Liberty Tax(R) Offering Free Consultations to Help Taxpayers Navigate OBBBA Changes Ahead of an Expected Record Refund Season

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:

• 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

  • Up to $25,000 for certain "qualified" tip income

  • Up to $12,500 for "qualified" overtime pay (up to $25,000 for joint filers)

  • Up to $10,000 of interest on new auto loans for U.S.-assembled vehicles

  • An additional deduction of up to $6,000 for seniors age 65 and older

• 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.