior Deduction' Under Big, Beautiful Bill

The OBBBA created a deduction specifically for seniors: $6,000 for individuals over age 65 and $12,000 for qualifying couples, increasing the total deductions significantly.
US politics
US politics
fromFast Company
3 months ago

'No Tax on Tips' is now the law: What workers should know about timeline, how paychecks will be impacted

The "No Tax on Tips" provision allows eligible tipped workers to deduct a portion of their income from tips on their federal income taxes.
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