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Major Tax Changes Ahead for 2026: What You Need to Know

11/17/2025

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Summary

Story summary

U.S. taxpayers will face significant changes in the 2026 filing season.
The Internal Revenue Service will discontinue its Direct File system, raising concerns about low-income filers switching to paid software.
The standard deduction expands, and a new $6,000 'senior bonus' deduction applies to adults 65 and older.
Charitable giving rules allow non-itemizers to deduct cash gifts.
The 401(k) contribution limit rises to $24,500, and auto-loan interest deductions become available for qualifying buyers.

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Story summary

U.S. taxpayers will face significant changes in the 2026 filing season.
The Internal Revenue Service will discontinue its Direct File system, raising concerns about low-income filers switching to paid software.
The standard deduction expands, and a new $6,000 'senior bonus' deduction applies to adults 65 and older.
Charitable giving rules allow non-itemizers to deduct cash gifts.
The 401(k) contribution limit rises to $24,500, and auto-loan interest deductions become available for qualifying buyers.