Main Street Dollars

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President Trump signed a proclamation on September 8 that took some Canadian products off the list of goods carrying an extra import duty and left the rest on it. The change applies to goods entered, or withdrawn from a warehouse, for consumption on or after 12:01 a.m. Eastern time on September 15, 2026. The duty…

Taxpayers born before January 2, 1962 can claim the new senior deduction, and a couple who are both 65 can claim it twice

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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…

All four of the new federal deductions are claimed on one new form, Schedule 1-A, whether or not a filer itemizes

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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…

Trump’s diesel order leaves the deferred tax due later and tells Treasury to look for a way to cancel it altogether

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President Trump’s Executive Order 14435, signed October 5, 2026, sets up a deferral of the federal diesel fuel excise tax, not a cut. Treasury is told to postpone payment of the tax on diesel incurred from October 5 through December 31, 2026, with no penalties or interest, if it finds it has the legal authority,…

Pennsylvania’s rebate for older homeowners and renters closes December 31, after more than 513,000 people shared over $315 million last year

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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…

Cook County has scheduled a Dec. 15 tax sale for unpaid 2023 property taxes

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Cook County will hold its tax sale on Dec. 15, 2026, and the properties in it are the ones with unpaid Tax Year 2023 property taxes. The Cook County Treasurer’s website lists how to avoid the December 15, 2026 tax sale and publishes lists of properties with delinquent 2023 taxes. For a homeowner in Chicago…

Alabama farms can skip the state utility gross receipts tax on power for poultry houses, greenhouses and pivot irrigation through Aug. 31, 2029

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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…

Alabama’s new tax of 10 cents per milliliter on vape liquid took effect Oct. 1

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Alabama began charging a state tax on vape liquid on Oct. 1, and the rate is 10 cents for every milliliter. The Alabama Department of Revenue, which collects it, calls it a state excise tax on consumable vapor products. A 30-milliliter bottle of nicotine liquid carries $3.00 of tax under that rate, by the arithmetic.…

Montana cuts its top income tax rate for 2027 and widens a lower bracket

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Montana taxpayers with a decent-sized income will see a smaller state tax bill starting in tax year 2027. The state’s top income tax rate drops from 5.65 percent in 2026 to 5.4 percent in 2027, and the income that is taxed at the lower 4.7 percent rate grows by $35,000 for couples filing together. The…

Vermont renters have until Oct. 15 to claim the state Renter Credit, and late claims are not accepted

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