Current Tax News
2026 Tax Deadlines
**all due dates listed below assume fiscal year-end 12/31**
S-Corporations (Form 1120-S), Partnerships (Form 1065)
Original due date: March 16, 2026
Extension due date: September 15, 2026
Individuals (Form 1040), C-Corporations (Form 1120)
Original due date: April 15, 2026
Extension due date: October 15, 2026
Trusts & Estates (Form 1041)
Original due date: April 15, 2026
Extension due date: September 30, 2026
Nonprofits (Form 990)
Original due date: May 15, 2026
Extension due date: November 16, 2026
2026 Estimated Tax Payment Due Dates
Q1: April 15, 2026
Q2: June 15, 2026
Q3: September 15, 2026
Q4: January 15, 2027
“One Big Beautiful Bill” Act
Congress recently passed the “One Big Beautiful Bill Act”, a sweeping tax reform package that affects nearly every taxpayer—individuals and businesses alike. While many of the provisions may provide new opportunities for tax savings, they also introduce new reporting requirements and added complexity to the preparation process.
THE HIGHLIGHTS:
INDIVIDUALS
SALT Cap increase to $40,000
No federal tax on SOME tips and SOME overtime
Additional $6,000 standard deduction available for seniors
Electric Vehicle and Residential Energy Credits expiring in 2025
Child tax credit increased to $2,200 per child
New car loan deductions for US-assembled vehicles
Increase in Estate & Gift Tax Exemption
BUSINESSES
R&D Expensing Restored
100% Bonus Depreciation Extended
Reporting threshold for 1099s increased to $2,000 from $600
Section 199A (QBI) pass-through deduction now permanent
HELPFUL LINKS
Very concise, readable article
(The Tax Foundation - good source, more opinion-based)
PDF - Extremely detailed comparison chart