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Trump accounts, deductions for tips: What's new for tax filing this year

New federal tax provisions include $1,000 deposits for babies born 2025–2028 and expanded deductions for tipped workers, seniors, and overtime pay recipients, IRS says.

Summary by WBAL
A 2024 tax year 1040 form. (Photo by John Moore/Getty Images) (NEW YORK) — Tax season kicked off this week as the U.S. Internal Revenue Service began allowing filers to submit completed tax forms. Americans can file anytime before April 15. The IRS said earlier this month that it expects more than 164 million individual tax returns to be filed by that deadline. Refunds are typically sent within 21 days, the agency says. For paper returns, the IR…

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abc News broke the news in United States on Wednesday, January 28, 2026.
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