Tax pros weigh in on how the IRS tax filing season is going | CNN Business

The IRS is operating with roughly 27% fewer employees this tax filing season than it did last year. And, last July, a major new tax law took effect, containing many new provisions affecting individuals for tax year 2025. We checked in with some tax professionals to get a read on how the filing season has been going so far, both for them and for their clients. No tax on overtime. No tax on tips. No tax on Social Security. That’s how three new tax breaks have been pitched to the public by politicians. The only problem? The “no tax” part is incorrect. Take Social Security. “The new law did not change the taxability for Social Security,” Tom O’Saben, director of tax content for the National Association of Tax Professionals, said in a press call. What it did was offer anyone over 65 – regardless of whether they get Social Security benefits – an additional deduction of up to $6,000 ($12,000 for joint filers), subject to income limitations. As for tips and overtime income, the new breaks are deductions that only reduce the tax owed on that income by a percentage. And the break only applies to “qualified” tips in certain industries and only a portion of one’s “quali

Mar 10, 2026 → Mar 10, 2026