02/04/2026
Hello everyone and happy tax season! 😁While all of you collect your tax documents that are coming in i thought I'd give you some important information:
There is an extra $6,000 standard deduction for ages 65 and older.
If you have overtime you need your last pay stub. Your W2 will not give a break down of overtime pay. That is not required until next year. Qualified overtime does not include holiday overtime. If you are single you cannot claim over $12,500 in overtime pay and for Married filing joint it is $25,000. It also begins to phase out once your income hits $150,000.
If you have unemployment compensation for NYS you need to go into your online account for your statement. It is not usually mailed anymore.
You do not need to prove heath insurance anymore, unless you have a 1095 A form. That needs to be reported for the premium tax credit.
