Neighborhood Taxes and Services

01/07/2026

file your taxes with neighborhood taxes and services be entered in a drawing for $1000.

01/01/2026

Happy new year. The neighborhood taxes and services will begin schedule appointments for tax preparation for 2026 year (2025). Not only do we do w2 and self employment, we do non profit and corporations.

12/13/2025

2025 Tax Year Standard Deduction Update

The increased standard deduction from the Tax Cuts and Jobs Act is now permanent.

The standard deduction amounts are:

$15,750 for Single filers
$31,500 for Married Filing Jointly
$23,625 for Head of Household

There is also an additional increase of $1,500 for Married Filing Joint, $1,125 for Head of Household, and $750 for all other filers.

12/08/2025

https://www.irs.gov/newsroom/treasury-irs-provide-guidance-for-individuals-who-received-tips-or-overtime-during-tax-year-2025

New rule lets you deduct the “extra half” of your overtime pay from 2025 to 2028.
Quick facts:
• Deduction up to $12,500 (or $25,000 for joint filers)
• Phases out at $150,000 MAGI ($300,000 joint)
• Can be claimed even if you don’t itemize
• Must include your SSN
• Married couples must file jointly
Employers will also report your total qualified overtime to the IRS starting in 2025, and the IRS will offer transition relief as everyone adjusts.

IR-2025-114, Nov. 21, 2025 — The Department of the Treasury and the Internal Revenue Service today issued guidance for workers eligible to claim the deduction for tips and for overtime compensation for tax year 2025.