Welcome to Greenback Talk's Tax Refund Tracker Page

 The One, Big, Beautiful Bill Act (OBBBA) (P.L. 119-21), signed July 4, 2025, is a major federal tax and spending  law. Key in 2026, it introduces new deductions for tips and overtime,  permanently extends TCJA tax rates, raises the SALT deduction cap to $40,000, and modifies student aid. It aims to reduce taxes, with an estimated $3,700 average reduction per filer. Key 2026 OBBBA Provisions:

• Tax Changes: Makes permanent many Tax Cuts and Jobs Act (TCJA) provisions, including the seven individual tax rates (10% to 37%) with 2026 inflation adjustments.
• SALT Deduction: The State and Local Tax (SALT) deduction cap is increased to $40,000 for married/single filers (2025–2029).
• Targeted Deductions (2025-2028): New deductions for qualified tips (up to $25,000) and overtime pay (up to $12,500/single, $25,000/joint).
• Standard Deduction: For 2025, it is $31,500 for married couples and $15,750 for singles.
• Personal Exemptions: Permanently removed, except for certain seniors.
• Student Aid: Changes to federal student aid programs take effect July 1, 2026.
• Social Security: A new senior deduction is introduced, though it does not eliminate taxes on benefits