menu_open Columnists
We use cookies to provide some features and experiences in QOSHE

More information  .  Close

Thanks to Trump, tax refunds could $1,000 higher this season. Here are the new deductions taxpayers should know about

24 5
15.02.2026

Thanks to Trump, tax refunds could $1,000 higher this season. Here are the new deductions taxpayers should know about

Tax season is underway and you have until April 15 to file your return with the IRS. If you want to avoid the stress of the looming deadline, start getting organized as soon as possible.

“Don’t wait until the last minute but also don’t rush,” said Tom O’Saben, director of tax content and government relations at the National Association of Tax Professionals,

Gathering all your documents, signing up for direct deposit and keeping copies of your tax returns are some of the best practices when it comes to preparing to fill out your taxes. This year, due to the Republican tax and spending bill that President Donald Trump signed over the summer, there are new deductions taxpayers should know about.

Among them are no tax on tips, no tax on overtime, deductions for car loan interest, and deductions for people who were 65 or older by Dec. 31, said Miguel Burgos, a certified public accountant and an expert for TurboTax.

The average refund last year was $3,167. This year, analysts have projected it could be $1,000 higher, thanks to changes in tax law. More than 165 million individual income tax returns were processed last year, with 94% submitted electronically.

If you find the process too confusing, there are plenty of free resources to help you get through it.

Here are some things you need to know:

Gather your documents

While the required documents might depend on your individual case, here is a general list of what everyone needs:

—Social Security number

—W-2 forms, if you are employed

—1099-G, if you are unemployed

—1099 forms, if you are self-employed

—Savings and investment records

—Any eligible deduction, such as educational expenses, medical bills, charitable donations, etc.

—Tax credits, such as the child tax credit, retirement savings contributions credit, etc.

To find a more detailed document list, visit the IRS website.

O’Saben recommends gathering all of your documents in one place before you start your tax return and also having your documents from last year. Taxpayers can also create an identity........

© Fortune