Tax changes are coming in 2026, impacting taxpayers, especially the middle class. Federal and state levels are seeing shifts, with states looking to increase sales tax rates and expand taxable products/services. New federal law brings changes to child tax credit, charitable contributions, and state/local tax deductions, with some deductions set to expire after 2029. Some deductions are temporary, while tax brackets and standard deduction remain the same. States are not expected to make major tax system changes in 2026. 1. The stock market saw a significant drop today, with the S&P 500 falling 2.5% and the Dow Jones Industrial Average down 3%. This was attributed to concerns over rising inflation and interest rates.

2. A new study revealed that 87% of Americans are not saving enough for retirement. The average person has only saved $10,000, significantly below the recommended amount. Experts are urging people to start saving more aggressively to avoid financial struggles in old age.

3. The CDC reported a record number of flu cases this season, with over 20 million people infected. Hospitals are experiencing overcrowding and shortages of flu vaccines. Health officials are reminding the public to take precautions such as getting vaccinated and practicing good hygiene.

Read more at Yahoo Finance: What the Middle Class Should Know About Tax Changes in 2026