IRS Announces January 26 Opening of the 2026 Tax Filing Season – What Taxpayers Need to Know
The IRS has officially announced that Monday, January 26, 2026 will mark the start of this year’s tax filing season. The agency expects to receive approximately 164 million individual tax returns, with most filed electronically. Taxpayers will have until Wednesday, April 15, 2026 to file their 2025 returns and pay any balance due.
This filing season brings several significant changes due to new provisions in the recently enacted One, Big, Beautiful Bill, which may affect deductions, credits, and overall tax liability. At Braden CPA, we want to help you understand what’s new and how to prepare with confidence.
Key Changes That May Affect Your Return
1. New Schedule 1-A Deductions
Taxpayers will use the new Schedule 1-A to claim recently enacted deductions, including:
No tax on tips
No tax on overtime pay
No tax on car loan interest
Enhanced deduction for seniors
These changes could reduce taxable income and potentially increase refunds for many households.
2. Trump Accounts for Children
Parents and guardians may now establish a new type of retirement account for minors, known as a Trump Account. This option is designed to encourage early savings and long-term financial security.
3. Direct Deposit Becomes the Standard
The IRS is phasing out paper refund checks and strongly encouraging taxpayers to receive refunds via direct deposit. If you don’t already have a bank account, now is the time to consider opening one to avoid delays.
4. Increased Reporting for Digital Payments and Assets
More taxpayers may receive:
Form 1099-K for payments from apps, credit cards, and online marketplaces
Form 1099-DA for digital asset transactions
Even if you don’t receive these forms, all taxable income must still be reported.
Helpful IRS Tools to Simplify Filing
The IRS continues to expand online resources to make filing easier:
IRS Individual Online Account – View balances, payments, and tax records
Where’s My Refund? – Track refund status within 24 hours of e-filing
IRS Free File & Fillable Forms – Free preparation options for eligible taxpayers
MilTax – Free filing for military members and some veterans
Volunteer Programs (VITA & TCE) – No-cost preparation for qualifying individuals
Taxpayers are encouraged to use IRS.gov as the first stop for information before contacting the agency or visiting a Taxpayer Assistance Center.
Watch Out for Scams
Every filing season brings a rise in tax-related fraud. The IRS reminds taxpayers to stay alert for phishing emails, fake phone calls, and unethical preparers. Choosing a qualified, reputable tax professional is one of the best ways to protect yourself.
How Braden CPA Can Help
With new deductions, updated forms, and evolving reporting rules, 2026 is not the year to “wing it.” Braden CPA is here to help you:
Understand how the new laws apply to your situation
Maximize eligible deductions and credits
Navigate 1099-K and digital asset reporting
File accurately and on time
If you’d like support preparing for the upcoming filing season, we’d be happy to help you create a smart, stress-free plan.
Let’s make this your most confident tax season yet.