Available IRS Tax Forms 2025 to Print

New Tax Laws for 2026 – As we approach the new year, understanding the upcoming tax laws for 2026 is crucial for effective financial planning. With the implementation of provisions from the One Big Beautiful Bill Act (OBBBA) and various state-level adjustments, taxpayers can expect shifts in deductions, brackets, and rates. This comprehensive guide breaks down the major federal and state tax changes effective January 1, 2026, drawing from official sources like the IRS and expert analyses. Whether you’re a single filer, a family, or a senior, these updates could affect your 2026 tax return—filed in 2027.

Federal Tax Changes Under the One Big Beautiful Bill Act

The OBBBA, signed into law, introduces several taxpayer-friendly provisions while making some permanent adjustments from previous reforms. Key highlights include increased standard deductions, new above-the-line deductions, and inflation-adjusted tax brackets.

Updated Standard Deductions

For tax year 2026, the standard deduction amounts have been inflated and permanently expanded under OBBBA:

• Single filers and married filing separately: $16,100
• Married filing jointly or qualifying surviving spouses: $32,200
• Heads of households: $24,150

These increases aim to simplify filing by reducing the need to itemize. Seniors aged 65 or older get an additional boost: an extra $6,000 deduction ($12,000 if both spouses qualify), though it phases out for higher incomes.

2026 Federal Income Tax Brackets

The IRS has released inflation-adjusted brackets for 2026, maintaining the seven-tier progressive system. Here’s a breakdown by filing status:

Note: Head of Household brackets are estimated based on standard IRS scaling; confirm with official IRS guidance. These brackets apply to taxable income after deductions, potentially lowering your effective tax rate.

New Deductions and Credits

OBBBA introduces several “no tax on” provisions to reward work and spending:

• Overtime Pay Deduction: Deduct up to $12,500 ($25,000 for joint filers) in qualified overtime earnings, phasing out above $150,000 AGI.
• Tips Deduction: Up to $25,000 in qualified tips for service workers and content creators, with similar phase-outs.
• Vehicle Loan Interest Deduction: Deduct up to $10,000 in interest on loans for new U.S.-assembled vehicles purchased after 2024.
• Adoption Credit: Maximum of $17,670, with up to $5,120 refundable.
• Charitable Contributions: Starting 2026, an above-the-line deduction up to $1,000 for qualifying gifts.

Additionally, the estate tax exclusion rises to $15 million, benefiting high-net-worth individuals. Health-related expansions include HSA compatibility for more plans and permanent telehealth flexibility.

Other Federal Updates

• Remittance Excise Tax: A new 1% tax on cash-based international transfers, collected by providers.
• Trump Accounts: New savings vehicles for children, with federal seed money and tax-advantaged growth.
• Expiring Credits: Clean vehicle and home energy credits end in late 2025.

State Tax Changes for 2026

While federal changes apply nationwide, several states are slashing income taxes to attract residents and businesses. Nine states will implement individual income tax cuts starting January 1, 2026:

• Georgia: Rate drops to 5.09% (from 5.19%), continuing toward 4.99%.
• Indiana: Flat rate to 2.95% (from 3%).
• Kentucky: To 3.5% (from 4%).
• Mississippi: To 4% (from 4.4%), with plans for further reductions.
• Montana: Top rate to 5.65% (from 5.9%), expanding lower brackets.
• Nebraska: To 4.55% (from 5.2%).
• North Carolina: Flat rate to 3.99% (from 4.25%).
• Ohio: Flat 2.75% for income over $26,050 (from 3.125%).
• Oklahoma: Top rate to 4.5% (from 4.75%), consolidating brackets.

Other states may have increases, such as Hawaii’s transient accommodations tax rising to 11%. Check your state’s department of revenue for specifics.

How These 2026 Tax Laws Affect You and Preparation Tips

These changes could mean bigger refunds for many, especially workers with overtime or tips, families adopting, or buyers of American-made cars. However, expiring clean energy credits might accelerate purchases in 2025.

To prepare:

• Review your withholding using the IRS Tax Withholding Estimator.
• Consult a tax professional for personalized advice.
• Track new forms like 1099-DA for crypto or 1098-VLI for vehicle loans.

Staying informed on these new tax laws for 2026 ensures you maximize benefits and avoid surprises. For the latest updates, visit IRS.gov or your state’s tax site.

New Gold and Silver Tax Rules for 2026 – As precious metals like gold and silver continue to attract investors seeking hedges against inflation and economic uncertainty, understanding the tax implications is crucial. With 2026 approaching, several updates to gold and silver tax rules are set to take effect, primarily at the state level, while federal capital gains treatment remains largely consistent but influenced by broader tax bracket shifts. This guide breaks down the key changes, drawing from reliable sources like the IRS, Tax Foundation, and state revenue departments, to help you navigate these developments.

Federal Capital Gains Tax on Gold and Silver in 2026

At the federal level, physical gold and silver bullion, coins, and certain ETFs backed by precious metals are classified as “collectibles” under IRS rules. Long-term capital gains (assets held over one year) on these collectibles are taxed at a maximum rate of 28%, or your ordinary income tax rate if it’s lower. This structure has been in place since 1997 and isn’t changing specifically for 2026.

However, the expiration of the Tax Cuts and Jobs Act (TCJA) at the end of 2025 will cause individual income tax brackets to revert to pre-2018 levels starting in 2026. This means higher ordinary tax rates overall: for single filers, brackets will be 10%, 15%, 25%, 28%, 33%, 35%, and 39.6%. For collectible gains, if your marginal ordinary rate is below 28% (e.g., in the 15% or 25% bracket), you’ll pay that lower rate on gold or silver profits. If it’s 28% or higher, the cap remains at 28%.

Additionally, high-income earners may face the 3.8% Net Investment Income Tax (NIIT) on collectible gains if modified adjusted gross income exceeds $200,000 (single) or $250,000 (married filing jointly). Short-term gains (held under one year) are taxed as ordinary income, which could reach up to 39.6% in 2026 for top earners.

