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The tax year 2026 and the changes it brings, including the application of the OBBBA and the above-the-line charitable deduction for non-itemizers.
Tax‑exempt interest is reported on Form 1040 at line 2a (the “Tax‑exempt interest” line) even though it is not federally taxable, and that amount is pulled into the Premium Tax Credit (PTC) reconcilia...
The recognizes six standard (ADLs) — eating, toileting, transferring, bathing, dressing, and continence — and treats a person as “” when a licensed health-care practitioner certifies that the person c...
The Premium Tax Credit (PTC) repayment caps for the 2025 tax year limit how much a taxpayer with household income under 400 percent of the federal poverty level (FPL) must repay if advance payments (A...
The 2025 plan-year reconciliation will still use the traditional repayment-cap structure when filers reconcile advance premium tax credits (APTC) with the premium tax credit (PTC) on Form 8962, meanin...
Life events—marriage, divorce or legal separation, and the birth or adoption of a child—change household size and often household income, and those shifts directly affect both how much Advance Premium...
When advance premium tax credits (APTC, often called subsidies) paid to insurers exceed what an enrollee is entitled to based on their actual annual income, reconciliation on the tax return triggers r...
The IRS and federal guidance confirm that for the 2025 tax year there remain statutory dollar caps on how much a household with income under 400% of the federal poverty level (FPL) must repay if advan...
Farmers and fishermen who derive at least two‑thirds of their gross income from farming or fishing have special estimated‑tax rules for 2025: instead of quarterly payments they generally make a single...
The law in effect for the 2025 tax year (claims reconciled on 2026 returns) retains statutory dollar caps on how much taxpayers with household incomes below 400% of the federal poverty level (FPL) mus...
State tax rules in 2025 do not uniformly override the federal reality that taxpayers who take the standard deduction generally cannot claim a federal charitable deduction for cash gifts in 2025 (non‑i...