- Charitable contributions: Beginning in 2026, qualifying non-itemizers may deduct limited cash charitable contributions — up to $1,000 for single filers and $2,000 for joint filers. New contribution floors apply to some itemized and corporate deductions.
- Deduction for qualified tips: For 2025 through 2028, eligible workers in qualifying occupations may deduct up to $25,000 of qualified tips. The deduction phases out above $150,000 of modified adjusted gross income, or $300,000 for joint filers, and is subject to reporting and other eligibility rules.
- 1099 reporting: The information-reporting threshold for certain Form 1099-MISC and 1099-NEC payments is scheduled to increase to $2,000, with later inflation adjustments. Review the effective date and current filing instructions before applying the threshold.
- Third-party settlement reporting: The Form 1099-K threshold was returned to a generally higher gross-payment and transaction-count test. Platform, payment type, and current filing-year guidance can affect reporting.
- Deduction for qualified overtime: For 2025 through 2028, eligible taxpayers may deduct the qualifying premium portion of overtime pay, up to $12,500 or $25,000 for joint filers. Income phaseouts and reporting rules apply.
- Car-loan interest deduction: For 2025 through 2028, eligible taxpayers may deduct up to $10,000 of interest on a qualifying loan for a new personal-use vehicle whose final assembly occurred in the United States. Income phaseouts and vehicle, loan, and reporting requirements apply.
- Qualified production property: A separate 100% deduction may apply to qualifying nonresidential real property used in eligible production activity when construction and placed-in-service deadlines and other requirements are met.
Review current IRS guidance on major individual provisions →