For paper investments like gold or silver mining stocks or non-physically backed ETFs, standard long-term capital gains rates apply: 0%, 15%, or 20%, depending on income. The 2026 thresholds for these will adjust: 0% for taxable income up to $49,450 (single), 15% up to $553,850, and 20% above that.

Major State-Level Gold and Silver Tax Changes in 2026

While federal rules see indirect shifts from bracket changes, states are implementing direct updates to sales taxes on precious metals, affecting buyers of gold and silver bullion and coins.

Washington State’s New Sales Tax on Precious Metals

Starting January 1, 2026, Washington will repeal its long-standing sales tax exemption on precious metal bullion and monetized bullion, including gold and silver bars, coins, and rounds. Retail purchases will now face the full state sales tax rate of about 6.5%, plus local taxes, potentially totaling 8-10% depending on the location. Wholesale transactions to resellers remain exempt, but consumers buying for investment will pay up.

This change also includes a Business & Occupation (B&O) tax on retailers’ gross income from these sales at 0.471%. Experts warn this could drive buyers to neighboring states like Oregon or Idaho, where exemptions persist. If you’re in Washington, consider making large purchases before the end of 2025 to avoid the new tax.

New Jersey’s Sales Tax Elimination

In positive news for investors, New Jersey’s Senate Bill 721 will eliminate sales tax on investment-grade precious metal bullion and coins starting in 2026, making it more attractive for buyers in the state. This aligns New Jersey with over 40 other states that offer full or partial exemptions.

Other states like Arkansas, Kentucky, and Wisconsin maintain exemptions, while California and New York impose sales tax on smaller purchases but exempt larger ones. Check your state’s rules, as 2026 brings broader tax reforms in 43 states overall.

IRA and Retirement Account Considerations for Gold and Silver

Self-directed IRAs can hold physical gold and silver, offering tax-deferred growth. For 2026, traditional and Roth IRA contribution limits rise to $7,500 ($8,600 if age 50+). Gains within the IRA aren’t taxed until withdrawal, bypassing the 28% collectibles rate. However, early withdrawals face penalties, and required minimum distributions (RMDs) apply to traditional IRAs.

How to Prepare for 2026 Gold and Silver Tax Changes?

To optimize your strategy:

• Review Holdings: Calculate potential capital gains using 2026 brackets and consult a tax advisor.
• Time Purchases: Washington residents should buy before January 1, 2026, to avoid sales tax.
• Diversify: Consider non-collectible assets like mining stocks for lower tax rates.
• Stay Informed: Monitor federal legislation, as Congress could extend TCJA provisions.

By understanding these gold tax 2026 and silver tax 2026 updates, investors can make informed decisions to minimize liabilities and maximize returns in an evolving tax landscape.

2026 IRS Standard Mileage Rates – In the world of tax deductions and reimbursements, the IRS standard mileage rate plays a crucial role for businesses, self-employed individuals, and anyone tracking vehicle expenses. As we head into 2026, the Internal Revenue Service (IRS) has released updated rates that reflect changes in fuel costs, vehicle maintenance, and other variable expenses. Whether you’re a freelancer logging business miles, a volunteer driving for charity, or an active-duty military member relocating, understanding these rates can help maximize your deductions or reimbursements.

This article breaks down the 2026 mileage rates, compares them to 2025, explains how to apply them, and covers alternatives like actual expense tracking. We’ll also touch on related rates from the General Services Administration (GSA) for federal employees. All information is sourced from official announcements to ensure accuracy and reliability.

What Are IRS Standard Mileage Rates?

The IRS standard mileage rate is an optional deduction method that simplifies calculating vehicle-related expenses for tax purposes. Instead of tracking every receipt for gas, repairs, and depreciation, taxpayers can multiply their qualifying miles by the applicable rate. These rates are updated annually based on studies of fixed and variable costs, such as fuel, insurance, and wear and tear.

The rates apply to various categories:

• Business use: For self-employed individuals, employees, or business owners driving for work.
• Medical purposes: For trips to receive medical care.
• Moving purposes: Limited to active-duty members of the Armed Forces and certain intelligence community members.
• Charitable purposes: For volunteer work with qualified organizations.

These rates are effective for miles driven starting January 1, 2026, and apply to electric, hybrid, gasoline, and diesel vehicles alike.

2026 IRS Mileage Rates Breakdown

Here are the official IRS standard mileage rates for 2026:

• Business Rate (72.5 cents per mile): This increase accounts for rising costs in vehicle operation, including a bump in the depreciation component from 33 cents in 2025 to 35 cents in 2026. It’s ideal for gig economy workers, salespeople, or anyone deducting business travel.
• Medical and Moving Rates (20.5 cents per mile): These rates, based solely on variable costs like fuel and maintenance, saw a slight decrease. Moving deductions are restricted to qualifying military and intelligence personnel.
• Charitable Rate (14 cents per mile): Set by federal statute, this rate remains steady and applies to miles driven for eligible nonprofit activities.

Note: If you’re using the standard rate for business, you can’t also deduct actual expenses like parking fees or tolls separately—those must be added on top.

How Do the 2026 Rates Compare to Previous Years?

The 2026 updates show mixed adjustments:

• Business rates have been trending upward, from 70 cents in 2025 to 72.5 cents now, reflecting inflation in auto costs.
• Medical and moving rates dipped slightly from 21 cents in 2025, possibly due to stabilized fuel prices.
• Charitable rates haven’t changed since 1997, as they’re fixed by law.

For context, here’s a quick historical glance:

These adjustments are informed by annual IRS studies, ensuring they align with real-world expenses.

