{"id":711,"date":"2025-01-23T23:04:27","date_gmt":"2025-01-23T23:04:27","guid":{"rendered":"https:\/\/wmtcolorado.com\/?page_id=711"},"modified":"2026-01-30T03:41:37","modified_gmt":"2026-01-30T03:41:37","slug":"2025-updates","status":"publish","type":"page","link":"https:\/\/wmtcolorado.com\/?page_id=711","title":{"rendered":"2026 Updates"},"content":{"rendered":"

2026 Tax Season Partial List of Individual Federal Tax Changes<\/h3>\n
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During the summer of 2025 the Federal Government (One Big Beautiful Bill - OBBB) and the state of Colorado passed tax laws with a number of changes to the individual returns. These changes apply to income earned in 2025 and for many taxpayers, these changes will result in an increased refund. At this time, it\u2019s hard to tell how the new laws will affect each individual return and for some taxpayers the amount of the tax break may be limited.<\/p>\n

The 2025 tax laws were passed half way through the year, and now the organizations that issue W-2s and 1099s must make changes in how they report income. Because of this, there may be some extra work needed to claim the new deduction and the internet may be the best solution if the deduction amount isn\u2019t sent to you on a W2 or 1099.<\/p>\n

No more paper checks.<\/b> Beginning this year, the IRS will issue paper checks for refunds only to people without a bank account, everybody else will have to get direct deposit. The same is true for payments, no more paper checks except for a few exceptions. I can enter the bank information when we prepare the return, or you can pay online through the IRS website.<\/span><\/p>\n

The annual task of collecting income tax documents<\/b> each year begins in January and ends mostly in March. Until recently, these forms would have been printed and delivered by mail. Now, many taxpayers retrieve their documents through online websites. The government and the companies that issue these documents would prefer that we use the online method but there can be access problems when the sites don\u2019t work as promised or they are hard to understand and with difficult security. But because I have seen more problems with mail delivery lately, I recommend that you try to get online access set up for your tax documents. I wouldn\u2019t be surprised if they end most mail delivery so you may want to be prepared.<\/span><\/p>\n

I copied much of the information in the federal section from the IRS website in January 2026. The italics are my comments and the estimates I make are general approximations.<\/p>\n<\/div>\n<\/div><\/div><\/div>

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2026 Federal Tax Update<\/h3>\n
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Deduction for seniors<\/span><\/p>\n