Tax season myths vs. facts: Here's what to know
Video Overview & Insights
The IRS will start accepting 2025 income tax returns on Monday. Several new tax breaks are on the table as part of President Trump's 'Big Beautiful Bill', impacting how many Americans prepare their taxes this year. CNBC's Sharon Epperson joins 'Squawk Box' with the details. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/42d859g
I like how this actually broke down the fine print instead of just repeating âno taxâ headlines. Those phaseouts are going to surprise a lot of people. I ended up contacting Tax Relief Advocates when my refund and withholding didnât line up one year and they walked me through a free initial consultation and a personalized plan to deal with an IRS balance. Having someone who understands how these new deductions really apply makes a big difference.
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Congress didn't give it to us.
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The people are getting g $3000 as a refund are having too much withheld
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No tax on tips and overtime is a distraction. They donât apply to everyone and are very limited.
Meanwhile, other benefits/deductions are being taken away.
The average American will likely be worse off.
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