Taxpayers across the United States are facing significant changes in their deductions as the federal government prepares to eliminate several popular tax breaks starting with the 2026 tax year. Among the most notable is the disappearance of the $3,000 charitable deduction limit, a benefit that has historically encouraged donations and provided substantial relief for donors....

As the debate over the future of Affordable Care Act (ACA) subsidies intensifies, millions of Americans face the possibility of significant health insurance costs increasing by as much as $1,000 per month if current expanded tax credits expire. The temporary relief provided through enhanced ACA subsidies—initially introduced during the COVID-19 pandemic—has helped many lower-income households...

As federal and state policymakers grapple with mounting budget pressures, the prospect of sweeping cuts to the Medicaid program has sent shockwaves through healthcare systems across the United States. Experts warn that potential reductions totaling up to $25 billion could jeopardize access to essential services for approximately five million Americans, many of whom rely heavily...

Washington County has received a total of $3,413 in new tax relief funds as part of recent legislation championed during the Trump administration. This allocation aims to ease financial burdens on local residents and bolster community services amid ongoing economic recovery efforts. The funds, distributed through federal tax reform measures enacted in late 2017 and...

A potential $200 million funding cut slated for federal homeless assistance programs in 2026 has raised concerns among advocates, local governments, and service providers. The proposed reduction, part of broader budget negotiations, threatens to significantly diminish resources allocated to homelessness prevention, emergency shelter, and supportive services nationwide. With many communities already grappling with record-high homelessness...

The IRS has announced a notable increase in the Senior Deduction for taxpayers aged 65 and older, elevating it from $4,000 to $6,000 for the upcoming tax year. This adjustment offers a substantial financial benefit for older Americans, allowing eligible filers to reduce their taxable income by an additional $2,000. The change aligns with inflation...

Taxpayers in several states could see potential savings of $1,240 or more annually under upcoming changes to the SALT (State and Local Tax) deduction regulations. The new rules, which are set to take effect in the upcoming tax year, aim to provide relief for middle- and upper-income filers who have been limited by the previous...

Immigrant households across the United States are facing significant reductions in their Supplemental Nutrition Assistance Program (SNAP) benefits, with some communities experiencing cuts of up to $4,000 annually. These changes stem from new federal policies and state-level adjustments aimed at tightening eligibility criteria and imposing stricter work requirements. As a result, thousands of families relying...

The Internal Revenue Service (IRS) has announced that the monthly transit benefit cap for 2025 will be set at $325. This cap determines the maximum amount employees can exclude from their gross income when using pre-tax dollars to cover eligible public transportation and commuting expenses. The new limit represents a slight increase from the current...

The Supplemental Nutrition Assistance Program (SNAP), commonly known as WIC (Women, Infants, and Children), faces a critical funding cliff as federal support is set to expire within weeks. This looming deadline threatens to slash assistance for millions of vulnerable Americans, with some families potentially losing up to $440 per month in benefits. As policymakers debate...