Medical costs keep increasing, including insurance. A high-deductible plan, along with a tax-favored health savings account, could be the Rx, especially with the 2027 inflation adjustments.
Trump Accounts were designed to help young people get better returns on savings than the usual child’s piggy bank deposits. The tax-favored investment vehicle also now has its own app for easier access and management.
IRS Taxpayer Assistance Centers that are open on some Saturdays won’t have flashy signs like this. But their services will be available to taxpayers who can’t make weekday meetings. The next special weekend open day is May 30.
Emotions have always run high at spelling bees, as this Norman Rockwell painting shows. While this year’s Scripps National Spelling Bee competitors are facing off, it’s good time to brush up on tax terminology.
It’s graduation season. If you’ve got some high school or college graduates in your life and you don’t know what to get them, don’t despair. Here are seven financial gifts, some with tax benefits that the recipients (and in some cases, you, too) will appreciate.
You and your local property appraiser probably have different views of your home. You can appeal a real estate appraisal you believe is incorrect. Doing so could help lower your final property tax bill.
Gas taxes are a top concern of drivers right now. But if you’re pumping the fuel into a rental vehicle, that’s just one of many taxes you’ll face. Half your rental car bill may be taxes and fees, according to research by a tax policy group.
High gasoline prices have prompted talk of gas tax holidays, at both the federal and state levels. But the suspension of fuel excise taxes likely wouldn’t help drivers that much.
COVID was a major disruption in many parts of our lives, including taxes. Many Americans paid IRS penalties or interest during the 3½-year pandemic period. Now a federal court says those charges weren’t valid, meaning taxpayers could get the money back if they file a claim by July 10.
Children are expensive. So are higher education costs. But often these expenses coincide. Tax breaks can help both parents, students, and parents who are or were students.
May’s merriment may not seem synonymous with taxes, but this month is a great time to make some IRS-inspired moves. These three could get your 2026 tax situation on a money-saving track.
Owners of successful small businesses have to deal with a lot of challenges. Tax scams are a major threat. The latest schemes are again a focus during National Small Business Week 2026.
The Internal Revenue Service has sent more than 830,000 taxpayers a notice asking for their bank information so that their refunds can be directly deposited. But scammers also are sending out a fake IRS notice, seeking people’s bank data for nefarious purposes.
Welcome to the May 2026 collection of Tax Tips. I can’t guarantee they’ll make your tax tasks this month merry, but they could make them a bit easier and save you some money.
May
The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic.
June 3, 2026
Definitely take a break this June. But taxes don’t take vacations. So, you also should…
We made it. Tax Day 2025 is finally over. For most of us. When the filing season started on Jan. 26, millions who were expecting refunds filed immediately. Most of us got our returns to the Internal Revenue Service by April 15. But plenty of taxpayers also got extensions. They are looking at an Oct. 15 filing deadline.
Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.
But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.
The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.
And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)