An IRS public hearing is scheduled for Oct. 14, 2026, on a Treasury proposal that would limit the refunded part of the child tax credit, the earned income tax credit and two other credits to U.S. citizens, nationals and qualified aliens. The proposal is not in effect. The notice in the Federal Register, published Aug.…

Nothing is payable under the Saver’s Match today, and nothing will be until 2028. The Treasury Department and the Internal Revenue Service announced in August 2026 that they intend to write the rules for the federal program, which begins with contributions made for 2027. Until proposed regulations appear, the dollar figures attached to the match…

The largest scholarship credit a married couple could take on one joint return is $3,400, and the proposed rules attach a condition to it: each spouse has to have made qualified contributions of up to $1,700. The figure is double the $1,700 ceiling for an individual, but the proposal does not treat a joint return…

The IRS has scheduled a public hearing for Tuesday, December 15, 2026, at 10 a.m. Eastern Time, to take testimony on proposed regulations for the new federal tax credit for contributions to scholarship granting organizations. The hearing is attached to a notice of proposed rulemaking with a longer comment calendar behind it, and one condition…

Whether a child can receive a scholarship paid for through the new federal scholarship tax credit comes down first to household income, and the proposed rules put the cutoff at 300 percent of the area median gross income. The same proposal tells the nonprofits that hand out the scholarships to put 90 cents of every…

Kentucky now has a firm number for the standard deduction that applies to tax year 2027: $3,470. The Department of Revenue announced it on September 11, 2026, as a routine inflation adjustment, and the increase over the current year is $110. No new rate, no new form and no new filing step came with it,…

A tax credit can sound like a gift and still carry a gate. The Treasury Department and the IRS published temporary regulations on October 2 for a new federal scholarship tax credit, and the credit is nonrefundable: it can wipe out federal income tax that is owed, but it can never be paid out as…

A cash gift made to charity before December 31 can lower taxable income even for a taxpayer who takes the standard deduction, a break that begins with the 2026 tax year. The IRS says a taxpayer who does not itemize may deduct up to $1,000 of cash contributions to certain qualified organizations, or up to…

A business mile driven on June 30, 2026 and a business mile driven on July 1 are worth different amounts on a federal tax return. The IRS raised the standard mileage rate for business use to 76 cents a mile effective July 1, up from the 72.5 cents it had set for the whole year…

The Treasury Department and the IRS announced on October 1, 2026 the first rules for a new federal credit on gifts to scholarship granting organizations, which Treasury calls the Education Freedom Tax Credit. The credit is first available for 2027, and its amount shrinks by any state credit the same donor claims on the same…