3 stories from the week to October 26, 2025, in the order they matter to someone who pays the top rate.
October 24, 2025 at 11:34 AM PDT
High earners will pay Social Security tax on $8,400 more of wages next year, costing up to $521 each for employee and employer. Retirees get a 2.8% raise that can nudge more benefits into taxable income.
Payment apps and online marketplaces need not issue a 1099-K unless a payee tops both $20,000 and 200 transactions. Fewer forms change what the IRS sees, not what counts as taxable income.
New IRS FAQs explain how the July tax law cuts off unpaid Employee Retention Credit claims for late 2021 filed after Jan. 31, 2024, while a longer assessment period keeps paid claims open to review.
General information, not tax, legal or investment advice.