This year’s tax refund might be larger due to recent changes.

IRS Announces Start of 2026 Tax Filing Season

The Internal Revenue Service has designated Monday, January 26, as the kickoff for the 2026 tax filing season. They’re advising taxpayers to look into a number of new tax law changes that might impact their federal tax obligations and potential deductions.

IRS Acting Commissioner Scott Bessent mentioned in a press release, “In anticipation of the One, Big, Beautiful Bill, which aims to provide tax relief to working families, the Treasury Department and the IRS are hard at work updating forms and procedures to support hardworking Americans. We’re confident in our capability to produce positive outcomes and stimulate growth for both businesses and consumers.”

The agency estimates that around 164 million individual income tax returns will be submitted this year and encourages taxpayers to complete their filing by the deadline on Wednesday, April 15.

Additionally, the IRS is reminding everyone of steps they can take before filing to maximize their refund. Notably, some updates in the One Big Beautiful Bill Act, enacted last year, include modifications to the tax code that could potentially enhance refund amounts. Taxpayers should, perhaps, consider visiting the IRS website to browse these regulations prior to filing their returns.

Use Direct Deposit

In a move towards modernization, the IRS, in collaboration with the U.S. Department of the Treasury, announced in September that it will phase out paper tax refund checks for individual filers. This is in line with the requirements of Executive Order 14247. Taxpayers are urged to check if they have access to a bank account that enables direct deposit. While there are alternative payment methods for those without bank accounts, the IRS strongly suggests opting for direct deposit for efficiency.

Report Income from Payment Apps and Online Sales

If you’ve earned any digital payments from part-time jobs, gig work, or through selling goods or services in 2025, remember to report those earnings on your taxes. This could include payments received via platforms like PayPal, Venmo, or Cash App. The IRS notes that 1099-K forms are issued by payment card companies and online platforms when transactions exceed $20,000 and 200 transactions in a year.

Digital Asset Reporting Requirements

Should you have bought, sold, or received digital assets like cryptocurrencies, stablecoins, or NFTs in 2025, those transactions must be reported as well. Even if you received a form from your broker, it’s essential to self-report your income, gains, and losses on Form 1040. For further details, you might want to check the IRS page dedicated to digital assets.

Where Is My Refund?

Taxpayers can typically access refund status updates roughly 24 hours after e-filing their return for the current year, or about four weeks after submitting a paper return. To check the status, taxpayers will need a Social Security number or Individual Taxpayer ID Number (ITIN), along with their filing status and the precise refund amount.