01/10/2026
Prepare to file in 2026: Get Ready for tax season
IRS will begin accepting tax returns on January 26, 2026.
One of the most important steps taxpayers can take is to access their IRS Individual Online Account. IRS Individual Online Accounts are available 24/7, to view account information, obtain transcripts, make payments, manage communication preferences and protect tax information.
Use direct deposit
Due to the presidential executive order, Modernizing Payments To and From America’s Bank Account the IRS is phasing out paper tax refund checks. The IRS encourages taxpayers who do not have a bank account to open one so they can receive refunds by direct deposit.
Review new 2025 tax law changes
Recent legislation, such as the provisions in the One, Big, Beautiful Bill, includes several new deductions and credits that may reduce tax bills or increase refunds. For example: Standard deduction increases, Tax Inflation adjustments, Senior deductions and NO tax on tips, overtime and auto loan interest.
Forms 1099-K and 1099-DA. Taxpayers should visit IRS.gov and learn what to do if they receive either of these forms. Form 1099-K, Payment Card and Third Party Network Transactions, is used to report payments received from credit cards, payments apps and online marketplaces. Form 1099-DA, Digital Assets, is used to report digital asset proceeds from broker transactions. Taxpayers must report all taxable income on their federal tax returns, even if they don’t receive either form.
New Trump Accounts for eligible children
Parents, guardians and other authorized individuals will be able to open Trump Accounts, a new retirement savings vehicle for children under the age of 18 with a valid SSN. A pilot program contribution of $1,000 will be available for children who are U.S. citizens and born from Jan. 1, 2025, to Dec. 31, 2028. Visit trumpaccounts.gov for details.
Income from payment apps and online sales
All income from part-time work, gig activities or sales of goods and services is taxable. Form 1099-K, Payment Card and Third Party Network Transactions, will be issued by payment card companies for any amount and by payment apps and online marketplaces when payments exceed $20,000 and more than 200 transactions occur for the year.
**This info has been consolidated and copied directly from the irs.gov website. Knowledge is power. Learn the latest changes to take advantage of all the credits you are eligible for. Reduce tax liabilities and receive higher refunds. If you need help with filing your return or have any questions, please message me or access irs.gov.
