The Weekly Brief: September 7, 2026
The second of the three COLA numbers lands on Friday, a third of a million Jeeps go back over their rear springs, and the tips deduction turns out to come with a list of 71 jobs.
Topic
Taxes
Tax brackets, credits and the figures the IRS adjusts each year.
The Internal Revenue Service adjusts dozens of figures for inflation each autumn: tax brackets, the standard deduction, retirement contribution limits, the earned income credit and the gift tax exclusion among them. They arrive in a revenue procedure, usually in late October, and take effect for the following tax year.
Two new deductions now sit alongside them. The 2025 law created deductions for qualified tips and for the premium half of overtime pay, each capped, each phased out above $150,000 of income, and each running only through the 2028 tax year.
Refund timing is the other half of the subject. The filing season opening date, the statutory hold on returns claiming the earned income credit or the additional child tax credit, and the deposit schedule that follows all decide when money actually arrives.
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Everything filed under Taxes
No tax on tips and overtime, explained
Both are capped deductions for four tax years, not an exemption from tax. What counts, the 71 occupations Treasury listed, the income limits, and the tax that still comes out of the check.
Child tax credit 2026: $2,200 per child
The 2025 tax law made the larger credit permanent and set it at $2,200. What that means on a 2026 return, who qualifies, and why part of it arrives in late February.