IRS opens 2026 filing season; new tax law provisions to benefit taxpayers

WASHINGTON, N.C. — The Internal Revenue Service announced the opening of the 2026 filing season on Monday, with taxpayers required to file their 2025 tax returns by April 15, 2026. The IRS expects to receive about 164 million individual income tax returns this year.

This year’s filing season includes several new tax law provisions from the One, Big, Beautiful Bill, which aim to lower tax bills and potentially increase refund amounts for many taxpayers, the IRS stated.

The One, Big, Beautiful Bill provisions will be beneficial for taxpayers as they include a new Schedule 1-A, which will be utilized to claim specific tax deductions such as no tax on tips, overtime and car loan interest, as well as an enhanced deduction for seniors.

Parents and guardians can establish a new type of individual retirement account, referred to as a Trump Account, for their children, providing potential future financial benefits.

“President Trump is committed to the taxpayers of this country and improving upon the successful tax filing season in 2025,” said Acting IRS Commissioner Scott Bessent in a news release. “Prior to the passage of the One, Big, Beautiful Bill, which delivered working families tax cuts, Treasury and IRS were diligently preparing to update forms and processes for the benefit of hardworking Americans, and I am confident in our ability to deliver results and drive growth for businesses and consumers alike.”

The IRS emphasizes the importance of setting up a bank account to receive tax refunds via direct deposit, as they are phasing out paper checks due to an executive order aimed at modernizing payment processes.

Taxpayers are reminded of their obligation to report all taxable income on their federal tax returns, regardless of whether they receive Form 1099-K, which reports payment card and third-party network transactions, or Form 1099-DA, which details digital asset proceeds.

Taxpayers are encouraged to familiarize themselves with these new tax provisions and ensure timely filing by the April deadline. Further information can be accessed via the IRS website regarding any queries related to their tax obligations.

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