Trump Tax Season: 10 Major Tax Changes to Expect When Filing This Year
The Motley Fool
by newsfeedback@fool.com (Bram Berkowitz)February 22, 2026
AI-Generated Deep Dive Summary
The Trump administration's recent tax changes are making waves as individuals prepare for the 2025 tax season. The One Big Beautiful Bill (OBBB), passed last year, aims to extend the 2016 tax cuts permanently and introduce new benefits. Taxpayers can expect significant updates when filing their returns this year, including a notable increase in average refunds—up by 22% according to IRS data.
The OBBB's primary objectives were to simplify the tax code and provide long-term stability for previously temporary tax provisions. This shift is particularly evident in the changes to itemized deductions, which have been streamlined to reduce complexity. Additionally, the bill introduces new incentives for certain industries and adjustments to tax rates, ensuring that the benefits of the 2016 tax cuts remain intact.
For finance enthusiasts and investors, these changes are crucial as they directly impact personal finances and investment strategies. The extended tax cuts and simplified filing process aim to provide greater clarity and relief for taxpayers. As individuals navigate this new landscape, understanding these updates will help them maximize their financial benefits and make informed decisions for the future.
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Originally published on The Motley Fool on 2/22/2026