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.