IRS sets 2027 tax brackets and a higher standard deduction

NY Tax Department | New York State || New York is mailing one-time energy rebate checks of $100 to $200 to full-year residents who filed a 2024 IT-201 return on time and met the income limits. Checks are mailed over several weeks to the latest address on file. There is no application and no online status tool.

IRS | Federal (IRS) || The IRS reminded paid tax preparers to renew their Preparer Tax Identification Numbers before the 2027 filing season. Anyone paid to prepare federal returns must have a current PTIN.

NYC Finance | New York City || New York City now applies a surcharge to certain homes that are not the owner’s main residence: one- to three-family homes valued above $5 million and condo or co-op units valued at $1 million or more. NYC Finance has an online eligibility guide for owners.

Federal Student Aid | Student aid || The 2027–28 FAFSA opened ahead of the October 1 launch date. Students can now see their estimated Pell Grant and federal aid eligibility right after submitting, and the federal filing deadline is June 30, 2028.

IRS | Federal (IRS) || Starting with payments made in 2026, businesses generally send a Form 1099-NEC or 1099-MISC only when they pay someone $2,000 or more in the year, up from $600. The 1099-K threshold for payment apps is back to $20,000 and 200 transactions.

IRS | Federal (IRS) || The IRS is encouraging taxpayers to secure their IRS online accounts and sign up for an Identity Protection PIN, a six-digit code that stops anyone else from filing a return with your Social Security number.