The panel on The Big Money Show is set to discuss some intriguing topics, including Wall Street’s ambitious forecasts for 2026, the surge in AI’s impact on the economy, and how Donald Trump’s policies might kick off the next significant market rally.
The IRS made an announcement on Thursday regarding the 2026 tax filing season, indicating that taxpayers will soon be able to file their returns for the previous year. Specifically, individuals can begin submitting their 2025 tax returns as early as Monday, January 26. This is actually over two months ahead of the typical April 15 deadline for filing or asking for an extension.
For those eligible—specifically individuals with an adjusted gross income of $84,000 or less—the IRS Free File program will start accepting tax returns from Friday, January 9. This could be a real help for many taxpayers looking to navigate their obligations without added costs.
If someone prefers to handle their own tax preparation, starting January 26, they can use the IRS’s Free File Fillable Forms tool. It’s opened to everyone, beyond just those within certain income brackets.
The IRS has stated that over 94% of middle-class Americans will see tax reductions
This tax season will also see the introduction of a new form called Schedule 1-A. This form can be used to claim several new tax credits that include various provisions on tips, overtime pay, and interest on auto loans for Social Security recipients.
Taxpayers will have access to their information through personal online accounts, which will include details on outstanding balances, recent payments, tax records, and more.
IRS guidance on Trump’s ‘tip tax exemption’ and overtime deductions: Key points
Children under 18 can now also be enrolled in new types of individual retirement accounts. I think that might open up options for families planning for the future.
Once taxpayers file their returns, they can utilize the “Where can I find my refund?” tool to check the status of their refunds. Typically, this tool becomes available approximately 24 hours after an electronic filing or four weeks after submitting a paper return.
IRS anticipates sizable tax refunds for Americans next year
IRS CEO Frank Bisignano mentioned that the agency is prepared to assist taxpayers throughout this upcoming filing season. It’s a good reminder that the IRS is working hard to streamline processes for everyone involved.
Secretary of the Treasury, Scott Bessent, affirmed that the IRS is diligently preparing to update forms and procedures to support hardworking Americans. This suggests a strong commitment to improving experiences for both businesses and consumers.
Bisignano remarked, “The IRS is ready to assist individuals in fulfilling their tax responsibilities during the 2026 filing season.” He added that IRS staff are devoted to their roles and have updated their information systems to handle the new tax legislation effectively.
