It’s also the time of year when the IRS and tax professionals start gearing up for the next tax year and filing season. That’s especially true in years like this one when new tax laws mean big changes at the agency. 

My family teases me for being such a big tax geek, but I love all of that energy. Nobody in my household was the least bit surprised to see me, cup of coffee in hand, settled in on the sofa, reviewing the projected tax brackets and inflation-adjusted amounts for 2026.

Those numbers–which were released by Bloomberg Tax & Accounting this week–reflect slightly higher numbers as compared to 2025. Those bumps will push out deduction limitations and result in upward adjustments to tax brackets and increases to other key thresholds. Throw in changes as a result of the One Big Beautiful Bill Act (OBBBA) passed in July, and your 2026 return may look a little different than before. You can check out their predictions here.

Those numbers include not only tax brackets, but penalties for late returns, tax delinquencies, and missed forms and returns. You can see those compliance numbers, including tax preparer penalties here.

And while these are just predictions–the official IRS numbers likely won’t be out for a month or so–you can use them as a guide for your upcoming tax planning. The folks at Bloomberg have been gracious enough to send the numbers over to me for years, and they are almost always on the nose.

Tax brackets and inflation-adjusted numbers aren’t the only changes we expect to see over the next few months. Tax forms are changing, too. 

At the top of what’s new? The big one. There will be changes to Form 1040 for 2025, including new Schedule 1-A, Additional Deductions. You’ll use that form to calculate new deductions for tips, overtime, car interest, and seniors. You can find out more, including some examples with numbers, here.

When calculating the tips deduction on Schedule 1-A, you’ll want to refer to the (also new) traditionally tipped list. As with the forms, the Treasury has already put out a draft–in case you missed it, you can check here to see which jobs made the list. It’s already generated a lot of conversation, including whether “digital content creators” was intended to cover those who post adult content on accounts like OnlyFans.

As a reminder, there will be no changes to Form W-2 for the tax year 2025, even though some provisions–like the tips deduction–apply to this tax year. The IRS has previously said that the omissions are "intended to avoid disruptions during the tax filing season and to give the IRS, business and tax professionals enough time to implement the changes effectively.”

There will be changes to Form W-2 for the tax year 2026. You can get a first look here.

Not all of the changes coming out of the IRS take effect in a few months. With just a few days to go before the deadline for third-quarter estimated payments, some taxpayers have encountered a nasty surprise: Mailing addresses for Form 1040 payments and estimated tax payments (Form 1040-ES) have changed. The change is effective immediately which means it applies to those estimated payments due on September 15, 2025. 

Also happening soon? The IRS has announced plans to close nine Taxpayer Assistance Centers (TACS) in six states—California, Iowa, Kentucky, New York, Pennsylvania, and West Virginia. In fiscal year 2023, the IRS had 1.6 million face-to-face meetings with taxpayers at these TACs. Unless changes are made, the closures will be effective November 30, 2025. 

I expect that tax news, including changes related to OBBBA, will continue to make news as we approach the end of year. But, there’s no need to worry–at Forbes, we’ve got you covered. 

Enjoy your weekend,

Kelly

I lost my refund check before I could deposit it. How do I get a new one?

If you have lost your refund check, you need to get in touch with the IRS. Officially, you’ll make what’s referred to as a refund trace. The IRS uses refund traces to track lost or stolen checks or verify whether a check was deposited. 

If you filed as single, married filing separately, or head of household, you can request a refund trace with Where’s My Refund or by phone (800.829.1040). 

If you filed a married filing jointly return, you can’t initiate a trace using the automated systems. For those taxpayers—and those who prefer to send in a form rather than call—you’ll need to complete Form 3911, Taxpayer Statement Regarding Refund.

If the check wasn't cashed, the IRS will cancel the old check and send you a replacement check.

However, if the refund check was cashed, you’ll receive a claim package that includes a copy of the cashed check. You’ll need to follow the instructions for completing the claim package. The Bureau of Fiscal Services will review your claim and determine whether it can issue you a replacement check. 

Your best bet? Consider direct deposit. It’s fast and easy—and less likely to get lost. It’s also increasingly your only choice. The federal government must stop issuing paper checks in favor of direct deposit, prepaid cards, or other digital payment options—that’s according to an Executive Order signed by President Donald earlier this year. 

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Not every bet is a safe one. According to the AGA, when it comes to sports betting in America, it’s legal in just thirty-nine states and the District of Columbia.

With that amount of money being wagered, there are bound to be bad actors. IRS-CI investigates a variety of offenses tied to illegal gambling and encourages U.S. taxpayers to be smart when placing bets.

Importantly, you should never accept payments to place bets for someone else or gamble to hide the source of funds—you might find yourself involved in a money laundering scheme like one that ended in numerous plea agreements. Overall, ten men pleaded guilty to managing a multimillion-dollar sports betting operation referred to as RED44. The government estimated that the organization accepted more than $2 billion in wagers while RED44 was operational.

How did the feds find out about RED44? An anonymous letter was mailed to local police and federal agencies, accusing individuals of gambling and triggering an investigation.

For one, the Department of Justice continues to press denaturalization cases against U.S. citizens who obtained their status by fraud or misrepresentation. While the classic grounds for denaturalization include concealment of criminal histories or material lies in the naturalization process, there are growing indications that serious tax fraud may be viewed as evidence that naturalization was procured illegally or fraudulently. Specifically, misrepresentations regarding past conduct, including fraudulent conduct in financial affairs, may be seen as undermining the requisite “good moral character” for naturalization.

Also, in mid-August, the U.S. Citizenship and Immigration Services (USCIS) issued a memorandum broadening its framework for evaluating “good moral character” in naturalization cases. Previously, the analysis relied heavily on a checklist of statutory bars: certain crimes, false testimony, or failure to support dependents would automatically disqualify an applicant. The new policy retains those prohibitions but also emphasizes that the “totality of the circumstances” must be weighed.

The precise role of tax compliance is not spelled out in the memorandum, but its significance cannot be overstated. Annual tax filings and information returns are not like isolated traffic offenses or lapses in judgment–tax compliance is continuous and measurable and can be symbolic of civic responsibility.

That means proactive tax compliance planning is more important than ever, including ensuring current compliance by filing all required returns, paying any outstanding liabilities, and meeting foreign asset and accounts information reporting obligations. Seeking professional guidance early is key so that strategies can be examined and coordinated effectively.

(You can find out more about the IRS’ data sharing agreement with the Department of Homeland Security in the most recent episode of Tax Notes Talk.)