Three state income tax cuts are written into law for the tax year that begins Jan. 1, 2027. Nebraska’s top rate falls to 3.99% from 4.55%, Mississippi’s rate on income above $10,000 drops from 4% to 3.75%, and Montana’s top rate moves to 5.4% from 5.65%. Each figure comes from the state’s own statute or…

The IRS says the interest rate on individual tax underpayments and overpayments will hold at 7% a year, compounded daily, for the fourth quarter of 2026, October through December, unchanged from the rate that has applied all year. The rate, announced Aug. 21 in IR-2026-98, means a tax bill left unpaid past its due date…

A family that pays a nanny, a home health aide, or a regular housekeeper $3,000 or more in cash wages during 2026 becomes an employer for tax purposes under IRS rules. Once wages to that one worker reach the $3,000 threshold for the year, Social Security and Medicare taxes apply to the full amount paid,…

An offer in compromise that the IRS neither accepts nor rejects within two years of receiving it becomes automatically accepted, under a provision spelled out on the agency’s own offer-in-compromise page. The two-year clock starts on the date the IRS receives a complete offer, not the date it was mailed. Submitting one costs $205 upfront…

A long-term IRS payment plan costs $29 to set up online with direct debit, and $178 to set up by phone, by mail or in person, a gap of about $149 for choosing one channel over the other. The IRS lists both figures on its payment plans page, along with a lower fee for applicants…

More than $10,000 sitting at any point in the year across a person’s foreign bank, brokerage or mutual fund accounts triggers a federal reporting duty separate from an income tax return, and the deadline for it lands on October 15 this year. The Internal Revenue Service and the Treasury’s Financial Crimes Enforcement Network jointly administer…

The District of Columbia’s Office of Tax and Revenue has pushed back a scheduled increase in the general sales and use tax rate to 7%, moving the effective date from October 2026 to October 1, 2027. The agency’s own rate page confirms the one-year delay, giving district shoppers and businesses another twelve months at the…

Utah’s state gas tax has been running 15 percent lower than usual since this summer, and the discount is set to continue through December 31. The cut is one of the more straightforward pieces of gas-tax relief among the states that have acted this year, applying a flat percentage reduction rather than a full suspension…

Indiana’s monthslong break from its state gas tax is scheduled to end October 5, and drivers there could see prices jump by as much as 60 cents a gallon once it does. The state has gone without collecting either of its two fuel taxes since spring, under a suspension Governor Mike Braun renewed more than…

Four states have already moved to cut, freeze or suspend their gas taxes this year, and a fifth is now deciding whether to join them. Indiana, Utah, Illinois and Kentucky have each taken a different route to lower the tax portion of the pump price, while Ohio lawmakers are weighing a 90-day suspension of their…