The 2026 tax season begins January 26. New laws change how much you owe. A family earning $73,000 can now pay $0 in federal taxes. This happens because the standard deduction rose to $32,200 for couples. The Child Tax Credit also increased to $2,200 per child. Tips and overtime are now tax-free up to $25,000 each. Average refunds are hitting $4,000.
