The 2025 Form 1040 includes more than just routine updates. Under the One Big Beautiful Bill Act, taxpayers may qualify for new deductions, a larger cap on itemized deductions for state and local taxes, expanded education benefits, and changes to key credits. Here's what individual filers need to know.

Every mom and dad should be aware that investment income in a child's name could trigger the "kiddie tax" and be taxed at the parents' higher rate. From age rules to income thresholds to tax law changes, we explain what parents need to know when filing for 2025 and planning for 2026 and beyond.