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Tax Insights via H&R Block

The standard deduction vs. itemized deductions: What’s the difference?

WWhen it comes to your tax filing, understanding deductions is vital to maximizing your potential refund or minimizing the income tax you owe the Internal Revenue Service (IRS). A deduction is an amount you can subtract from your taxable income to reduce the overall amount subject to taxation. (This is different than a tax credit.) When […]

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No Tax on Tips: What tipped workers need to know now about reporting tip income

Tips and taxes have been part of the tax code for ages. Now, with the One Big Beautiful Bill going into effect, there are big changes in store for 2025 returns that affect just how much of your tips are taxed. You probably have lots of questions about what this means for you—including what you […]

New tax laws 2025: Recent tax law changes to maximize your tax refund

Tax laws change every year—but 2025 is different. With the One Big Beautiful Bill Act (OBBBA), there were sweeping changes to the tax code, and some could put extra money back in your pocket when you file taxes in 2026. Lowering what you pay in taxes is good news, but the best part? You don’t […]

What is a Form 1099-DA and why did I get one?

As tax season gets underway, you might find a new tax form in your mailbox (or email inbox!) if you made certain digital asset transactions in 2025. The new Form 1099-DA is all about reporting digital asset activity. That includes crypto, stablecoins, and other tokenized assets. If you got one of these forms, it means […]

Child Tax Credit: How it works and who qualifies this year

The Child Tax Credit is a valuable tax benefit claimed by millions of parents with the goal of offsetting the costs of raising a child. The Child Tax Credit for 2025 is worth up to $2,200 for each qualifying child for returns filed in 2026, up from $2,000 for the Child Tax Credit for 2024 […]

College savings plans: How to save for college while reducing your tax bill

If you’re saving for college, or someone is saving on your behalf, it’s a smart idea to have an overview of the college savings options out there, as well as other account types that could help you pay for college. What’s more, you’ll want to understand how each of these impact your taxes. With rising […]

Form 1099-K: Definition, uses, and who has a reporting requirement

Do you make money through an online marketplace (like Etsy or Poshmark), auction sites (like eBay or eBid), drive for a ridesharing service (like Uber or Lyft), or own a business that accepts third-party network transactions via debit or credit cards? If you answered yes to any of these questions, there is a chance you […]

One Big Beautiful Bill Child Tax Credit updates and other changes for families

The One Big Beautiful Bill Act (OBBBA) passed in July 2025 and includes sweeping changes to family-focused tax benefits. For families, the OBBBA means increases in certain tax credits, new savings opportunities, and expanded eligibility for existing benefits. These changes could impact how much you owe—or get back—at tax time. At H&R; Block, we’re here […]

One Big Beautiful Bill: SALT deduction and other changes for homeowners

As a homeowner, you know that your taxes can get complex. Now, with the One Big Beautiful Bill Act (OBBBA) signed into law, you may be wondering what changes you need to be aware of right now and when it’s time to file your taxes next year. We’ve got you. The experts at H&R; Block […]

One Big Beautiful Bill: No Tax on Overtime pay explained (2025-2028)

Extra work hours in the week can mean extra pay for some. Now, it can also mean a new tax benefit you can claim on your return come tax time. Starting January 1, 2025, the One Big Beautiful Bill Act (OBBBA) introduces a federal income tax exemption on designated amount of qualifying overtime pay. The […]

Traditional and Roth IRA withdrawal rules and early withdrawal penalties

If you’re trying to determine which Individual Retirement Arrangement (IRA) is best for you—a Traditional IRA or Roth IRA, you’ll need to consider many of the aspects and tax implications of each arrangement. To make the best choice for retirement planning, it’s important to understand the withdrawal rules for each and when early withdrawal penalties […]