Deductions and credits, retirement accounts, stock compensation, estimated tax, extensions and deadlines.
34 articles
The 2027 COLA is 3.6% (average benefit $2,095 → $2,170). After a projected Part B increase (Trustees projection of $209.50, not finalized by CMS as of October 20, 2026), the simplified net gain is about $68 per month, and unindexed thresholds may make more of your benefit taxable.
Read article
Proposed Treasury/IRS rules (REG-101576-26, not final as of October 19, 2026) would limit the premium tax credit from 2027 to citizens, nationals and certain lawfully present noncitizens, and excess APTC must be repaid in full from tax year 2026. A self-check before open enrollment starts on November 1, 2026.
Read article
On October 16, 2026 (IR-2026-123), the IRS said it has begun automatic refunds to more than 50,000 adoptive families because, for tax year 2025 only, 2020–2024 adoption credit carryforwards can count toward the refundable credit of up to $5,000 per child. Most families need not amend, but should check the IRS notice, correct the 2026 carryforward and consider Form 843 for any estimated tax penalty.
Read article
On October 14, 2026, Treasury and the IRS proposed regulations (REG-101576-26) implementing OBBBA's premium tax credit changes: for tax years beginning after December 31, 2025, excess advance PTC must be repaid in full with no cap, and from 2027 family members who are lawfully present but not "eligible aliens" are excluded from the PTC computation. Update your Marketplace income estimate now, confirm each family member's status category before 2027 coverage, and note that comments are due November 30, 2026.
Read article
Extended your 2025 federal return? It is due Thursday, October 15, 2026, with no second extension. A last-days checklist from IRS guidance: missing K-1s and foreign forms, payment options, penalties, and a day-by-day plan.
Read article
IRS is mailing CP321J about the Saver’s Match starting with 2027 contributions—up to $1,000 federal match claimed on Form 8880-A in 2028. Cary/RTP compliance-planning guide.
Read article
New Section 25F guidance calls for checking SGO eligibility, each spouse’s contributions, and available tax liability before giving. Scholarship applications follow a separate process.
Read article
Before moving an old 401(k), compare your options and check the account type, rollover method, deadline, withholding and early-withdrawal exceptions.
Read article
Beginning in 2026, age-50+ catch-up contributions generally must be Roth if your 2025 FICA wages from that plan sponsor exceeded $150,000. Here’s what Cary/RTP employees and plan sponsors should check before year-end payroll elections close.
Read article
Pay individual estimated tax online with IRS Direct Pay or an IRS Online Account, then keep the right tax year, amount, and confirmation records. This companion focuses on 1040-ES workflow rather than repeating the Direct Pay tutorial.
Read article
Where you sit can create withholding and filing duties in more than one state. Map work location, reciprocity, and convenience-of-employer rules—state lists marked to be verified—before you rely on a single W-2.
Read article
Form 1099-DA reports digital-asset proceeds to you and the IRS—it does not replace Form 8949 boxes G–L or Schedule D. Reconcile basis, holding period, and exceptions before you file.
Read article
Calendar-year Form 1040 is generally due April 15. Form 4868 extends time to file—not to pay. Use this compliance checklist for documents, e-file, payment channels, and what to do if you cannot pay in full.
Read article
RP 2024-28 safe harbor for allocating unattached crypto basis to wallets as of Jan 1, 2025—records, 8949 alignment, and how this pairs with 1099-DA (no duplicate broker rules).
Read article
IRS Get Ready tips: organize W-2s, 1099s, credit/deduction proofs, and ID docs before you file—plus Online Account and missing-form paths. YCL bilingual SOP for Cary/RTP.
Read article
IRS Tip 2025-28: run the free Tax Withholding Estimator yearly (and after life changes), then update Form W-4 if needed—compliance pay-as-you-go for Cary/RTP W-2 households.
Read article
An IRS Identity Protection PIN is a free six-digit code that blocks thieves from e-filing under your SSN or ITIN. The fastest enrollment path is your IRS Online Account—retrieve a new PIN each year before you file.
Read article
IRS Direct Pay lets individuals and businesses pay federal tax from a U.S. checking or savings account with no IRS fee and no login. Schedule today or up to 365 days ahead—ideal for 1040-ES and balance-due compliance.
