12/27/2025
We are at that time of the year again -Tax Season 2026. Important Changes You Should Know
With many new tax law changes, it is more important than ever to work with trusted professionals. The Remedy Tax Services team stays up to date with the latest IRS rules so you can file with confidence and peace of mind.
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2025 Tax Changes & New Rules
Many tax rules changed from 2024 to 2025. Most of these updates come from the One Big Beautiful Bill Act.
Some of these changes may save you money through new deductions and credits.
Let’s take a look 👇
Did you sell crypto or digital assets in 2025?
• There is a new IRS form called Form 1099-DA
• You may receive it if you sold, traded, or used crypto through a broker
• Forms arrive late January or mid-February
• Even if you do not receive the form, you must still report the income
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Did you earn overtime?
• New rule allows a deduction for qualified overtime pay
• Up to $12,500 for single filers
• Up to $25,000 for married filing jointly
• Often called “No Tax on Overtime”
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Did you earn tips?
• Eligible workers can deduct up to $25,000 of tip income
• Applies to many industries including food service, hospitality, and digital creators
• Often called “No Tax on Tips”
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Did you pay state and local taxes (SALT)?
• SALT deduction cap increased to $40,000 from $10,000
• This may make itemizing more beneficial than the standard deduction
• Especially helpful for homeowners in high-tax states
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Are you 65 or older?
• New extra deduction of $6,000 for eligible seniors
• This can lower taxable income
• Social Security tax rules did not change
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Did you receive payments from Venmo, PayPal, Etsy, or eBay?
• You may receive Form 1099-K
• Reporting threshold is back to $20,000 and 200 transactions
• Income must be reported even if you do not receive a form
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Do you have children or dependents?
• Child Tax Credit increased to $2,200 per child
• Adoption Credit now has up to $5,000 refundable
• Credit for other dependents is now permanent
• New Trump Savings Account available for children under 18
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Did you buy a new American-made car?
• You may deduct up to $10,000 of car loan interest
• Applies to qualifying vehicles purchased after December 31, 2024
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Are you self-employed or a business owner?
• 100% bonus deduction for qualifying equipment in 2025
• Applies to machinery, equipment, and technology
• Property must be placed in service on or after January 20, 2025
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Standard Deduction for 2025
• Single or Married Filing Separately: $15,750
• Head of Household: $23,625
• Married Filing Jointly: $31,500
Tax brackets and other limits were also adjusted for inflation.
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New Forms You May Need
• Form 1099-DA for crypto
• Vehicle loan interest statement
• Paystubs for overtime
• W-2 or tip records
• Proof of SALT paid
• Social Security numbers for children
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Some Tax Credits Ending
• Electric Vehicle Credit ended September 30, 2025
• Home Energy Credit ended December 31, 2025
• Premium Tax Credit enhancements end December 31, 2025
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💼 Remedy Tax Services is here to help
We will keep you informed and help you file smoothly and correctly.
📌 Follow our page for more updates
📌 Book early and avoid the rush
Remedy Tax Services
https://remedytaxservices.com
703-212-6630
“I know Mahfuz and his team for so many years. Their Knowledge of tax laws is amazing and build confidence of any person who sits for advice. They are knowledgeable and reliable. So happy to work with them for so many years and will continue in the future. ”