GSA Mileage Rates for 2026: For Federal Employees

If you’re a federal employee or contractor, the General Services Administration (GSA) sets privately owned vehicle (POV) reimbursement rates, which often align closely with IRS figures. Effective January 1, 2026:

• Automobile (if no government vehicle available): 72.5 cents per mile
• Automobile (if government vehicle available): 20.5 cents per mile
• Motorcycle: 70.5 cents per mile
• Airplane: $1.78 per mile (converted from nautical miles)
• Moving purposes: 20.5 cents per mile

These rates are used for official travel and relocation, providing a benchmark for government-related reimbursements.

How to Use the 2026 Mileage Rates for Tax Deductions?

To claim these deductions:

1. Track Your Miles: Use apps like MileIQ or a simple logbook to record dates, purposes, and odometer readings.
2. Choose Your Method: Opt for the standard rate or itemize actual expenses (e.g., gas, repairs)—whichever is higher. Once chosen for a vehicle, you must stick with it for the year.
3. File Accordingly: Report on Schedule C (business), Form 2106 (employees), or Schedule A (medical/charitable).
4. Special Rules: For business use over 50% of total miles, additional depreciation rules apply.

Always consult a tax professional, as rules can vary by situation. The IRS emphasizes that these rates don’t apply to fleet operations with five or more vehicles.

Standard Mileage vs. Actual Expenses: Which Is Better?

While the standard rate simplifies things, calculating actual expenses might yield bigger deductions if you have high costs (e.g., expensive repairs or low-mileage efficiency). Factor in:

• Depreciation
• Insurance
• Fuel and oil
• Repairs and tires

Run the numbers both ways—many tax software programs can help compare.

Final Thoughts on 2026 Mileage Rates

The 2026 IRS mileage rates offer a straightforward way to handle vehicle deductions amid fluctuating costs. With business rates up and medical/moving slightly down, taxpayers should review their driving habits to optimize savings. Stay updated via the official IRS website, as rates can be adjusted mid-year in rare cases.

For the most accurate advice, reach out to a certified accountant or visit irs.gov. Planning ahead with these rates can make tax season smoother and more rewarding.

Michigan Gas Tax Increase 2026 – As Michigan rings in the new year, drivers across the state are facing changes to how fuel is taxed. Starting January 1, 2026, the Michigan gas tax increase will reshape fuel pricing and road funding. This article breaks down the details of the 2026 Michigan fuel tax changes, including the new rates, why it’s happening, and what it means for your wallet at the pump. Whether you’re a daily commuter in Detroit or a road-tripper heading to the Upper Peninsula, understanding these updates is essential for budgeting and planning.

Understanding the Michigan Gas Tax Increase for 2026

The core of the Michigan gas tax increase 2026 involves a shift from the previous taxation model. Previously, Michigan imposed a 31 cents per gallon excise tax on gasoline and diesel, plus a 6% sales tax on the total purchase price. Effective January 1, 2026, the state is eliminating the 6% sales tax and replacing it with a higher flat-rate fuel tax of 52.4 cents per gallon for both gasoline and diesel fuel.

This isn’t a straightforward hike; it’s a restructuring designed to stabilize revenue for infrastructure. The new rate is calculated based on a base of 51 cents per gallon, adjusted for inflation. For 2026, the inflation rate was determined to be 2.7% (based on the Consumer Price Index for Urban Consumers from October 2024 to September 2025), resulting in 51 cents multiplied by 1.027, rounded up to 52.4 cents per gallon. This annual adjustment is capped at 5% to prevent sharp spikes in future years.

The elimination of the sales tax means that fuel prices won’t fluctuate as much with market changes. Under the old system, higher gas prices meant higher sales tax revenue (and cost to consumers), but now the tax is fixed per gallon, providing predictability.

Why Is the Michigan Gas Tax Increasing in 2026?

The primary driver behind the Michigan gas tax increase 2026 is to boost funding for the state’s crumbling roads and bridges. Michigan has long struggled with infrastructure maintenance, and this change is part of a $2 billion road funding deal signed into law by Governor Gretchen Whitmer in October 2025. The new structure is expected to generate an additional $1 billion annually dedicated specifically to transportation projects.

Under the updated allocation:

• 98% of the tax revenue goes to the Michigan Transportation Fund, distributed as follows:
  • 34.4% to the State Trunkline Fund for state highways.
  • 34.4% to counties for local roads.
  • 19.2% to cities and villages.
  • 9.8% to the Comprehensive Transportation Fund for public transit.
• The remaining 2% supports the Recreation Improvement Account for local parks and recreation projects.

This shift ensures that every penny collected at the pump goes directly to roads, unlike the previous sales tax, which primarily funded schools and local governments. Lawmakers argue this creates a more efficient and targeted approach to addressing Michigan’s infrastructure needs, which have been a hot-button issue for years.

Historically, Michigan’s fuel tax was last significantly adjusted in 2015, when it was set to increase annually with inflation. The 6% sales tax on fuel dated back to 1994 and couldn’t be raised without a constitutional amendment, limiting flexibility. The 2026 changes build on these foundations, moving away from a volatile percentage-based tax to a stable, inflation-adjusted flat rate.

Impact on Gas Prices: How Much Will Michigan Drivers Pay More?

One of the most pressing questions for Michigan residents is: How will the 2026 gas tax increase affect prices at the pump? The net impact is relatively modest. According to the Michigan Department of Treasury, the average increase will be about 1.4 cents per gallon. This is because the removal of the 6% sales tax offsets much of the 21.4-cent excise tax hike (from 31 to 52.4 cents).

For context, if gas is priced at $3 per gallon pre-tax:

• Old system: 31 cents excise + 6% sales tax (about 18 cents) = total state tax of 49 cents.
• New system: 52.4 cents flat tax.
• Net increase: Around 3.4 cents per gallon at this price point.

However, the actual increase varies with base gas prices. When prices are low (e.g., $2 per gallon), the new flat tax feels more burdensome compared to the old sales tax (which would have been about 12 cents). Conversely, at higher prices (e.g., $4 per gallon), the flat tax could result in savings. As of late December 2025, the average price for regular unleaded in Michigan was around $2.81 per gallon, so drivers might see a slight uptick.

