The One Big Beautiful Bill created four brand-new deductions for the 2026 filing season — No Tax on Tips, No Tax on Overtime, Car Loan Interest, and the Senior Bonus. See your total new deduction and estimated federal tax savings in seconds. ✓ 2026 IRS figures
New deductions • Estimated savings
The One Big Beautiful Bill Act (OBBBA), signed July 2025, created four new deductions you can claim on your 2026 tax return — and the best part is most stack on top of the standard deduction, so you don't have to itemize.
No Tax on Tips: deduct up to $25,000 of qualified tips. No Tax on Overtime: deduct your overtime premium up to $12,500 ($25,000 married filing jointly). Both phase out above $150,000 MAGI ($300,000 joint). Car Loan Interest: deduct up to $10,000 of interest on a new, US-assembled personal vehicle, phasing out above $100,000 ($200,000 joint). Senior Bonus: an extra $6,000 per person 65+, phasing out above $75,000 ($150,000 joint).
This is an educational estimate, not tax advice — your actual benefit depends on your full return. Claim these on the new Schedule 1-A when you file for 2026.