How to Prepare for the 2026 Tax Season: Tips from the IRS

January 26, 2026, is the first day of the 2025 tax filing season. This is the date Americans can begin filing their 2025 federal returns. US Internal Revenue Service (IRS) provides advice on how to prepare for filing returns.

Here are some simple steps you can take now.

Create or log in to your individual online IRS account

Your IRS personal online account is available 24/7. You can use it to view account information, make payments, set communication preferences, and protect your tax data.

Collect and organize documents

Well-organized tax records make it easier to prepare a complete and accurate return. Examples of documents you may need include:

• W-2 forms from employer(s);
• 1099 forms from banks, payer organizations, and other sources, including unemployment benefits, dividends, and payments from pension, annuity, or savings plans;
• Form 1099-K, 1099-MISC, W-2, or other income document if you worked in the freelance or gig economy;
• Form 1099-INT if you were paid interest;
• other income documents and records of transactions with digital assets.

Learn about tax law changes for 2025

The One Big Beautiful Bill introduced numerous changes, including new deductions and credits that can reduce your tax burden or increase your refund. Beginning in 2025, to qualify for certain credits for other dependents, the taxpayer and spouse filing jointly must have valid Social Security numbers (SSNs) or Individual Tax Identification Numbers (ITINs) issued by the filing deadline (including extensions).

Understand reporting documents and requirements

Income from part-time work, freelancing, or the sale of goods and services is generally taxable. Form 1099-K (payment cards and third-party transactions) is issued by payment systems for any amount, while payment apps and online platforms (so-called third-party settlement organizations, or TPSOs) issue forms when payments to the recipient exceed $20,000 and more than 200 transactions are processed within a year.

Additionally, taxpayers who purchased, sold, or received digital assets (including cryptocurrency, stablecoins, or NFTs) are required to report such transactions. Some may receive Form 1099-DA from brokers. Regardless of whether they have a Form 1099-DA, all taxpayers must answer the digital asset question on Form 1040 and report any related income, gain, or loss.

Check the status of your Individual Tax Identification Number (ITIN)

An ITIN only needs to be renewed if it has expired and is required for filing a U.S. federal tax return. If the ITIN has not been used at least once on the 2022, 2023, and 2024 returns, it expires on December 31, 2025, and must be renewed.

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Use direct deposit

The IRS is phasing out paper tax refund checks as part of its executive order to streamline payments to and from the state budget. Taxpayers who don't have a bank account are encouraged to open one to receive their refunds via direct deposit.

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