Experts like Patrick DeHaan from GasBuddy note that while the change isn’t a “major hit,” it could add up for heavy drivers, especially with recent price fluctuations. For a driver filling up a 15-gallon tank weekly, the annual extra cost might be around $10–$20, depending on exact prices.

Effects on Electric Vehicles and Hybrids

The Michigan gas tax increase 2026 isn’t just for traditional vehicles. Electric vehicles (EVs) and plug-in hybrids, which don’t use gasoline, will see higher registration fees to ensure they contribute to road funding. A surcharge tied to fuel tax changes will rise:

• EVs: An additional $105 on top of the existing $60 surcharge.
• Plug-in hybrids: An extra $52 on the $30 surcharge.

These adjustments are projected to bring in $11 million more for transportation. This move addresses the “free rider” concern, as EVs benefit from roads without paying fuel taxes.

What Michigan Drivers Should Expect Moving Forward?

As the Michigan fuel tax changes take effect in 2026, monitor gas prices closely in the early weeks of January. Stations may adjust quickly, but the overall impact should be minimal for most consumers. Long-term, the inflation adjustments mean the tax will likely rise each year—starting from a higher base of 52.4 cents, future increases could be more noticeable than in the past.

If you’re concerned about costs, consider fuel-efficient vehicles, carpooling, or public transit options bolstered by the new funding. For the latest updates, check official sources like the Michigan Department of Treasury or MDOT.

In summary, the Michigan gas tax increase 2026 prioritizes road repairs while keeping consumer impacts low through smart restructuring. By directing funds efficiently, the state aims to improve infrastructure for all residents. Stay informed, and drive safely into the new year.

Michigan Gas Tax 2026 – As Michigan drivers prepare for the new year, significant updates to the state’s fuel taxation system are set to take effect on January 1, 2026. These modifications aim to streamline how gas taxes are collected while ensuring steady funding for road repairs and infrastructure. If you’re searching for details on the Michigan gas tax 2026, including rate increases, calculations, and impacts on your wallet, this comprehensive guide covers it all using data from official state sources.

What Is the New Michigan Gas Tax Rate for 2026?

Starting January 1, 2026, Michigan’s motor fuel tax rate will increase to 52.4 cents per gallon for gasoline, diesel fuel, and alternative fuels like LPG. This represents a shift from the 2025 rate of 31 cents per gallon. Importantly, the state is eliminating the 6% sales tax previously applied to fuel purchases, replacing it with this flat, inflation-adjusted excise tax.

This change effectively incorporates the average sales tax contribution (around 21 cents per gallon at typical gas prices) into a single, predictable rate. For context, if gas costs $3.50 per gallon, the old 6% sales tax added about 21 cents—making the new system a restructuring rather than a pure hike.

Why Is the Michigan Gas Tax Changing in 2026?

The primary goal of the 2026 Michigan fuel tax update is to simplify taxation and reduce volatility. Under the previous system, fuel prices fluctuated with market conditions, causing the 6% sales tax to vary. By moving to a fixed cents-per-gallon model, the state creates a more stable revenue stream for transportation needs.

This reform stems from Public Act 20 of 2025, which amends MCL 207.1008 to establish a new base rate with annual inflation adjustments. Officials emphasize that this isn’t designed as a price increase but as a modernization to better support Michigan’s infrastructure without relying on price-sensitive sales taxes.

How Is the 2026 Michigan Gas Tax Rate Calculated?

The calculation for the 2026 rate follows a structured formula outlined in state law:

• Base Rate: 51.0 cents per gallon.
• Inflation Adjustment: The rate is multiplied by 1 plus the lesser of 5% or the actual inflation rate, then rounded up to the nearest tenth of a cent.
• Inflation Rate Determination: Based on the Consumer Price Index for Urban Consumers (CPI-U). For 2026, it compares average CPI-U from October 2023–September 2024 to October 2024–September 2025, yielding a 2.7% inflation rate (below the 5% cap).
• Final Math: 51.0 cents × 1.027 = 52.377 cents, rounded to 52.4 cents per gallon.

This process ensures the tax keeps pace with economic changes without excessive jumps.

Impact on Michigan Drivers and Gas Prices in 2026

For consumers, the shift could mean slightly higher per-gallon costs at the pump, depending on fuel market prices. With the sales tax removed, the net increase is equivalent to about 21 cents per gallon—potentially adding $10–$15 to the cost of filling a 50-gallon tank. However, if gas prices drop, drivers might see overall savings compared to the variable sales tax era.

On the positive side, this revenue bolsters Michigan’s roads, which have long needed repairs. Critics argue it places a heavier burden on lower-income households reliant on vehicles, but proponents highlight the long-term benefits of improved infrastructure reducing vehicle maintenance costs.

How Are Michigan Gas Tax Funds Used?

Nearly all (98%) of the motor fuel tax revenue flows into the Michigan Transportation Fund (MTF), distributed as follows:

• 34.4% to state highways.
• 34.4% to county roads.
• 19.2% to cities and villages.
• 9.8% to public transit via the Comprehensive Transportation Fund.
• 2% to the Recreation Improvement Account for local projects.

This allocation ensures widespread benefits, from pothole fixes in Detroit to bridge maintenance in rural areas.

Historical Context of Michigan Gas Tax Rates

Michigan’s gas tax has evolved significantly since 2017. Here’s a breakdown of excise rates (excluding the former sales tax):

• 2017–2021: 26.3 cents per gallon.
• 2022: 27.2 cents per gallon.
• 2023: 28.6 cents per gallon.
• 2024: 30.0 cents per gallon.
• 2025: 31.0 cents per gallon.
• 2026: 52.4 cents per gallon.

The 2026 jump reflects the integration of sales tax into the excise structure.

FAQs About Michigan Gas Tax 2026

Will the Michigan gas tax increase again after 2026?

Yes, the rate will be adjusted annually for inflation, capped at 5%.

Does this affect electric vehicles?

