New NY credits for 2026: child care credit and a tips break

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.

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) || 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.

IRS | Federal (IRS) || The IRS released its yearly inflation adjustments for tax year 2027. The standard deduction rises to $16,600 for single filers, $33,200 for married couples filing jointly and $24,925 for heads of household. The top 37% rate starts above about $661,000 for single filers and about $793,600 for joint filers.

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.

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.