New Tax Benefits for 2026

Higher deductions and fresh write-offs may mean a larger refund this filing season. Cherdchai101/ShutterstockTax season is upon us. It is not, however, the best time of year for many Americans across the country. But some people may find a bit of relief this time around. That’s because President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law, introducing some new benefits that may help some people lower their taxable income. This could reduce their tax bills or increase their refunds. Note that the bill was passed in 2025, so some provisions would affect your 2025 taxes, which you’d be filing this year in 2026. And keep in mind that the tax filing deadline this year is April 15.So let’s take a closer look.Higher Standard Deduction Most people who file their taxes end up taking the standard deduction. In fact, nine out of 10 people do.