Wasden Group, LLC

02/27/2026

Use it. But give them time to process your return.

02/27/2026

2026 Tax Season Update – Read This Before You File
You’ve seen the headlines about the “Big Beautiful Tax Bill.” Here’s what that actually means for you:
✔️ Overtime Deduction – Not “tax-free overtime.” It’s a deduction with limits and documentation requirements.
✔️ Tip Income Deduction – Available within income limits. Proper reporting matters.
✔️ Senior Deduction – Up to $6,000 per Social Security recipient (subject to eligibility rules).
✔️ Newborn Savings Credit – $1,000 for babies born 2025–2028 (structured with specific qualifications and phase-outs).

These are not automatic giveaways. They require correct forms, correct income reporting, and proper documentation.
Major Change:

The IRS is phasing out paper refund checks. If you don’t have direct deposit, refunds could be delayed.

10/15/2025

Changes in 2025 for tax filing year 2025

No tax on tips

No tax on overtime

New car loan interest deduction

Bonus Depreciation: Now 100% for assets placed in service after January 19, 2025.

Section 179 Expense Limit: Increased to $2,500,000, with phase-out beginning at $4,000,000.

Standard Deduction:

Married Filing Jointly (MFJ): $31,500

Head of Household (HOH): $23,625

Single or Married Filing Separately (MFS): $15,750

Child Tax Credit (CTC): Updated to $2,200.

SALT Limitation: Increased to $40,000 (reduced by 30% of the amount by which the taxpayer’s AGI exceeds $500,000).

Additional Deduction for Age 65+: $6,000.

Additional Depreciation Elections: A check box For assets placed in service after January 19, 2025, apply the transition rules

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09/25/2025

The IRS will not issue paper check refunds starting 2026.
You must have a bank account to get your refund.
We will print refund checks in our office and have debit cards available. If you don't have any available bank account.

08/12/2025

Please contact us for appointments to complete your tax returns. Extensions are due on October 15, 2025.

For individual income tax filers, the deadline to file a federal income tax return for the 2024 tax year was generally April 15, 2025. However, some taxpayers may have qualified for an extension of this deadline.
Filing for a general extension
If you needed more time to file, you could request a six-month extension using Form 4868, which extended your filing deadline until October 15, 2025.
Important note: An extension to file does not grant an extension to pay. Any taxes owed were still due by the original April 15, 2025 deadline to avoid potential penalties and interest.

07/14/2025

The IRS’s examination plan to ensure that Inflation Reduction Act (IRA) funding was used to increase enforcement on high-income taxpayers with complex tax filings and high-dollar noncompliance, while not increasing enforcement on households and small businesses earning under $400,000.

The IRS's FY 2024 examination plan shifted focus towards auditing high- income individuals, aligning with the 2022 Treasury Directive. Planned audits for high income taxpayers in the Small Business/Self-Employed (SB/SE) and Large Business and International (LB&I) divisions were nearly 2.5 times higher than the average from FY 2019-2023. Notably, audits for taxpayers earning under $400,000 did not increase, keeping the IRS on track to meet the directive's goal of avoiding higher audit rates for lower income earners.