No, the tax applies to motor fuels like gasoline and diesel. EV owners pay separate registration fees to contribute to road funding.

How does Michigan’s 2026 gas tax compare to other states?

At 52.4 cents, it will rank among the higher in the U.S., though states like California (over 60 cents) and Pennsylvania (around 58 cents) are higher. Check federal tax admin resources for comparisons.

Can I deduct Michigan gas taxes on my taxes?

Businesses and certain individuals may qualify for refunds or credits; consult the Michigan Department of Treasury for details.

In summary, the Michigan gas tax 2026 changes represent a pivotal shift toward sustainable infrastructure funding. While drivers may notice a bump at the pump, the long-term gains in road quality could outweigh the costs. Stay informed by visiting official state websites for any updates.

IRS Tax Refunds 2026 – As we approach the 2026 tax filing season for the 2025 tax year, many Americans are eager to understand how IRS tax refunds will work this year. With recent legislative changes like the One Big Beautiful Bill Act (OBBBA), refunds could be significantly larger—potentially adding $1,000 to $2,000 per household on average. This guide covers the latest on IRS tax refund schedules for 2026, key tax law updates, how to check your status, and tips to get your money faster. Whether you’re filing early or dealing with potential delays, staying informed can help you navigate the process smoothly.

Key Changes for the 2025 Tax Year Impacting 2026 Refunds

The 2025 tax year brings several updates that could boost your refund amount when filing in 2026. These stem primarily from the OBBBA and inflation adjustments announced by the IRS. Here’s a breakdown:

• Increased Standard Deductions: For married couples filing jointly, the standard deduction rises to $31,500 (up from previous years). Singles and married filing separately see an increase to about half that amount, with additional “bonus” deductions for those aged 65 and older—up to $6,000 extra through 2028.
• Child Tax Credit Boost: The credit permanently increases to $2,200 per qualifying child under 17, with annual inflation adjustments starting in 2025.
• Other Deductions and Credits: Seniors get enhanced benefits, and there’s no change to individual information returns or withholding tables under OBBBA. Business mileage rates rise by 3 cents per mile, and the maximum deduction for certain expenses is reduced for high-income earners (over $500,000 modified AGI).
• Potential for Larger Refunds: Due to OBBBA’s tax cuts, excess withholding from paychecks could lead to “very large” refunds, estimated at $100-150 billion total in early 2026.

These changes aim to provide relief for working families and seniors, but they may require adjustments to your withholding now—use the IRS Tax Withholding Estimator to avoid surprises.

IRS Tax Refund Schedule 2026: When Will You Get Your Money?

The IRS typically begins accepting returns in late January, with the 2026 season expected to start around January 26. Most refunds are issued within 21 days of e-filing with direct deposit, but timelines vary based on filing date, method, and any reviews. Paper filings can take 6 weeks or more.

Here’s an estimated 2026 tax refund calendar based on IRS guidelines and expert projections (note: actual dates may shift; check IRS.gov for updates):

For claims like the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC), refunds may be delayed until mid-February or later due to mandatory holds. Larger refunds from OBBBA could appear as early as March 3 for many filers. Remember, you have three years to claim a refund, but filing early maximizes your chances of quick processing.

How to File Your 2025 Taxes for a Faster 2026 Refund?

To get your IRS tax refund in 2026 as quickly as possible:

• E-File and Direct Deposit: This combo is the fastest—refunds in as little as 21 days. Split your refund into up to three accounts, including savings or IRAs.
• Avoid Paper: The IRS is phasing out paper refund checks starting in 2025, so opt for electronic methods to prevent delays.
• Gather Documents Early: Use the IRS’s “Get Ready” checklist: Collect W-2s, 1099s, and prior returns. Update your withholding if needed.
• File Accurately: Errors can trigger reviews, extending processing to 6 months for complex cases like amended returns or nonresident filings.

Pro tip: If you’re expecting a $2,000 direct deposit rumor—it’s not a guaranteed payment; it’s tied to your individual refund calculation.

How to Check Your IRS Tax Refund Status in 2026?

Tracking your refund is straightforward with IRS tools:

• Where’s My Refund?: Available 24 hours after e-filing. Enter your SSN, filing status, and exact refund amount. It covers the current year and the past two.
• For Amended Returns: Use “Where’s My Amended Return?”—status appears in 3 weeks, processing up to 16 weeks.
• Phone Options: Call 800-829-1954 for refunds or 866-464-2050 for amended returns.
• Online Account: Log in to IRS.gov for detailed status and address updates.

If your refund is delayed, check for issues like debt offsets or errors.

Common Reasons for Delays or Reduced Tax Refunds in 2026

Not all refunds arrive on time or in full. Here are frequent culprits:

• Refund Offsets: The Treasury Offset Program (TOP) can reduce your refund for debts like child support, federal loans, or state taxes. You’ll get a notice from the Bureau of the Fiscal Service (BFS)—contact them at 800-304-3107 if you dispute it.
• Injured Spouse Claims: If filing jointly and your spouse’s debt affects your share, file Form 8379 to claim your portion. Processing takes 8-14 weeks.
• Reviews and Errors: Claims for EITC/ACTC, paper filings, or inaccuracies can add weeks or months.
• Large Refunds: Over $2 million require extra verification.

If you don’t receive a notice, call BFS to check for offsets.

Tips to Maximize Your IRS Tax Refund in 2026

To make the most of your 2025 return:

• Claim all eligible credits and deductions, including the expanded Child Tax Credit and senior bonuses.
• Contribute to retirement accounts for potential deductions.
• Track charitable donations, medical expenses, and education costs.
• Use tax software or a professional for accuracy.
• Adjust withholding early in 2026 to balance refunds vs. interest-earning savings.

Stay updated via IRS Tax Tips subscriptions.

In summary, with OBBBA-driven changes, 2026 could be a banner year for tax refunds. File electronically, opt for direct deposit, and monitor your status to ensure a smooth experience. For personalized advice, consult a tax professional or visit IRS.gov.

