The 2026 tax filing season is officially underway, with the IRS now accepting 2025 federal income tax returns as of January 26. To ensure a smooth experience, taxpayers are encouraged to file electronically and choose direct deposit, as the agency continues its transition toward a paperless system under the “Modernizing Payments” executive order. For most Americans, the deadline to file and pay any taxes owed is Wednesday, April 15, 2026. This year brings several significant updates from the “One, Big, Beautiful Bill,” including adjusted standard deductions of $15,750 for single filers and $31,500 for married couples filing jointly. Additionally, taxpayers may benefit from new provisions such as a deduction for qualified passenger vehicle loan interest and enhanced credits for families. Those who earned $89,000 or less in 2025 can take advantage of the IRS Free File program, which offers no-cost guided tax preparation software through trusted partners.
Beyond the standard updates, the 2026 season features unique incentives like the “Trump Accounts”—a new type of retirement account for children—and significant tax-free treatment for qualified overtime and tip income for eligible workers. To avoid common pitfalls and potential delays, the IRS recommends using an Individual Online Account to track refund status, view digital notices, and access past tax records. For those who cannot meet the April deadline, filing Form 4868 provides an automatic extension until October 15, 2026; however, it is crucial to remember that this is an extension to file, not an extension to pay any taxes due. By gathering documents like W-2s, 1099s, and records for new deductions early, and utilizing available online tools, filers can minimize errors, protect themselves against identity theft, and ensure they receive their refunds as quickly as possible, typically within 21 days for electronic submissions.