Sharonda Thomas

Good news for taxpayers heading into 2026:The IRS has announced higher tax brackets and increased standard deductions , meaning many households may see more take-home pay  and lower effective tax rates  under recently enacted federal tax changes. Here’s a clear breakdown of what’s changing—and how it may affect your paycheck. Why Tax Brackets Change Each year, the IRS adjusts tax brackets and certain deductions to account for inflation . These updates are designed to prevent “bracket creep,”...

The IRS has officially released new guidance on an important benefit for families: Trump Accounts , a new type of individual retirement account (IRA) designed specifically for children under the Working Families Tax Cuts. If you’re welcoming a new baby—or have younger children in your home—this is a financial tool you’ll want to understand. It has the potential to give children a powerful head start in long-term savings and generational wealth. Here’s what parents, guardians, and caregivers...

IRS Direct File Is No Longer Available If you’ve used the IRS’s free Direct File  system in the past, there’s a major change you need to know about:👉 The IRS has confirmed that Direct File will no longer be available for the 2026 tax season. The service, first introduced as a pilot program in 2024, was meant to let taxpayers file their federal returns directly through the IRS website — free of charge, with no third-party software. While the pilot earned positive feedback, it’s now been...