Read article
For tax year 2026, calendar-year Form 1040-ES installments are due April 15, June 15, and September 15, 2026, and January 15, 2027. As of mid-September, the next federal date for most filers is January 15—skip it only if you file and pay the full 2026 balance by February 1, 2027.
Read article
RSUs generally create W-2 wages at vest; employers often withhold federal tax at 22%, which may be below your bracket. RTP tech workers should use Form W-4 and 1040-ES—and watch NC withholding. Compliance planning, not tax minimization tips.
Read article
Form 4868 moves your 2025 Form 1040 filing date to October 15, 2026—it does not extend the April payment due date. Unpaid tax generally accrues interest; a ~90% paid-by-due-date path in the Form 4868 instructions can limit failure-to-pay during the extension, but interest may still apply.
Read article
If you filed Form 4868 for your 2025 return, the federal filing deadline is generally October 15, 2026—about three and a half weeks away. Waiting on a K-1 or China account docs does not create another automatic delay; FBAR and many foreign forms often converge on the same date.
Read article
IRS set 2026 elective deferrals at $24,500; age-50 catch-up $8,000; ages 60–63 enhanced catch-up $11,250; IRA $7,500. Mandatory Roth catch-up for high earners is covered in our separate article—this guide is the full limits table for compliance planning.
Read article
OBBBA expanded §529: from 2026 the K–12 cap is $20,000 per beneficiary across all QTPs (was $10,000), and qualified K–12 costs include curriculum, tutoring, tests, dual enrollment, and certain disability therapies. State tax treatment may differ.
Read article
OBBBA ended §25C for property placed in service after Dec. 31, 2025, and §25D for expenditures made after that date. Paying early does not save a 2026 install. Check Form 5695, invoices, and completion dates.
Read article
OBBBA ended §§30D/25E/45W for vehicles acquired after Sept. 30, 2025. Binding written contract plus payment on/before that date may still allow a credit when placed in service later. Check contracts, dealer reports, and Form 8936.
Read article
OBBBA reshapes §170 from 2026: nonitemizers may deduct up to $1,000/$2,000 MFJ of qualifying cash; itemizers face a 0.5% AGI floor; 60% cash ceiling made permanent. Plan 2025 bunching vs 2026 rules. NC pickup to be verified.
Read article
OBBBA added §530A Trump Accounts and a §6434 pilot: U.S.-citizen qualifying children born 2025–2028 with SSNs may receive a one-time $1,000 Treasury seed after Form 4547 / portal election (not before July 4, 2026). Growth-period withdrawals are generally barred. Cary/RTP newborn families should plan elections and records carefully.
Read article
OBBBA §70104: CTC up to $2,200 per qualifying child (2025), with ACTC up to about $1,700 refundable. Child and at least one MFJ spouse need work-authorized SSNs. ITIN-only children may get $500 ODC instead. Federal credit ≠ automatic NC cut.
Read article
OBBBA §70120: federal SALT cap $40,000 for 2025 ($40,400 for 2026), with 30% MAGI phasedown to a $10,000 floor; reverts in 2030. Still requires itemizing. NC mortgage interest + real estate tax remain combined-capped at $20,000 (NCDOR Q16).
Read article
OBBBA §70203: for 2025–2028, deduct up to $10,000 of qualified passenger-vehicle loan interest on a new, U.S.–finally-assembled personal vehicle financed after 2024. MAGI phase-out applies. NCDOR: does not reduce NC taxable income.
Read article
OBBBA enhanced senior deduction: up to $6,000 per person age 65+ for 2025–2028 ($12,000 if both spouses qualify), on top of the traditional age extra SD. 6% MAGI phase-out; NCDOR: does not reduce NC taxable income.
Read article
OBBBA §225: for 2025–2028, deduct the FLSA overtime *premium* only—up to $12,500 ($25,000 MFJ), with MAGI phase-out. Not the full OT check. NCDOR: does not reduce NC taxable income.
Read article
OBBBA (P.L. 119-21) added §224: deduct up to $25,000 of qualified tips for 2025–2028, with MAGI phase-out. NCDOR states the deduction does not reduce NC taxable income. Cary/RTP tipped workers should plan records and Schedule 1-A carefully.
Read articleYour situation
Every file is different. Book a free 15-minute consultation and a CPA will walk you through yours.
Articles are general information, not tax or legal advice for your specific situation.
