JB Tax Accounting & Advisory

02/20/2026

Trump Accounts Under the One Big Beautiful Bill Act

OBBBA created Trump Accounts, tax-advantaged investment accounts for kids under 18. Eligible children receive a $1,000 federal seed, with up to $5,000 in annual contributions and tax-deferred growth starting July 2026. Read more below.

https://www.dbhwwealthpartners.com/blog/understanding-trump-accounts-under-theone-big-beautiful-bill-act?utm_campaign=Understanding+Trump+Accounts+Under+the%c2%a0One+Big+Beautiful+Bill+Act&utm_medium=email&utm_source=contacts:all&utm_content=blog+image+link&utm_term=FEB+2026&cmid=bf20a9cf-54f9-416e-8f62-0131523fb4cb

02/06/2026

New Tax Changes in 2026

Several new tax changes passed last year are now in place for your 2026 returns. Here are a few provisions that might make life more affordable for you and your family in this tax season:

Enhanced Standard Deduction
$15,750 for single filers
$31,500 for joint filers

No Tax on Tips
$25,000 maximum deduction
Phases out at $150,000 annual income

No Tax on Overtime
$12,500 maximum deduction for single filers
Phases out at $150,000 annual income

$6,000 Senior Deduction
Low- and Middle-Income seniors, 65+ are eligible
Eliminates tax liability for 88% of Social Security recipients

Permanent, Expanded Child Tax Credit
$2,200 per dependent child

Car Loan Interest Deduction
Up to $10,000 for qualifying, American-made vehicles

School Choice Scholarship Tax Credit
$1,700 tax credit for qualifying K-12 scholarship programs

01/09/2026

The IRS has announced that the 2026 tax-filing season for individual returns will commence on January 26th 2026, and end on April 15th. Electronic filing for business returns will begin earlier on January 13th at 9:00 a.m.

07/13/2023

Big News for WI business's.

Big news! On June 20, 2023, Wisconsin Governor Tony Evers signed Assembly Bill 245 (AB 245), repealing Wisconsin's personal property tax, and certain filing requirements associated with the tax. The repeal takes effect for property tax assessments beginning January 1, 2024. Historically, Wisconsin h...

12/28/2021

The IRS will send Letter 6419 to help taxpayers (with dependents) reconcile and receive all of the Child Tax Credits to which they are entitled starting late December 2021 and continuing into January. The IRS will also begin issuing Letter 6475 listing the amount of your third Economic Impact Payment in late January. YOU WILL NEED THESE LETTERS TO FILE TAXES!

03/18/2021

2020 season extended to May 17th as significant changes to 2020 tax law have been recently signed and in some instances are applied retroactively. The IRS does not recommend filing any amended returns at this time.

IRS extends deadline for 2020 taxes. ...