SPRINGFIELD, MA (WGGB/WSHM) - Tax filing season is now just days away, and there’s some new tax benefits this year that could put some more money back in your pockets. Western Mass News is getting answers on what you need to be aware of, and how much money you could be saving.

“There’s always a lot of changes, but these ones are significant and will affect the majority of the taxpayers that are out there,” said Ray Maagaro at Liberty Tax.

The end of January means the start of tax filing season, but this year is looking a little different than in years past. It might add up towards your refund check. Tax Expert Ray Maagaro said it’s mainly in part to President Trump’s “One Big Beautiful Bill.”

“People should see their refunds up substantially, or their tax liability will be decreased substantially, depending on the situation,” said Maagaro. There are dozens key changes that people need to be aware of; A handful include no taxes on overtime for up to $12,500 per person, and no tax on tips up to $25,000 per person.

Maagaro explained that you’ll have to be aware of other changes besides those. There’s a senior deduction worth $6,000, which was in lieu of the no tax on social security. You’ll also be allowed to deduct real estate taxes, plus state and local income taxes.

Be aware if you bought a new car in the past year, had a child, or if you’re a small business owner, it’s likely your taxes will be looking a little different too. Now, regardless of if you plan on filing for yourself or through a professional, you will need to file all the proper paperwork.

And be prepared, there’s already changes planned for next year having to do with gambling, cryptocurrency, and more. As of right now, just make sure your paperwork is in by April 15th.

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