2026 Tax Filing Season Begins January 26: What You Should Know

Hive check-in: Let’s dive into today’s narrative.

The IRS officially kicks off the 2026 tax filing season on Monday, January 26, 2026, when it begins accepting and processing 2025 federal tax returns. The deadline to file and pay any taxes owed is April 15, 2026.
This tax season looks very different thanks to the “One, Big, Beautiful Bill” (OBBB) passed in July 2025, which introduced several new deductions and filing changes that could put more money back in taxpayers’ pockets.
What’s New for 2026
Many of the new deductions created by OBBB can be claimed using the new Schedule 1-A form. Highlights include:
Tip income deduction: Eligible workers in tipped occupations can deduct up to $25,000, depending on income limits.
Overtime pay deduction: A portion of qualified overtime pay is now deductible, capped at $12,500 for single filers and $25,000 for joint filers, with income phaseouts.
Senior deduction: Taxpayers 65 and older may qualify for an additional deduction of up to $6,000 (or $12,000 for married couples).
Auto loan interest: Up to $10,000 in interest on eligible personal vehicle loans for cars purchased in 2025 may be deductible.

SALT cap increase: The State and Local Tax deduction cap has temporarily increased to $40,000 for most itemizers.
Charitable deduction for non-itemizers: Cash donations can now be deducted even without itemizing, up to $1,000 for single filers or $2,000 for joint filers.

Important Tax Dates to Remember
January 9, 2026: IRS Free File opens
January 26, 2026: IRS begins accepting all returns
January 31, 2026: Employers must issue W-2s
April 15, 2026: Tax filing deadline
October 15, 2026: Deadline for those with extensions
Other Notable Changes
Trump Accounts: A new IRA-style account for children under 18 includes a $1,000 government contribution for eligible kids.
Crypto reporting: Digital asset transactions will now be reported using Form 1099-DA.
Paper checks: The IRS is continuing to move away from paper refund checks, pushing taxpayers toward Direct Deposit.
Bottom Line
The 2026 tax season brings new opportunities, and new paperwork. With expanded deductions and updated reporting rules, filing early and reviewing eligibility carefully could make a real difference this year.
— TheWordSmithReversed


Sources
Internal Revenue Service (IRS)
U.S. Department of the Treasury
IRS Tax Year 2025 Forms & Instructions
IRS News Releases (2025–2026)

Comments

Post a Comment

Popular posts from this blog

The Interstate Obscenity Definition Act: A New Front in the Battle Over Online Content Regulation

Image
Hive check-in: Let’s dive into today’s narrative. In May 2025, Senator Mike Lee (R-UT) reintroduced the Interstate Obscenity Definition Act (IODA), a bill aiming to redefine "obscenity" in U.S. law to encompass virtually all sexual content. Supported in the House by Representative Mary Miller (R-IL), the bill seeks to remove key protections from the current Miller test, such as reliance on community standards and patently offensive criteria. Critics argue this could result in sweeping censorship and specifically target transgender expression by equating it with pornography.   The IODA aligns with Project 2025, a policy framework linked to far-right groups and former President Donald Trump, which frames trans identities and sexual education as pornographic and criminal. While the bill lacks cosponsors and faces uncertain passage, similar anti-pornography measures are advancing in states like Oklahoma. Bipartisan support exists for related bills such as the Kids...
Read more

Super Bowl LIX: The Rematch Everyone's Been Waiting For

Image
Hi Hive,  Football fans! Buckle up, because Super Bowl LIX is bringing the heat with a rematch that's got everyone buzzing. On February 9, 2025, at the iconic Caesars Superdome in New Orleans, the Kansas City Chiefs and the Philadelphia Eagles are set to face off once again. If this feels like déjà vu, you're spot on—these two teams clashed in Super Bowl LVII back in 2023, where the Chiefs edged out the Eagles in a nail-biter, 38-35.  The Road to the Rematch The Chiefs, led by the dynamic duo of quarterback Patrick Mahomes and tight end Travis Kelce, have been on an absolute tear. They finished the regular season with an impressive 15-2 record and are now eyeing an unprecedented third consecutive Super Bowl victory. Their recent AFC Championship game was a thriller, with Mahomes showcasing his signature playmaking abilities and kicker Harrison Butker sealing the deal with a clutch 35-yard field goal, leading to a 32-29 win over the Buffalo Bills.  On the flip ...
Read more

JPMorgan Chase Enters 2025 Amid Mounting Legal Troubles

Image
January 1, 2025 – As the new year begins, JPMorgan Chase is grappling with a series of high-profile lawsuits that highlight vulnerabilities in its operations and raise questions about its role in safeguarding consumer trust. From allegations of negligence on peer-to-peer payment systems to disputes over fraud prevention, the outcomes of these cases could have far-reaching implications for the banking giant and the financial industry as a whole. CFPB Lawsuit: Widespread Zelle Fraud In late 2024, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against JPMorgan Chase, Bank of America, and Wells Fargo, accusing them of failing to protect consumers from rampant fraud on the Zelle payment network. Since Zelle's launch in 2017, over $870 million in fraud losses have been reported, according to the CFPB. The lawsuit alleges that these banks neglected to implement adequate safeguards or provide sufficient support for fraud victims. As peer-to-peer payment systems...
Read more