Category: Taxes & Policy

U.S. citizens and permanent residents living overseas face a filing deadline of June 15 for their 2025 federal tax returns. The date applies to calendar-year filers who were outside the country on April 15, the standard due date. To qualify, taxpayers must attach a written statement to their return showing they meet the criteria described…

Millions of hourly workers are about to see a rare break from the tax code’s usual treatment of extra pay. A new federal provision lets eligible taxpayers deduct up to 12,500 dollars of qualifying overtime income through 2028, or up to 25,000 dollars for married couples filing jointly. For families that rely on long shifts…

Married couples filing jointly will owe zero federal tax on long-term capital gains in 2026 if their taxable income stays below $98,900, according to inflation-adjusted thresholds the IRS published through Revenue Procedure 2025-32. The new figure, which applies to assets held longer than one year, creates a concrete planning window for households that can time…

Parents who borrowed federal PLUS loans to help pay for a child’s college education face a hard deadline that could strip away their only path to income-based monthly payments. The U.S. Department of Education issued guidance on July 18, 2025, stating that provisions of the One Big Beautiful Bill Act take effect immediately upon enactment,…

U.S. citizens and resident aliens living outside the country face a hard deadline next Monday, June 15, to file their 2025 federal income tax returns. The date applies to calendar-year filers whose tax home and abode were outside the United States and Puerto Rico on April 15, 2026, the standard filing deadline. While the two-month…

Tens of thousands of Arizona residents who relied on the Supplemental Nutrition Assistance Program have lost access to food benefits since the federal government began enforcing expanded work requirements under the One Big Beautiful Bill Act of 2025. The drop, which exceeds half of the affected caseload, has hit adults without dependents hardest and triggered…

Taxpayers who requested extra time to file their 2025 returns but still owe money to the IRS will pay more for that delay starting July 1, 2026. The agency’s underpayment interest rate jumps from 6% to 7% for the third quarter, a full percentage point increase that raises the daily cost of carrying an unpaid…

Self-employed workers, freelancers, and investors who earn income not subject to payroll withholding face a hard deadline on Monday, June 15, 2026. That is the due date for the second quarterly estimated tax installment covering income received between April 1 and May 31. Missing it triggers a penalty calculated under federal statute, and the IRS…

Millions of taxpayers who did not file their 2025 federal returns by the April 15 deadline still have a free electronic filing option open to them. The IRS confirmed in IR-2026-71 that its Free File program remains available at no cost through Oct. 15, giving late filers a way to submit returns electronically and avoid…

U.S. citizens and resident aliens living overseas face a hard deadline of June 15 to file their 2025 federal tax returns under the automatic two-month extension granted to qualifying expats. With just seven days left in the window, filers who have not yet submitted their returns risk late-filing penalties and accruing interest on any unpaid…