What's New on Your Form 1040 This Year?

ARTICLE | March 27, 2026

The IRS updates Form 1040 nearly every year, but this filing season brings a notably larger set of changes. Thanks to the One Big Beautiful Bill Act (OBBBA), taxpayers will find new deductions, revised credit amounts, expanded savings account rules, and updated reporting requirements waiting for them when they sit down to file their 2025 returns. From a new deduction for seniors and tax breaks on tip and overtime income, to a higher SALT deduction limit and an increased Child Tax Credit, there is a lot to understand before you file. The good news is that many of these changes are designed to put more money back in your pocket, if you know how to take advantage of them.

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