The IRS began accepting and processing 2025 tax year returns on Monday, January 26, 2026.
What’s new
The One Big Beautiful Bill Act, signed into law in July 2025, made several changes taxpayers may want to be aware of when preparing their returns, including these:
- New deductions for tip income and overtime pay are available — up to $25,000 for qualified tips and up to $12,500 ($25,000 if married filing jointly) for overtime, both with income limits.
- A new $6,000 senior deduction is available for taxpayers 65 and older ($12,000 if both taxpayers are 65 and older and married filing jointly), with income limits.
- The Child Tax Credit has been increased to $2,200 per qualifying child.
- The SALT deduction cap increases to $40,000 for most filers, though this benefit begins to phase out for individuals with a modified adjusted gross income (MAGI) over $500,000.
Tips to make filing easier
To speed a potential tax refund and help with tax filing, the IRS suggests the following:
- Make sure you have received Form W-2 and other earnings information, such as Form 1099, from employers and payers. The dates for furnishing such information to recipients vary by form, but they are generally not required before February 1, 2026. You may need to allow additional time for mail delivery.
- Go to irs.gov to find Form 1040 or Form 1040-SR (available for seniors born before January 2, 1960), and their instructions.
- File electronically and use direct deposit.
- Check irs.gov for the latest tax information.
Key filing dates
Here are several important dates to keep in mind:
- January 9. IRS Free File opened. IRS Free File Guided Tax Software, available only at irs.gov, allows participating software companies to accept completed tax returns of any taxpayer or family with an adjusted gross income of $89,000 or less in 2025 and electronically file the returns with the IRS. On January 26, Free File Fillable Forms became available to taxpayers with an AGI above $89,000 to fill out and e-file themselves at no cost.
- January 26. The IRS began accepting and processing individual tax returns.
- April 15. The deadline for filing 2025 tax returns (or requesting an extension) arrives for most taxpayers.
- October 15. This is the filing deadline for those who requested an extension on their 2025 tax returns.
Tax refunds
The IRS encourages taxpayers seeking a tax refund to file their tax return as soon as possible. The IRS expects to issue most tax refunds within 21 days of receiving a tax return if the return is filed electronically, the tax refund is delivered through direct deposit, and there are no issues with the tax return. To minimize processing delays, the IRS encourages people to avoid paper tax returns whenever possible.
If you have questions, contact the experts at Henssler Financial:
- Experts Request Form
- Email: experts@henssler.com
- Phone: 770-429-9166