3 things taxpayers should know before filing in 2026

Sponsored MoneyWatch: Managing Your Money 3 things taxpayers should know before filing in 2026 We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing roles at The Simple Dollar, Interest, HousingWire and other financial publications. Read Full Bio Angelica Leicht April 14, 2026 / 12:01 PM EDT / CBS News Add CBS News on Google Some changes may directly impact how much you owe to the IRS — or how much you get back — this year. Pla2na/Getty Images Filing taxes rarely feels like a straightforward process, but this year's tax filing season is shaping up to be particularly nuanced. With inflation now ticking up rapidly — recently clocking in at 3.3%, the highest it's been in nearly two years — and household debt levels hovering at new record highs, taxpayers are feeling the weight of the extra financial pressure, and many are now focused on maximizing their refunds or lowering the balances they owe to the federal government this year. At the same time, the Internal Revenue Service (IRS) has continued to adjust thresholds, deductions and enforcement priorities this year in response to both economic pressure and policy shifts. That means taxpayers filing their 2025 returns may find that what were once familiar tax rules don't apply in quite the same way, especially when it comes to deductions, credits and reporting requirements. And, these tax changes could have an outsized impact on the refunds or balances owed.All of this comes as many filers look to maximize returns or minimize what they owe amid rising livin...