Income Tax News
Follow federal and state income tax developments, from new forms and filing guidance to legislation, rate changes, credits, and tax relief.
West Virginia Signs a 5% Income Tax Rate Cut for 2026
West Virginia's new law cuts all five income tax rates for 2026, bringing the top rate down to 4.58%. The reduction applies from January 1, with existing bracket thresholds unchanged.
Third 2026 Estimated Income Tax Payment Is Due September 15
The third 2026 estimated income tax payment is due September 15. Compare earlier payments and withholding with your latest income estimate. A summer investment gain or taxable retirement withdrawal may affect what remains to be paid.
South Carolina Issues Guidance on Its New 2026 Income Tax Rules
South Carolina's latest guidance explains the new two-rate structure and income-based deduction. Taxpayers making estimated payments should review the changes rather than rely on the lower top rate alone.
Indiana Opens Tax Amnesty Through September 9, 2026
Indiana's amnesty window covers eligible debts for tax periods ending before 2024. Taxpayers have until September 9 to enroll and pay, or arrange an amnesty payment plan.
IRS Announces Automatic Penalty Relief for Eligible Taxpayers
Eligible taxpayers will receive relief from certain IRS penalties without requesting a waiver. The summer transition begins with 2025 annual and 2026 quarterly returns. Tax and interest remain due, and some notices still require follow-up.
Carlos Mencia Charged With Failing to File California Tax Returns
California prosecutors allege six years of missing personal and corporate returns. Mencia pleaded not guilty on June 22. The case highlights the difference between an overdue return and an allegation of deliberate tax evasion.
Second 2026 Estimated Income Tax Payment Is Due June 15
The second 2026 estimated income tax payment is due June 15. Changes in business income, retirement withdrawals, or withholding may warrant a fresh calculation. If your circumstances are steady, the planned payment may still fit.
Maine Revises Its 2026 Tax Schedule to Include a 2% High-Income Surcharge
Maine's revised 2026 schedule adds a 2% surcharge on taxable income above filing-status thresholds. The regular rates remain unchanged, and only the income above the applicable threshold faces the extra tax.
Georgia Cuts Its Income Tax Rate to 4.99% for 2026
Georgia lowers its income tax rate from 5.19% to 4.99% and raises standard and dependent deductions for 2026. The changes apply from January 1, giving eligible taxpayers relief for the full tax year.
Arkansas Cuts Its Top Income Tax Rate to 3.7% for 2026
Arkansas reduces its top individual income tax rate from 3.9% to 3.7% for 2026. The cut applies to the full tax year and keeps the lower rates and existing bracket thresholds in place.
First 2026 Estimated Income Tax Payment Is Due April 15
The first 2026 estimated income tax payment is due April 15. It is separate from any balance owed on a 2025 return. Review the new year's estimate and use the correct tax year when paying.
West Virginia Signs a 5% Income Tax Rate Cut for 2026
West Virginia's new law cuts all five income tax rates for 2026, bringing the top rate down to 4.58%. The reduction applies from January 1, with existing bracket thresholds unchanged.
Utah Cuts Its Income Tax Rate to 4.45% for 2026
Utah lowers its flat income tax rate from 4.50% to 4.45% for the full 2026 tax year. The cut saves $5 per $10,000 of taxable income before credits, with the taxpayer tax credit still affecting the final bill.
IRS Warns Nonfilers to Claim 2022 Refunds Before April 15
The IRS estimated that more than 1.3 million people had unclaimed 2022 income tax refunds. Its March reminder urged filing by April 15, 2026. Prior-year forms and income records help taxpayers determine what they can claim.
Indiana Cuts Its Income Tax Rate to 2.95% for 2026
Indiana starts 2026 with a 2.95% state income tax rate, down from 3.00%. The reduction saves $40 on $80,000 of taxable income before credits. County income taxes still apply separately and can affect the total bill.
Oklahoma Cuts Its Top Income Tax Rate to 4.50% for 2026
Oklahoma replaces its six-rate schedule with a zero-rate band and three lower rates for 2026. Single filers with $80,000 or $160,000 of unchanged taxable income save about $226 or $426 before credits.
Ohio Adopts a 2.75% Income Tax Rate for 2026
Ohio eliminates its 3.125% top rate for nonbusiness income. At unchanged taxable income, the new schedule saves $10 at $80,000 and about $254 at $160,000 before credits. The calculation still includes a base tax.
IRS Sets January 26 Opening Date for the 2026 Filing Season
Eligible taxpayers can begin using IRS Free File January 9, ahead of the January 26 filing-season opening. April 15, 2026 is the general deadline to file 2025 federal income tax returns and pay any tax due.
North Carolina Cuts Its Income Tax Rate to 3.99% for 2026
North Carolina begins 2026 with a 3.99% income tax rate, down from 4.25%. The cut saves $208 on $80,000 of taxable income before credits. Updated payroll withholding also reflects the lower rate.
New York Cuts Its Five Lowest Income Tax Rates for 2026
New York lowers five income tax rates for 2026 while keeping the same bracket thresholds. The single-filer examples show savings of about $80 at $80,000 of taxable income and $160 at $160,000.
Montana Cuts Its Top Income Tax Rate to 5.65% for 2026
Montana expands its lower tax bracket while cutting the top rate to 5.65%. A single filer with $80,000 of taxable ordinary income saves about $398 before credits. The changes apply to the 2026 tax year.
Nebraska Cuts Its Top Income Tax Rate to 4.55% for 2026
Nebraska lowers both upper-bracket rates to 4.55% for 2026. A single filer with $80,000 of taxable income saves about $343 before credits under the new schedule. Another reduction to 3.99% follows in 2027.
IRS Reports Nearly 166 Million Individual Income Tax Returns in 2025
Electronic filing accounts for 93.4% of individual returns in the latest IRS totals. The average income tax refund is $3,167. Direct deposit delivers most refunds as the agency phases out paper checks with limited exceptions.
Mississippi Cuts Its Income Tax Rate to 4.00% for 2026
Mississippi lowers its income tax rate to 4.00% while keeping the first $10,000 of taxable income untaxed. A single filer with $80,000 of taxable income saves $280 before credits. Further reductions are scheduled for 2027 through 2030.
Final 2025 Estimated Income Tax Payment Is Due January 15, 2026
The final estimated income tax payment for 2025 is due January 15, 2026. Review earlier payments and any late-year income changes before paying. The due date belongs to the 2025 schedule, even though payment falls in January.
Kentucky Cuts Its Income Tax Rate to 3.50% for 2026
Kentucky begins 2026 with a lower flat income tax rate. The cut saves $400 on $80,000 of taxable income before credits. Updated withholding guidance also brings the 3.50% rate into the calculation for employee paychecks.