The IRS is advising taxpayers to prepare early for the 2026 tax season, which reflects income earned in 2025. The agency emphasizes the importance of organization to minimize stress and ensure a smooth filing process.
Essential Year-End Actions for Taxpayers
Taxpayers are encouraged to start gathering financial records and organizing pertinent information now. This proactive approach can help avoid errors and expedite refunds when the tax season officially commences.
Why Early Preparation Matters
The upcoming 2026 filing season will see returns due by April 15, 2026. Due to recent updates stemming from the significant “One, Big, Beautiful Bill,” some deductions and credits will differ from previous years. Therefore, timely preparation can help taxpayers maximize their benefits and reduce errors.
Upcoming Changes to Tax Regulations
- New tax laws may significantly affect federal taxes, credits, and deductions.
- Some familiar deductions will be updated, including:
- No tax on tips
- No tax on overtime
- No tax on car loan interest
- Temporary deductions for seniors and other designated groups
- Taxpayers should be aware that paper refund checks will be phased out starting in late 2025, with most refunds being issued through direct deposit.
Checklist for Pre-Season Preparation
To aid in the upcoming tax filing process, taxpayers should follow this simple checklist:
- Create or log in to an IRS online account to securely view filings and track payments.
- Gather key documents such as:
- W-2 forms from all employers
- 1099 forms
- Bank account and routing information for refunds
- Review life changes that could affect your tax situation, such as a new job, marriage, children, or home purchases.
- Set up or confirm direct deposit information.
- Consider using e-filing software or consulting with tax professionals once documents are ready.
- Maintain organized records of deductions, receipts, charitable donations, and any other supporting documents.
By taking these steps now, taxpayers can streamline their filing experience and potentially improve their tax outcomes for the 2026 season.
