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Taxes News 27 September 2025 - 29 October 2025

Tax Season Shocker: Fewer Refunds but Bigger Payouts as New Tax Changes Loom

Tax Season Shocker: Fewer Refunds but Bigger Payouts as New Tax Changes Loom

Fewer Checks, Larger Refunds Mark 2025 Tax Season Americans saw slightly fatter refunds on average this year even as the number of people getting refunds dipped. Final IRS data through October shows the average refund climbed to $3,052, about $48 more than last year’s average accountingtoday.com. That uptick may reflect higher incomes and inflation adjustments that boosted tax withholding – leading many filers to overpay a bit more and get larger refunds. In total, the IRS disbursed $311.65 billion in refunds for the 2025 season, roughly 0.6% more than the prior year el-balad.com. However, those dollars were spread across slightly
29 October 2025
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Shocking IRS Update: New 2026 Tax Brackets Slashed for Millions – Here’s How Much You’ll Save

Shocking IRS Update: New 2026 Tax Brackets Slashed for Millions – Here’s How Much You’ll Save

The IRS announced inflation-adjusted 2026 tax brackets and deductions, easing bracket creep irs.gov cbsnews.com. For example, a single earner making $50,000 will now fall in the 12% bracket (instead of 22%) cbsnews.com. The standard deduction rises to $32,200 for joint filers ($16,100 single) irs.gov. All seven marginal rates (10%–37%) remain in force under the new law, but higher income cutoffs apply irs.gov. Capital gains thresholds also jump: the 0% rate applies up to ~$49,450 (single) or $98,900 (couples) thefinancebuff.com, and the 15% bracket extends to ~$545,500/$613,700 thefinancebuff.com. These changes stem from the new “One Big Beautiful Bill” law (signed July
9 October 2025
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Virginia’s Surprise $400 Tax Rebates: Windfall for Families or Election‑Year Gimmick?

Virginia’s Surprise $400 Tax Rebates: Windfall for Families or Election‑Year Gimmick?

Background: Virginia’s Revenue Boom Virginia’s 2025 tax rebates emerged from an extraordinary run of budget surpluses. Four consecutive years of higher‑than‑expected tax receipts and underspending produced about $10 billion in surplus revenue, according to the July 2025 revenue report governor.virginia.gov. General fund revenues for fiscal 2025 exceeded official forecasts by US$572 million thanks largely to strong income‑tax collections governor.virginia.gov. Governor Glenn Youngkin, a Republican, said the surpluses allowed the state to provide $9 billion in tax relief over his term and invest in education, law enforcement and mental health governor.virginia.gov. He framed the rebates as giving taxpayers back their own money, declaring that the surplus “is
1 October 2025
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Virginia Tax Rebate Alert: Gov. Youngkin Announces Up to $400 Checks This Fall – Are You Eligible?

With these key facts in mind, here’s an in-depth look at Virginia’s tax rebate and what it means: How the Rebate Works In late September 2025, Gov. Glenn Youngkin announced a one-time income tax rebate for eligible Virginians governor.virginia.gov. Under the plan, anyone who had a tax liability on their 2024 Virginia return and files by Nov. 3, 2025 will get a rebate check. Individual filers receive $200 and married/joint filers $400 governor.virginia.gov. (However, the rebate is capped by your actual tax liability – e.g. if you only owed $150 in tax, that’s all you’d get back kiplinger.com.) To get
27 September 2025
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