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When Timing Can Cut Your 2025 Tax Bill
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Subscribe05 JAN 2026 / ACCOUNTING & TAXES
The doctrine of constructive receipt, wherein income is taxable when you have the right to it, even if uncollected, is a potential strategy for benefiting from tax relief measures expiring soon, such as tax relief for wildfire victims which is set to expire on December 31, 2025. In addition, miscalculations for income tax withholdings, particularly for tipped and overtime workers, under the One Big Beautiful Bill Act, could lead to a "gigantic refund year" in 2026.
That question is quietly driving some very real tax savings right now. And it leads to a surprising idea: reporting some 2026 payments on your 2025 return could lower your tax bill. Sounds backwards. It is not. Welcome to constructive receipt, year-end se...
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