Category: Credits & Deductions
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New Jersey’s one application for three senior programs is due November 2
New Jersey’s property-tax relief application is due November 2, 2026, and one form, the PAS-1, covers three programs: Senior Freeze, ANCHOR and Stay NJ. The state Division of Taxation says on its property tax relief page that “the deadline to apply for the 2025 application is November 2, 2026.” For seniors the single application is…
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Taxpayers born before January 2, 1962 can claim the new senior deduction, and a couple who are both 65 can claim it twice
The IRS says anyone born before January 2, 1962 may be eligible for the new enhanced deduction for seniors, and a married couple can claim it twice when both spouses are eligible. The rule is written in the instructions to the IRS’s 2026 Form 1040-ES, the estimated tax form, which puts the maximum at $6,000…
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All four of the new federal deductions are claimed on one new form, Schedule 1-A, whether or not a filer itemizes
The four new federal deductions that took effect for the 2025 tax year all go on one new form, Schedule 1-A, which the IRS calls “Additional Deductions.” The IRS says the form is attached to Form 1040, 1040-SR or 1040-NR, and a filer does not have to itemize to use it, according to the agency’s…
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Pennsylvania’s rebate for older homeowners and renters closes December 31, after more than 513,000 people shared over $315 million last year
Pennsylvania’s rebate program for older homeowners and renters takes its last applications for the 2025 claim year on December 31, 2026. The Department of Revenue says more than 513,000 people shared over $315 million from the Property Tax/Rent Rebate Program last year. The program is for Pennsylvanians who are 65 or older, widows and widowers…
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Alabama farms can skip the state utility gross receipts tax on power for poultry houses, greenhouses and pivot irrigation through Aug. 31, 2029
Alabama farmers who run poultry houses, greenhouses or pivot irrigation can stop paying the state’s utility gross receipts tax on the electricity or natural gas those operations use. The break started Sept. 1, 2026 and ends Aug. 31, 2029. It is not automatic, though. A farm has to get a state certificate and hand it…
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Vermont renters have until Oct. 15 to claim the state Renter Credit, and late claims are not accepted
Vermont will stop taking Renter Credit claims after Oct. 15, and the state says it will not make exceptions. The Department of Taxes puts it flatly on its Renter Credit page: “we do not accept late filings.” With Oct. 15 falling on a Thursday, renters who have not filed have a few days left. Who…
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About 47 million taxpayers who could get the new federal Saver’s Match are not saving for retirement, the IRS told Congress
About 47 million taxpayers who would be eligible for the new federal Saver’s Match are not putting money into a retirement account, the Treasury Department and the IRS told Congress. The number comes from a Sept. 28, 2026 report required by the SECURE 2.0 retirement law. The match starts with contributions made in 2027. What…
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A Yonkers tax preparer admitted causing more than $5 million in IRS losses
A man who ran tax preparation offices in Yonkers, New York, has pleaded guilty to helping file false returns that cost the Internal Revenue Service more than $5 million. Joseph Clay, 52, of Lodi, New Jersey, entered the plea on October 1, and the same conduct cost New York State close to $900,000 more. What…
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Treasury estimates about 96 percent of children in participating states, 30 so far, could qualify for the new tax-credit scholarships when the credit launches Jan. 1
Treasury and the IRS say about 96 percent of children in participating states would be eligible to receive scholarship money funded by a new federal tax credit. The estimate comes from an Oct. 1 announcement, IR-2026-117, which also set out how the credit works: up to $1,700 for an individual, up to $3,400 for a…
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Treasury’s temporary rules for the new federal scholarship tax credit take effect Dec. 1, before contributions open Jan. 1, 2027
Treasury and the IRS have issued temporary rules for the new federal scholarship tax credit, and they take effect Dec. 1, 2026. Contributions to scholarship groups open a month later, on Jan. 1, 2027. The rules were published in the Federal Register on Oct. 2, and the regulations say they are effective on Dec. 1,…
