Mid-Valley Accounting Services

05/01/2026

Immediate 2026 Tax & Benefit

ChangesHigher Wage Base Limit: The maximum amount of earnings subject to the 6.2% Social Security payroll tax increased to $184,500 in 2026, up from $176,100 in 2025.Cost-of-Living Adjustment (COLA): A 2.8% increase began in January 2026, adding roughly $56 per month to the average retiree's check.New Senior Deduction: Eligible taxpayers aged 65+ can claim a new $6,000 deduction ($12,000 for joint filers) through 2028, potentially lowering or eliminating taxes on their benefits.

Published by Daily news article

01/12/2025

Get your forms filed!

11/22/2024

It is getting to be that time again. Gather and organize tax documents.

Having well-organized tax records can make filing a complete and accurate return easier and help avoid errors that can delay refunds. This may also help identify deductions or credits that may have been overlooked.

Most income is taxable, including unemployment compensation, refund interest and income from the gig economy and digital assets. Taxpayers should watch for and gather essential forms, such as Forms W-2, Wage and Tax Statement, and other income documents.

It’s also important to notify the IRS of any address changes and the Social Security Administration of any legal name changes.

Check withholding before the end of 2024

The IRS has recommended that you check you withholding on their website. Per the

Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.

10/31/2024

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04/04/2024

Friday’s Special @ Skeeter’s