The IRS will accept tax returns starting on January 26, 2026—should you go ahead and file?
Short answer: YES.
Doing your taxes can be stressful, and it’s not surprising that many folks procrastinate this annual activity. Let’s be honest: it’s nerve-wracking to worry about the potential of an audit if you make a mistake. But the IRS is less scary than they seem, and they don’t tend to release the hounds unless there’s huge fraud.
Assuming you’re not filing a fraudulent return, let’s explore reasons that support filing as soon as possible.
Benefits of Filing Your Taxes Early
The main benefit to filing early is to get your refund sooner. But if you will owe this year, it’s also a good idea to file early so that you have the rest of tax season to make a plan for how you will pay your tax liability. The IRS can help set you up with a payment plan if you won’t have the total amount available by the April 15 deadline.
Another consideration is avoiding identity theft. The earlier you file, the sooner you lock in your own tax return filed with your social security number. Tax season is a common time for identity theft scams. If you file and can’t process your return because “you’ve already filed,” it’s likely that someone stole your information and filed a return under your name. The IRS has guidance on how to avoid identity theft and what to do if you do find fraudulent activity linked to your taxes.
Finally, you may be waiting to have your tax return information in order to take care of other financial goals, such as applying for student aid or planning to buy a home with a mortgage. These scenarios and others will require verification of your income on your most recent tax return.
Considerations for Early Tax Filers
The deadline for W-2s, 1099s, and other forms that are due to you is January 31, so it’s possible that you’ll still be waiting on some paperwork when the IRS starts accepting returns. That said, it is better to file an amended return than to have to file for an extension.
An extension allows you to push your filing deadline another six months, making your tax return due on October 15. However, this doesn’t mean you don’t have to pay. It’s a common misconception that a filing extension also means an extension on payments due.
An amended return means that you already filed for this tax year, but you need to update the return with additional information. We typically see amendments for scenarios where taxpayers weren’t aware of a deduction or credit they qualified for, so we file an amendment in order to adjust the tax liability. Too many amendments may be a red flag for audits, however, so this isn’t carte blanche to file your taxes all willy-nilly (that’s the technical term).
Any other questions about filing early? Feel free to reach out to us for a free tax consultation and we’ll help you get your numbers in order for a smoother tax season.