The IRS mileage rate for 2026 has been officially announced, providing key updates for taxpayers who deduct vehicle expenses for business, medical, moving, or charitable purposes. These standard mileage rates offer a simplified way to calculate deductions without tracking every single cost associated with operating a vehicle. In this article, we’ll break down the 2026 IRS mileage rates, compare them to 2025, explain who can use them, and discuss alternatives like actual expense deductions. Whether you’re a self-employed professional, a charitable volunteer, or an active-duty military member, understanding these rates can help maximize your tax savings.

What Are the IRS Standard Mileage Rates?

The IRS sets optional standard mileage rates each year based on studies of vehicle operating costs. These rates apply to the use of cars, vans, pickups, or panel trucks. For 2026, the rates reflect adjustments for fuel prices, maintenance, and other variable factors. Importantly, these rates are effective starting January 1, 2026, and apply to miles driven during the calendar year.

Here’s a quick overview of the 2026 rates in a table for easy reference:

These adjustments are designed to align with economic conditions, with the business rate increasing due to higher overall operating costs.

2026 IRS Business Mileage Rate

The most commonly used rate is for business purposes, which applies to self-employed individuals, freelancers, and employees who use their personal vehicles for work-related travel (if not reimbursed by their employer). For 2026, the IRS business mileage rate is 72.5 cents per mile, an increase of 2.5 cents from the 2025 rate of 70 cents per mile. This rate covers all miles driven for business, including travel to client meetings, job sites, or supply runs.

This rate applies equally to gasoline, diesel, hybrid, and fully electric vehicles, making it inclusive for modern fleets. If you’re tracking business mileage, tools like mileage logs or apps can help ensure accurate deductions on your tax return.

2026 IRS Medical and Moving Mileage Rates

For medical purposes, such as driving to doctor’s appointments or pharmacies, the 2026 rate is 20.5 cents per mile, down 0.5 cents from 21 cents in 2025. This rate is based solely on variable costs like fuel and oil, as determined by the IRS’s annual study.

The moving mileage rate for 2026 is also 20.5 cents per mile, matching the medical rate and reflecting a 0.5-cent decrease from 2025. However, this deduction is limited to qualified individuals: active-duty members of the Armed Forces (and, new for 2026, certain members of the intelligence community) who are moving due to a permanent change of station. General taxpayers cannot claim moving expenses under the standard rate unless they meet these specific criteria.

2026 IRS Charitable Mileage Rate

If you volunteer for a qualified charitable organization and use your vehicle for related activities, such as delivering meals or transporting goods, the 2026 charitable mileage rate remains at 14 cents per mile—unchanged from 2025. Unlike the other rates, this one is set by federal statute and does not fluctuate annually based on cost studies.

How to Use the IRS Mileage Rates for Deductions?

Using the standard mileage rates is optional and simplifies tax filing by avoiding the need to itemize every expense. To qualify:

• For owned vehicles used in business, you must elect the standard rate in the first year the vehicle is placed in service. In subsequent years, you can switch to actual expenses if beneficial.
• For leased vehicles, if you choose the standard rate, you must stick with it for the entire lease term, including renewals.

Taxpayers always have the option to deduct actual vehicle expenses instead, which include gas, oil, repairs, insurance, depreciation, and more. This method requires meticulous record-keeping but may yield higher deductions if your costs exceed the standard rate. Consult a tax professional to determine the best approach for your situation.

Additionally, the IRS provides special rules in Notice 2026-10, including maximum vehicle costs for certain reimbursement plans and fair market value limits for employer-provided cars.

Why Do IRS Mileage Rates Change Annually?

The business rate is derived from an annual study of both fixed (e.g., depreciation, insurance) and variable (e.g., fuel, maintenance) costs of operating a vehicle. Medical and moving rates consider only variable costs, while the charitable rate is fixed by law. These updates ensure the rates remain relevant amid fluctuating economic factors like inflation and energy prices.

Final Thoughts on the 2026 IRS Mileage Rate

The 2026 IRS mileage rates offer a straightforward option for deducting vehicle-related expenses, with a notable increase in the business rate to 72.5 cents per mile. While medical and moving rates saw a slight decrease, the charitable rate holds steady. Staying informed about these changes can help you plan your taxes effectively and avoid surprises come filing time. For the most accurate advice, refer to official IRS resources or a qualified tax advisor.

IRS Annual Gift Limit 2026 – In the world of estate planning and financial gifting, understanding the IRS annual gift limit is crucial for avoiding unnecessary taxes. For 2026, the IRS has announced key updates to tax thresholds, including the annual gift tax exclusion. This guide breaks down the 2026 IRS annual gift limit, how it compares to previous years, and what it means for your gifting strategy. Whether you’re planning holiday gifts, supporting family members, or managing your estate, staying informed can help you make tax-smart decisions.

What Is the IRS Annual Gift Limit?

The IRS annual gift limit, officially known as the annual gift tax exclusion, refers to the maximum amount you can give to an individual in a single year without triggering gift tax reporting or liability. This exclusion applies per recipient and per donor, meaning you can gift the limit amount to multiple people without issues.

Gifts exceeding this limit may require filing Form 709 (United States Gift and Generation-Skipping Transfer Tax Return), but they don’t necessarily incur immediate taxes. Instead, excess amounts count toward your lifetime gift and estate tax exemption. Note that certain gifts, like those for education or medical expenses paid directly to providers, are exempt from this limit altogether.

The 2026 IRS Annual Gift Tax Exclusion Amount

For tax year 2026, the annual gift tax exclusion remains at $19,000 per recipient. This is unchanged from the 2025 limit, reflecting adjustments based on inflation calculations by the IRS. For married couples, this effectively doubles to $38,000 per recipient if both spouses agree to “split” the gift.

