Filing Your 2026 Taxes
Get the key numbers, new deductions, and changed rules for the 2026 return you file in 2027.
TL;DR
- File your 2026 return by
April 15, 2027, using the new thresholds. - Claim new deductions for
tips,overtime, seniors, and car loan interest. - Use the higher
401(k)and IRA limits before the year ends.
2026 Key Numbers
Standard DeductionThe flat deduction most filers take instead of itemizing.
$16,100 / $32,200 joint / $24,150 HoHTax RatesThe seven rates are unchanged; only the thresholds moved up.
10% 12% 22% 24% 32% 35% 37%Filing DeadlineYour 2026 return and any balance due are due this day.
April 15, 2027Extended DeadlineForm 4868 moves the filing date, not the payment date.
October 15, 2027New Deductions
Qualified TipsTip earners deduct reported tips from income through 2028.
Up to $25,000Qualified OvertimeThe extra half in time-and-a-half pay is deductible through 2028.
Up to $12,500 / $25,000 jointSenior DeductionPeople 65 and older get an extra deduction through 2028.
Up to $6,000 per personCar Loan InterestInterest on a loan for a new US-assembled car is deductible.
Up to $10,000 a yearCharity, No ItemizingNew in 2026, cash gifts count with the standard deduction.
$1,000 single / $2,000 jointHigher Limits
401(k)Workplace plan contributions, with extra room at 50 and older.
$24,500 + $8,000 catch-upIRATraditional or Roth IRA contributions for the year.
$7,500 ($8,600 at 50+)HSAHealth savings account limits with a qualifying health plan.
$4,400 self / $8,750 familySocial Security Wage BaseWages above this owe no Social Security tax for the year.
$184,500What Ended or Changed
EV Credit EndedClean vehicle credits ended for cars bought after September 2025.
No federal EV credit in 2026Home Energy Credits EndedCredits for efficiency upgrades and solar ended after 2025.
Improvements in 2026 = no creditHigher SALT CapItemizers can deduct more state and local taxes than before.
$40,400 cap in 2026New 1099 ThresholdsFewer small payments trigger a 1099, but all income is still taxed.
NEC: $2,000 / K: $20,000 + 200Tips
- Raise your
401(k)contribution before your last paychecks of the year; the 2026 limit is $24,500, plus $8,000 if you are 50 or older. - Save pay stubs showing tips and overtime separately, since the new
tipsandovertimedeductions need those exact amounts.
Warnings
- The new
tipsandovertimedeductions cut income tax only; Social Security and Medicare tax still apply to that pay. - The EV and home energy credits ended in 2025, so a
2026purchase will not earn those federal credits.
In Practice
See how the new tips deduction lowers income tax for a server who takes the standard deduction.
You are single and earn $45,000 in 2026, including $8,000 of reported, qualified tips.
- Without the deduction: $45,000 - $16,100 = $28,900 taxable, so $1,240 + $1,980 = $3,220 tax.
- Take the tips deduction: $28,900 - $8,000 = $20,900 taxable.
- New tax: $1,240 + ($8,500 x 12%) = $2,260.
- Savings: $3,220 - $2,260 = $960, or $8,000 x 12%.
The tips deduction cuts your federal income tax by $960.
New deductions are worth your tax rate, so check every one that fits your pay.
FAQ
It is $16,100 for single filers and married filing separately, $32,200 for married filing jointly, and $24,150 for head of household. People 65 and older add $2,050 if unmarried or $1,650 each if married, plus a separate senior deduction of up to $6,000 per person.
Your 2026 return is due April 15, 2027. Filing Form 4868 by then extends the filing deadline to October 15, 2027, but any tax owed is still due in April.
For 2025 through 2028, workers can deduct up to $25,000 of qualified tips and up to $12,500 of qualified overtime premium pay, or $25,000 for joint filers. Both shrink for incomes above $150,000, or $300,000 joint. You can take them with the standard deduction.
You can put up to $24,500 into a 401(k), plus an $8,000 catch-up at 50 or older. The IRA limit is $7,500, or $8,600 at 50 and older. HSA limits are $4,400 for self-only coverage and $8,750 for family coverage.