A fresh look at the IRS updates every taxpayer should know
Tax season goes smoothly when you know what’s changed and why it matters. For residents and business owners in Greensboro and across North Carolina and nationwide, staying in the loop on the latest tax updates can save time, reduce stress, and help you keep more of what you earn.
Whenever you need help translating updates into action, NS CPA PLLC is here to support you with real expertise and personalized guidance.
The standard deduction is higher this year
The standard deduction has increased once again this year to adjust for inflation. That means more of your income may be shielded from taxes before anything is calculated.
For many individuals and families, this can result in a slightly lower tax bill or a higher refund, even if your income stayed about the same.
Learn more about how this might affect your return with our guidance on Tax Preparation Services.
The IRS is paying closer attention to side income
If you earned money outside of a traditional paycheck, this update is important.
The IRS continues to focus on side income and freelance earnings, including income from contract work, digital platforms, and self employment. This does not mean new taxes, but it does mean reporting accuracy matters more than ever.
Even small amounts of unreported income can delay your return or trigger notices. Making sure everything is reported correctly from the start can save time and stress later.
Explore how we assist with accurate reporting through our professional.
Some credits and deductions have shifted
Several tax credits and deductions were adjusted this year due to inflation and updated thresholds. These include credits related to dependents, education, and certain household or energy related expenses.
While not every change applies to every taxpayer, small adjustments can make a noticeable difference when added together.
This is where personalized guidance helps, especially if your family size, income level, or expenses changed during the year.
Filing early still matters
The IRS officially opened the filing season in late January, and filing early continues to offer benefits.
Early filers often receive refunds faster and have more time to resolve issues if something is missing. It also reduces the risk of tax related identity fraud.
If you expect a refund or want peace of mind, preparing early is often the smarter option.
Why local guidance makes a difference
Tax laws apply nationwide, but local knowledge still matters.
A CPA who works regularly with North Carolina taxpayers understands how federal rules interact with state considerations and common filing situations in Greensboro and surrounding areas.
How NS CPA PLLC can help you this tax season
At NS CPA PLLC, we keep up with tax law changes so you don’t have to. Our goal is to help individuals and businesses file accurately, avoid unnecessary issues, and make confident financial decisions.
Whether you’re filing a straightforward return or managing multiple income sources, we provide clear guidance tailored to your situation.
Discover how we can support with our year-round Tax Planning Services.
