Special Edition: What's Changed This Tax Season

The NewsWorthy

Erica Mandy

News, Daily News, Society & Culture

4.7 • 1.3K Ratings

🗓️ 28 February 2026

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tax season is here — and this year, it looks different.

A major new tax law just took effect, bringing changes that could impact millions of Americans filing their 2025 returns.

Andrew Lautz, Director of Tax Policy at the Bipartisan Policy Center, joins us to explain what's new, what could be confusing, and what it all means for you.

We also zoom out to discuss federal revenue, IRS funding, President Trump's lawsuit against the IRS, and why all of it is making this one of the most closely watched filing seasons in years.

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Transcript

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0:00.0	Today is Saturday, February 28th. Tax season is here, and this year it looks different. A major
0:05.0	new tax law just took effect with changes that could impact millions of Americans as they file
0:09.0	their 2025 returns. At the same time, the IRS is operating with fewer staff and tighter funding,
0:14.9	all while processing what's expected to be one of the most closely watched filing seasons
0:19.1	in years. So today, we're joined by Andrew Lutz,
0:22.2	director of tax policy at the Bipartisan Policy Center. He walks us through what's new,
0:26.7	what could be confusing, and what questions you may want to ask your tax preparer before you file.
0:31.2	We also talk about the bigger picture, what these tax cuts mean for federal revenue, what's
0:35.6	happening with IRS funding and staffing, and even
0:38.1	President Trump's lawsuit against the agency. And why this filing season is being watched so
0:42.8	closely in Washington. Welcome to the Newsworthy special edition Saturday, when we sit down with a
0:49.6	different expert or celebrity every Saturday to talk about something in the news.
0:53.3	Don't forget to tune in every
0:54.3	Monday through Friday for our regular episodes where we provide all the day's news in less than 15
0:59.4	minutes. I'm Erica Mandy. It's now time for today's special edition Saturday.
1:06.2	Andrew Lutz, thank you so much for joining us here on The Newsworthy. Thanks so much for having me.
1:10.8	So let's just dive right into a couple of the top or major changes that Americans should know about as they get their 2025 taxes ready to file.
1:19.5	This is a big tax filing season because Republicans in Congress and President Trump signed into law, the one big beautiful bill act. And as a result of that,
1:29.0	the law made several changes that were essentially retroactive to January 1st, 2025. And policymakers
1:35.2	did that because they wanted taxpayers to be able to claim some new deductions and credits this
1:40.6	year. And so a couple of highlights are a larger standard deduction. This is what
1:45.1	85 to 90 percent of taxpayers take when they file their federal taxes. That's $750 larger for a
	...

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