JACKSONVILLE, Fla. – Tax experts are encouraging people to file their returns early this season while taking full advantage of tax credits and deductions available for the 2025 tax year.
Notable changes this year stem from President Donald Trump’s “One Big Beautiful Bill,” which increased standard deductions and boosted some tax credits. The two most common credits are the Earned Income Tax Credit and the Child Tax Credit.
“Those are big dollars now,” said Mark Steber, chief tax officer at Jackson Hewitt Tax Service.
The IRS said that the Earned Income Tax Credit is available for low to moderate-income earners, ranging from $649 for those with no qualifying children to $8,046 for taxpayers with three or more qualifying children.
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Steber noted that one in five people fail to claim this credit annually, calling it a missed opportunity.
The Child Tax Credit is now worth up to $2,200, a few hundred dollars more than last year, providing additional relief for families.
Steber also pointed out other provisions in the bill, including deductions for “No Tax on Tips,” “No Tax on Overtime,” and “No Tax on Car Loan Interest.”
Seniors have something to keep an eye on: a $6,000 senior deduction that does not require itemizing and is claimed on a separate form.
“There’s an adoption credit well over $10,000,” Steber said. “The money is real, and the benefits are real.”
Parents Franklin Frazier and Savannah Summers are preparing to file their taxes, sharing that they plan to claim the Child Tax Credit again this year.
“It’s nice to have the money for sure,” Frazier said.
Steber advised that if taxpayers have any questions on what they are eligible for, it doesn’t hurt to ask a tax expert.
“It really is in your best interest to pay attention to things that you do and things that you have going on because you might qualify for a nice fat tax credit that’ll put more money in your pocket,” Steber said.