The Internal Revenue Service (IRS) is encouraging taxpayers to prepare early for the 2026 tax filing season. By visiting the IRS website, taxpayers can find tips on new considerations for filing.
The IRS highlighted the impact of the One, Big, Beautiful Bill on federal taxes, credits and deductions. The bill includes changes like no tax on tips, overtime or car loan interest. New deductions for seniors and others are also included.
Organizing tax records is crucial for filing accurate tax returns, according to IRS officials. Taxpayers are instructed to gather bank account information, W-2 forms, 1099 forms and records of digital asset transactions. Waiting to file until all records are received can help avoid errors and delays.
An IRS online account provides secure access to personal tax information. Through it, taxpayers can view tax records, make payments and authorize tax professionals to access records digitally.
Direct deposit remains the fastest way to receive tax refunds. Following Executive Order 14247, the IRS began phasing out paper refund checks on September 30. As a result, most taxpayers will need to provide routing and account numbers for direct deposit.
For those without a bank account, the IRS suggests opening one at an FDIC insured bank or using the National Credit Union Locator Tool. Additionally, the Veterans Benefits Banking Program provides special options for veterans.
Prepaid debit cards, digital wallets or mobile apps may also support direct deposit. Taxpayers should confirm routing and account numbers with their financial institution or app provider in order to utilize these options.