Key points about the 2026 limit:

• Applies to each donee: You can give $19,000 to as many individuals as you like without reporting.
• Spousal considerations: Unlimited gifts to U.S. citizen spouses are tax-free. For non-citizen spouses, the annual limit is higher at $195,000 for 2026 (adjusted for inflation).
• Inflation adjustments: The IRS reviews these limits annually, but no increase was applied for 2026 due to economic factors.

This stability provides predictability for estate planners, especially with the looming expiration of certain Tax Cuts and Jobs Act provisions at the end of 2025, which could halve the lifetime exemption in 2026 unless extended.

How Does the 2026 Limit Compare to Previous Years?

The annual gift tax exclusion has steadily increased in recent years to account for inflation. Here’s a quick comparison:

Source: IRS official guidelines. The plateau from 2025 to 2026 marks the first time in several years without an increment, potentially signaling moderated inflation pressures.

Related 2026 Tax Updates: Lifetime Gift and Estate Tax Exemption

While the annual exclusion holds steady, the lifetime gift and estate tax exemption sees a significant bump. For 2026, this exemption increases to $15 million per individual (or $30 million for married couples). This is up from $13.99 million in 2025, offering more room for larger transfers without federal estate or gift taxes.

However, be aware that this enhanced exemption is set to sunset after 2025 under current law, potentially dropping to around $7.5 million (adjusted for inflation) in 2026 if not renewed by Congress. High-net-worth individuals should consult a tax advisor to strategize around this.

Implications for Gifting in 2026

Staying within the $19,000 limit per person helps simplify your taxes, but exceeding it isn’t always a problem if you have lifetime exemption available. Common scenarios include:

• Family support: Gifting to children or grandchildren for down payments, education, or weddings.
• Charitable giving: Donations to qualified charities are fully deductible and don’t count toward gift limits.
• Business transfers: Gifts of business interests may qualify for valuation discounts, maximizing the exclusion.

If your total gifts to one person exceed $19,000, track them carefully. Only the amount over the limit reduces your lifetime exemption. State gift taxes may also apply in some jurisdictions, so check local rules.

How to Report Gifts Over the Limit?

If you surpass the annual exclusion:

1. File Form 709 by April 15 of the following year (or October 15 with an extension).
2. Report the excess, which applies against your lifetime exemption.
3. No tax is due until your cumulative gifts exceed the lifetime limit.

The IRS provides detailed instructions on their website for compliance.

Frequently Asked Questions About the 2026 IRS Gift Limit

• Does the limit apply to cash only? No, it includes cash, property, stocks, or any “present interest” gift.
• What about gifts to minors? Use a custodial account or trust to ensure it qualifies as a present interest.
• Can I front-load gifts? Yes, techniques like 529 plan contributions allow up to five years’ worth ($95,000 in 2026) in one year, treated as spread out.

For personalized advice, consult a certified tax professional.

Final Thoughts on the 2026 IRS Annual Gift Limit

The 2026 IRS annual gift limit of $19,000 offers continued opportunities for tax-free wealth transfer. With no change from 2025, it’s a stable environment for planning, but keep an eye on potential legislative changes affecting the lifetime exemption. By understanding these rules, you can gift generously while minimizing tax burdens.

Stay updated by visiting the official IRS website or subscribing to tax newsletters.

IRS Announces Gigantic Tax Refunds for 2026 – In a major boost for American taxpayers, the IRS is gearing up for what could be the largest tax refund season in history. Thanks to recent tax cuts under President Donald Trump’s One Big Beautiful Bill Act (OBBBA), millions of households are expected to receive significantly larger refunds when filing their 2025 taxes in early 2026. This “gigantic” tax refund announcement has generated buzz among working families, seniors, and middle-class Americans looking for financial relief amid economic pressures. If you’re wondering how these changes affect your IRS tax refund, this guide breaks down the details using insights from trusted sources.

What Is the IRS Gigantic Tax Refund Announcement?

The excitement stems from the OBBBA, signed into law in July 2025 and applied retroactively to the start of the year. Treasury Secretary Scott Bessent, who also serves as acting IRS commissioner, described the upcoming refund season as “gigantic” during a recent podcast appearance. He explained that many taxpayers didn’t adjust their withholdings after the tax cuts, leading to overpayments that will be returned as refunds.

According to the nonpartisan Tax Foundation, the OBBBA reduces individual income taxes by a staggering $144 billion for 2025 alone. Up to $100 billion of this could translate directly into higher refunds, as the IRS did not update withholding tables post-legislation. President Trump has touted this as the “largest tax refund season of all time,” promising relief for over 94% of middle-class Americans.

While the IRS newsroom hasn’t issued a standalone press release on refunds, updates related to the OBBBA and associated tax provisions confirm the broader impact on 2025 filings. This means taxpayers will see the benefits primarily when they file, rather than in their paychecks.

Key Details of the Tax Cuts Driving These Gigantic Refunds

The OBBBA introduces several taxpayer-friendly changes designed to lower tax burdens. Here’s a breakdown of the main provisions:

• Increased Child Tax Credit: The maximum credit rises by $200 per qualifying child, benefiting families with dependents.
• Higher Standard Deduction: Single filers get an extra $750, while joint filers receive $1,500, reducing taxable income for most Americans.
• Raised SALT Deduction Cap: The state and local tax deduction limit jumps to $40,000 for those earning under $500,000, helping residents in high-tax states.
• New Senior Deduction: A $6,000 additional deduction for seniors, phasing out above $75,000 for singles ($150,000 for joint filers).
• Auto Loan Interest Deduction: Up to $10,000 deductible, phasing out above $100,000 ($200,000 joint).
• Tip Income Deduction: Up to $25,000 exempt from taxes, phasing out above $150,000 ($300,000 joint), aiding service workers.
• Overtime Pay Deduction: Up to $12,500 ($25,000 joint) deductible, supporting hardworking employees in various industries.

These cuts extend elements of the 2017 tax reforms, keeping the tax code structure familiar while providing immediate relief.

Who Qualifies for the Gigantic IRS Tax Refund?

