How new laws and IRS moves are reshaping income taxes

This cluster tracks sweeping changes to U.S. tax policy as the 2026 filing season unfolds, from the 'One, Big, Beautiful Bill' promising an average $2,300 federal tax cut to proposals that could eliminate federal income taxes for roughly half of workers. States are rapidly redrawing their tax codes too, with Washington advancing a new income tax, Georgia updating its education tax credits, and Mississippi exempting college athletes’ NIL earnings from state income tax amid concern over impacts on schools and health care. At the same time, the IRS is tightening rules and modernizing outreach—proposing digital asset reporting regulations, spotlighting valuable credits for parents, reviewing whistleblower protections, and using social media and explainer content to help taxpayers navigate new brackets and rules.