Software Updates
Stay current with the latest software updates from Fin CW. From regulatory changes such as the impact from the One Big Beautiful Bill Act (OBBBA) and IRS guidance to user-driven refinements, this page keeps you informed about new features, rule implementations, and behind-the-scenes upgrades designed to enhance your retirement planning experience.
July 10th, 2025 – Income Tax Form Update to the Standard Deduction & Age 65 Deduction
Break Analytics has been updated to reflect the latest provisions of H.R.1 – One Big Beautiful Bill Act (OBBBA), which made several tax reforms permanent. Click to read more.
2025 Standard Deduction Amounts:
- Single Filers: $15,750
- Head of Household: $23,625
- Married Filing Jointly: $31,500
2026 Standard Deduction Preview (Inflation-Adjusted):
- Single Filers: $16,000
- Head of Household: $24,000
- Married Filing Jointly: $32,000
Additional Deduction for Age 65+:
- Single or Head of Household: $2,000
- Married Couple (One spouse age 65+): $1,600
- Married Couple (Both age 65+): $3,200
Note: Adjustments are expected annually, generally in $50 increments.
Additional Aged Based “Senior Deduction”
Adjusted calculations to reflect the phase-out of the additional age-based “Senior Deduction,” available through 2028. This deduction is separate from the standard deduction and is applied after adjusted gross income (AGI) is determined, subject to income-based phase-outs.
$6,000 Age 65+ Senior Deduction Phase Out Range
- Single Filers
- Full deduction: MAGI under $75,000
- Partial deduction: MAGI $75,000 – $175,000
- No deduction: MAGI over $175,000
- Joint Filers
- Full deduction: MAGI under $150,000
- Partial deduction: MAGI $150,000 – $250,000
- No deduction: MAGI over $250,000
These changes are now implemented across all Break Analytics modules utilizing the Income Tax Form.
July 7, 2025 – Removal of TCJA Expiration Scenarios
Removed “what-if” scenarios related to the sunset of the Tax Cuts and Jobs Act (TCJA). Break Analytics reflects current tax brackets and deduction limits aligned with enacted legislation.
March 2025 – Roth Conversion: “Bracket Ride” Functionality
Added the ability to design strategic Roth conversions within marginal tax brackets, helping users optimize conversion timing and amounts.
February 2025 – CREST Enhancement
Enhanced CREST to:
- Illustrate Qualified Charitable Distributions (QCDs) from both the owner’s and spouse’s IRAs
- Support QCDs from a beneficiary’s Inherited IRA
- Enable pro-rata Roth conversions for both owner and spouse
January 1, 2025 – Annual Update: Calendar Year Transition
Completed annual QA and testing processes to transition all calculations to the 2025 calendar year.
November 2024 – IRS releases 2025 tax brackets
Updated all impacted modules with the 2025 tax bracket thresholds.
August 1, 2024 – IRS Final RMD Regulations
Updated Inherited IRA calculations and educational materials to reflect the IRS July 2024 final regulations.
- Clarified treatment of minor children of IRA owners as hybrid Eligible Designated Beneficiaries (EDBs)/Designated Beneficiaries (DBs).
They must take RMDs after turning age 21 regardless of the IRA owner’s Required Beginning Date (RBD) status.
- Successors of EDBs are always subject to RMDs, as the EDB was taking life expectancy distributions.
Spouse Inherited IRA Calculator Update:
For IRA owners who reached RMD age in 2024 or later, the Single Life Table is replaced with the Uniform Life Table.