The benefits are widespread, but certain groups stand to gain the most:

• Families with Children: Enhanced child tax credits could add hundreds to refunds.
• Seniors: The new $6,000 deduction offers targeted relief, potentially increasing refunds by thousands.
• Middle- and Upper-Middle-Income Earners: Deductions for tips, overtime, and auto loans favor workers in these brackets, with phase-outs ensuring broader accessibility.
• Residents in High-Tax States: The higher SALT cap provides significant savings.

Experts from the Tax Foundation note that over 100 million taxpayers typically receive refunds averaging around $3,000, but this year could see boosts especially for those who overwithheld. Middle-class households, in particular, are projected to see tax rate cuts, with 94% benefiting overall.

How Much Can You Expect in Your 2025 Tax Refund?

Projections vary, but the consensus is optimistic:

• Treasury Secretary Bessent estimates $1,000 to $2,000 per household, depending on the number of workers.
• The Tax Foundation predicts average refunds could rise by $300 to $1,000, pushing the typical amount to $3,800 or more—up from $3,052 as of October 2025.
• Some analyses suggest even higher figures, with potential increases up to $1,000 on average, leading to refunds around $4,151.

Your exact amount depends on your income, withholdings, and applicable deductions. Use the IRS withholding estimator tool on IRS.gov to preview potential changes for future years.

How to Claim Your Gigantic Tax Refund

Filing your 2025 taxes in 2026 is straightforward—use Form 1040 and include all eligible deductions and credits. The IRS encourages electronic filing for faster processing, with refunds typically issued within 21 days. If you’re eligible for retroactive benefits, they will be automatically calculated based on your return.

For more details, visit the IRS website or consult a tax professional. Stay updated, as additional guidance may emerge in early 2026.

This gigantic IRS tax refund could provide much-needed financial breathing room for millions. If you think you qualify, start gathering your documents now to maximize your return.

Gold and Silver Taxes in 2026 – As precious metals like gold and silver continue to attract investors seeking portfolio diversification and hedges against inflation, understanding the tax implications is crucial. With the new year approaching, 2026 brings some notable changes, particularly at the state level, while federal rules remain largely consistent with adjustments for inflation. This article explores the key tax rules for gold and silver investments in 2026, including capital gains taxes, sales taxes, and IRA considerations. Whether you’re buying bullion, holding coins, or rolling over retirement funds, staying informed can help maximize your returns and minimize liabilities.

Federal Capital Gains Tax on Gold and Silver in 2026

When you sell gold or silver investments, the IRS treats them as collectibles rather than standard capital assets. This classification means long-term capital gains (for holdings over one year) are taxed at a maximum rate of 28%, which is higher than the typical 15% or 20% for stocks or bonds. Short-term gains (holdings under one year) are taxed at your ordinary income tax rate, which could be as high as 37% depending on your bracket.

For 2026, the capital gains tax brackets have been adjusted for inflation:

• 0% rate applies if your taxable income is $49,450 or less (single filer) or $98,900 or less (married filing jointly).
• 15% rate kicks in for incomes between $49,451 and $545,500 (single) or $98,901 and $613,700 (joint).
• 20% rate for higher incomes.

Collectibles like precious metals don’t qualify for the lower long-term rates unless your income falls into the 0% bracket. To potentially avoid or defer taxes, consider holding gold and silver in a self-directed IRA, where gains can grow tax-deferred or tax-free in a Roth IRA. Always report sales on IRS Form 1099-B if provided by your dealer, and consult a tax professional for personalized advice.

Sales Tax on Gold and Silver Bullion: State-by-State Overview and 2026 Changes

Sales tax on precious metals varies widely by state, with many exempting bullion to encourage investment. However, 2026 introduces a significant shift in Washington State, where a long-standing exemption is being repealed. Starting January 1, 2026, sales of gold, silver, and other precious metal bullion will be subject to retail sales tax, typically ranging from 7.5% to over 10% depending on local rates. This change, enacted through legislation, aims to close a tax loophole but could increase costs for buyers, potentially driving purchases to neighboring states like Oregon or Idaho, which maintain exemptions.

Here’s a quick look at sales tax status for gold and silver bullion in select states as of 2026 (based on updated guides; always verify with state revenue departments):

For a full list, resources like state tax foundations indicate that over 30 states fully or partially exempt precious metals from sales tax to promote sound money policies. If you’re buying online, the tax is based on your shipping address, so out-of-state purchases might still incur your local rate under use tax rules.

Gold and Silver in IRAs: Rules and Contribution Limits for 2026

Investing in physical gold and silver through a precious metals IRA offers tax advantages, allowing tax-deferred growth in a traditional IRA or tax-free withdrawals in a Roth. For 2026, the IRS has increased contribution limits: up to $7,500 annually ($8,500 if age 50+), reflecting inflation adjustments.

Key rules remain unchanged:

• Eligible metals must meet purity standards: gold at least 99.5% pure, silver 99.9% pure (e.g., American Eagle coins, certain bars).
• Storage must be with an IRS-approved custodian or depository; personal possession disqualifies the IRA.
• No collectibles like rare coins unless they qualify as bullion; proof coins are often excluded.

Experts suggest gold IRAs for stability in 2026 amid economic uncertainties, while silver might appeal for higher growth potential but with more volatility. Minimum investments typically start at $10,000–$50,000, depending on the provider. Rollovers from 401(k)s or traditional IRAs are tax-free if done directly.

Planning Your Gold and Silver Investments for Tax Efficiency in 2026

With potential economic shifts on the horizon, gold and silver remain popular assets, but taxes can erode gains if not managed properly. Key takeaways for 2026 include watching state-specific changes like Washington’s new sales tax, leveraging IRAs for tax deferral, and holding investments long-term to cap gains at 28%. Always use reputable dealers and track your basis (purchase price) for accurate reporting.

For the latest updates, consult the IRS website or a certified tax advisor, as laws can evolve. By staying proactive, you can navigate gold and silver taxes effectively and protect your wealth in the coming year.