The federal tax credit for home EV chargers expired on June 30, 2026. The credit covered 30% of the cost of equipment and installation, up to $1,000, but you had to buy and install the charger by the deadline to qualify.
The IRS standard mileage rate for business driving changed mid-year in 2026. From January through June, the rate was 72.5 cents per mile. From July through December, it rose to 76 cents per mile. The IRS raised the rate because of higher gas prices.
Congress is unlikely to suspend the 18.4 cents-per-gallon federal gasoline tax, according to Joy Taylor, editor of The Kiplinger Tax Letter. Some Republican lawmakers have called for a temporary suspension, but many other lawmakers oppose it, saying it will not lower gas costs enough. Others worry about the Highway Trust Fund, which relies mainly on federal gas tax revenue and faces financial pressure.
Winnings from online sports betting are taxable as gambling income. This applies to fantasy football leagues with cash prizes and bets on events like the Super Bowl or basketball games. Report winnings on Schedule 1 of Form 1040. If you itemize deductions on Schedule A, you can deduct gambling losses, but only up to the lesser of 90% of your losses or your gambling winnings. Gamblers with extensive gambling activity may file Schedule C as a trade or business, though this is difficult to establish.