Vol. I  ·  No. 2
Friday, October 16, 2026
13 stories in the archive

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Friday, October 16, 2026

2 stories in this edition

notice IRS disaster postponement for Hurricane Isaias40 Alabama and 27 Florida countiesAlabama to Feb 4, Florida to Feb 8, 2027checked Oct 16

Taxes

Isaias Victims in Alabama and Florida Get Until February to File

The IRS pushed deadlines to February 4 in 40 Alabama counties and February 8 in 27 Florida counties, including October's extension deadline. Balances due in April did not move.

By Finance Unc

Individuals and businesses in the parts of Alabama and Florida hit by Hurricane Isaias have more time for many federal tax deadlines, the IRS announced October 14. In Alabama, deadlines falling on or after October 7, 2026, are postponed to February 4, 2027, in 40 counties. In Florida, deadlines falling on or after October 9 are postponed to February 8, 2027, in 27 counties.

That includes the October 15 deadline for people who had a valid extension to file their 2025 return. It does not include the tax itself: payments on 2025 returns were due April 15, 2026, and are not eligible, so interest on unpaid 2025 balances keeps running. Estimated tax payments originally due after the start dates are postponed, as are quarterly payroll and certain excise returns, including those normally due November 2.

Payroll and excise tax deposits are handled separately. In Alabama, penalties on deposits due from October 7 through October 21 are abated if the deposits are made by October 22.

You do not have to apply if your address of record is in a covered county; the IRS applies the relief automatically. Taxpayers who live outside the area but whose necessary records are inside it, and relief workers, can also qualify by calling the IRS disaster line at 866-562-5227. The county lists are on the IRS disaster relief page, which is where any additions will appear. Alabama's Department of Revenue has extended its own deadline for state returns in the same counties to February 4.

Sources

notice Social Security taxable maximum and earnings test, 2027NationwideWage base $192,300; earnings limits $25,560 and $67,920checked Oct 16

Retirement

Social Security Tax Now Applies to the First $192,300 of 2027 Wages

The taxable maximum rises from $184,500. The earnings limits for working beneficiaries rise too.

By Finance Unc

The maximum amount of earnings subject to Social Security tax will rise to $192,300 in 2027, from $184,500 in 2026, the Social Security Administration announced alongside the 3.6 percent cost-of-living adjustment.

Workers and employers each pay 6.2 percent on wages up to that amount, so the most an employee can owe in Social Security tax rises from $11,439 to $11,922.60, with the employer paying the same. Self-employed people pay both halves, 12.4 percent, up to the same cap. The separate Medicare tax has no cap.

The earnings test for people collecting benefits before full retirement age also rises. If you are under full retirement age all year, you can earn $25,560 in 2027 before Social Security withholds $1 for every $2 above that. In the year you reach full retirement age, the limit is $67,920, with $1 withheld for every $3 above it, counting only earnings before the month you reach that age. Once you are at full retirement age, there is no limit.

For payroll and budgeting, the new cap takes effect with wages paid in January 2027.

Sources