2026 Key Tax Law Updates — One Big Beautiful Bill Act New Provisions

Nothing is worse than a client asking about a new tax update and you can't answer it correctly. The One Big Beautiful Bill Act changed a lot, new deductions, modified credits, updated thresholds, and major shifts in tax law that took effect in 2026. Trying to keep track of all of it in your head during a client conversation is a setup for failure.

The 2026 Key Tax Updates OBBBA Reference Sheet puts major changes from the One Big Beautiful Bill Act in one place, tips deduction, overtime deduction, SALT cap update, senior deduction, Child Tax Credit, bonus depreciation, 1099 thresholds, and more. Print it out, laminate it and keep it at your desk. It's the fast-reference tool every preparer need for this filing season.

What's covered:

• All 2026 standard deduction amounts by filing status
• Updated tax brackets — all 7 rates made permanent
• Child Tax Credit — $2,200 per child, $1,700 refundable portion
• New above-the-line deductions: qualified tips ($25,000), qualified overtime ($12,500 Single / $25,000 MFJ), senior deduction ($6,000), auto loan interest
• SALT cap — $40,400 MFJ / $20,200 MFS (permanent)
• EIC maximum — $8,231 (3+ children)
• Section 179 — $2,560,000 limit, $4,090,000 phase-out
• Bonus depreciation — 100% permanent
• QBI deduction — 20% permanent
• 1099-K threshold — 200 transactions AND $20,000
• 1099-NEC/1099-MISC threshold — $2,000 (was $600)
• Estate tax exemption — $15,000,000
• AMT exemption updates
• Foreign Earned Income Exclusion — $132,900

Perfect for: tax preparers, enrolled agents, CPAs, AFSP candidates, 2026 tax law updates, OBBBA reference sheet, continuing education, tax law changes 2026, federal tax updates, tax preparer study guide.

File format: PDF Tax Year: 2026 Source: Rev. Proc. 2025-32; P.L. 119-21 (OBBBA) Provider: Tax IQ Academy | taxiqacademy.com