File Your 2025 Return in 2026 – Key Takeaways for Individuals and Businesses For Individuals 1. Higher Standard Deduction $15,750 for single filers $31,500 for married filing jointly $23,625 for head of household 2. Extra Deductions for Workers & Seniors Certain...
What Is the EITC? The Earned Income Tax Credit (EITC) is a refundable federal tax credit designed to benefit low- to moderate-income workers and families. It can reduce the taxes you owe and increase your refund — even if you don’t owe any tax. Maximum Credit...
👶 Family & Dependents Child Tax Credit (CTC) – Helps families with qualifying children; up to ~$2,200 per child. Additional Child Tax Credit (ACTC) – Refundable portion of the CTC (up to ~$1,700 per child). Earned Income Tax Credit (EITC) – Refundable credit for...
Newington, CT — As tax season approaches, many individuals are reviewing ways to reduce taxable income and boost retirement savings. One of the most effective strategies is contributing to a traditional 401(k) retirement plan, which offers valuable tax benefits now...
By Laura Halferty, Charley Jensen, Thomas Molins, Jay Simpson, Charles Hutchison & Caroline Rice07.08.2025 On July 4, President Trump signed into law the One Big Beautiful Bill Act (Bill), which was approved by the Senate and House earlier in the week. The 870...