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Overview: Tax Year 2025

For references only

Key Updates: New Tax Provisions for 2025

# Effective Years Items Summary Notes
1 Effective for 2025 through 2028 Additional Deduction For individuals aged 65 and older: $6,000 per person, $12,000 for married couples. Other considerations may apply.
2 Effective for 2025 through 2028 Car Loan Car loan interest deduction: maximum annual $10,000 per year. Applicable for personal use. Other considerations may apply.

Sources: The IRS, and OBBBA



Tax in the news from the IRS
Date: Jan 8th, 2026

The Internal Revenue Service (IRS) announced that Monday, January 26, 2026, will mark the official opening of the filing season for 2025 individual income tax returns. The deadline to file 2025 individual income tax returns, and to pay any tax due is Wednesday, April 15, 2026.

Filing for certain business tax returns will begin earlier, in accordance with applicable IRS deadlines.



Tax in the news from IL
Date: Jan 8th, 2026

Illinois has the same due date as the IRS for filing your 2025 individual income tax return, and paying any tax due.

Date: Jan 26th, 2026

Update from IDOR for Tax Filing Season 2026
The Illinois Department of Revenue (IDOR) will begin accepting [2025] individual income tax returns today Monday, January 26, the same day the IRS opens the federal filing season.

Date: Jan 26th, 2026

Update from IDOR for Tax Filing Season 2026 below

Important USPS Postmark Changes
The USPS now uses the date of first automated processing as the postmark, not the drop-off date. If mailing your return or payment:
Send it early
Request a manual postmark at the post office

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