With an expected historic refund season on the horizon, new law brings major shifts to credits, deductions, and planning for families and small businesses.
HURST, TX / ACCESS Newswire / December 15, 2025 / With the newly passed OBBBA ushering in some of the most significant tax changes in years, Liberty Tax® is stepping up to ensure local taxpayers don’t miss out on valuable new savings. The company is offering free OBBBA Tax Impact Consultations, designed to help families, workers, and small business owners understand, and maximize the law’s many new deductions and credits.
“The OBBBA represents one of the largest updates to the tax code in over a decade,” said Scott Terrell, CEO of Liberty Tax. “These new rules can be confusing, but our offices are staffed with local experts who understand exactly how these changes affect real families and small businesses.”
What the OBBBA Means for Taxpayers
The new federal law includes a powerful mix of permanent tax cuts and temporary money-saving opportunities:
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Individual Tax Rates & Standard Deduction
The current rate brackets (10%, 12%, 22%, 24%, 32%, 35%, and 37%) are made permanent, along with the nearly doubled standard deduction that many taxpayers have used in recent years. -
Child Tax Credit
A boosted $2,200 Child Tax Credit per qualifying child, with future inflation adjustments beginning in 2026. -
New Temporary Deductions (through 2028) – even for many non-itemizers
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Up to $25,000 for certain “qualified” tip income
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Up to $12,500 for “qualified” overtime pay (up to $25,000 for joint filers)
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Up to $10,000 of interest on new auto loans for U.S.-assembled vehicles
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An additional deduction of up to $6,000 for seniors age 65 and older
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State and Local Tax (SALT) Deduction
This is especially important for taxpayers in higher-tax areas or with significant property taxes. The SALT deduction cap is temporarily raised to $40,000 (from $10,000) through 2029, with a small annual increase, before it is scheduled to drop back to $10,000 in 2030. -
Small Business & Self-Employed Expensing
The OBBBA makes key business provisions permanent, including 100% bonus depreciation for qualifying equipment and immediate expensing of domestic research and development (R&D) costs-changes that can significantly affect cash flow and tax planning for small businesses. -
Clean Energy & Other Credits
Many clean energy tax credits from the Inflation Reduction Act, including credits for some electric vehicles and residential clean energy systems, are being repealed or phased out, potentially changing the value of certain purchases going forward. -
“Trump Accounts” for Minors
The law creates a new type of tax-advantaged savings account for children, sometimes referred to as “Trump Accounts,” with a potential one-time $1,000 government contribution for eligible children born between 2025 and 2028.
“The OBBBA impacts every household differently,” said Scott Terrell. “That’s why sitting down with a Liberty Tax expert for a one-on-one review is essential.”
A potential Record-Breaking Refund Season Ahead
Financial analysts, economist and federal reports point to a massive surge in tax refunds for 2026, driven by no inflation adjustments to withholdings tables, expanded credits, and many changes to the tax code. As highlighted by the House Ways and Means Committee:
“2026 tax refunds projected to be largest ever” and tax filers could see refunds averaging roughly $1,000 higher than last year… setting the stage for a potentially record-breaking refund season.**
Free OBBBA Tax Impact Consultations: Your Personalized Savings Snapshot
To support local taxpayers, Liberty Tax is offering a complimentary consultation focused specifically on the OBBBA. During this session, our tax professionals will:
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Review your 2024 tax situation and how it may change for the 2025 filing season
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Identify which new deductions or credits you may qualify for under the OBBBA
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Discuss how the changes may affect your refund, balance due, or estimated taxes
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Help small business owners understand new expensing and planning opportunities
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Outline next steps and documents to gather before filing your return
Consultations are available by appointment and, in many locations, on a walk-in basis. For more information or to book an appointment, contact Liberty Tax at (866) 871-1040 or visit www.LibertyTax.com. Tax filers who choose to partner with Liberty Tax will receive 5-star customer service along with year-round support and our accuracy guarantee.
About Liberty Tax
At Liberty Tax, our clients are looking for someone they can trust, a price they can afford, and to either owe less on taxes or get their largest possible refund. Our 12,000+ tax professionals across the United States offer free tax consultations, in-office and remote tax prep, and a variety of other services. Our offices average a 4.5-star rating on Google and 87% of all our reviews are positive. We’re committed to building long-term relationships and establishing ourselves as trusted tax experts for life. See why our customers choose us at: www.libertytax.com
The information provided herein is for general informational purposes only and it is not intended as legal, financial, or tax advice. Liberty Tax® and its franchisees are not responsible for any changes in tax law or individual eligibility for deductions or credits. Consult your Liberty Tax professional for guidance specific to your unique tax circumstances.
Contact Information
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SOURCE: Liberty Tax
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