Tax season for filing your 2025 federal income tax return officially opened on January 26, 2026, when the IRS began accepting and processing returns.
Key Deadlines
January 31, 2026: Employers and payers must furnish W-2s, 1099s, and similar forms to employees/recipients (most already received by no
April 15, 2026: Standard deadline to file your federal income tax return and pay any taxes owed. This is also the deadline for most state tax returns (exceptions vary by state).
April 15, 2026:Deadline to request an automatic 6-month extension (by filing Form 4868).
- Note: An extension gives you until October 15, 2026 to file, but you must still estimate and pay any taxes owed by April 15 to avoid penalties and interest.
April 15, 2026: Deadline to make contributions to an IRA or HSA for the 2025 tax year (if eligible).
Major Changes Taxpayers Should Be Aware Of Before Filing
The One Big Beautiful Bill Act (signed into law in July 2025) made several significant updates effective for the 2025 tax year. It also made many provisions from the 2017 Tax Cuts and Jobs Act (TCJA) permanent, preventing their scheduled expiration after 2025.
Here are the most important changes to know for this tax season:
Higher Standard Deduction: The standard deduction increased again for 2025 (returns filed in 2026). Exact amounts vary by filing status, but it continues the trend of larger deductions that make itemizing less common for many taxpayers.
Senior-Specific Additional Deduction: Taxpayers age 65 and older can claim a new or expanded additional deduction.
State and Local Tax (SALT) Deduction Cap Increased: The cap on deducting state and local taxes rose significantly.
Child Tax Credit (CTC) Boost: The credit per qualifying child increased (and is now permanent with annual inflation adjustments.
New or Expanded Deductions for Specific Income Types: Deductions or exclusions for tips, overtime pay, qualifying car loan interest, and certain other categories were introduced or expanded for qualifying taxpayers.
Digital Assets / Cryptocurrency Reporting: More taxpayers may receive Form 1099-DA from brokers if they bought, sold, or received digital assets (crypto, NFTs, stablecoins, etc.). Transactions must be reported, and the IRS is increasing scrutiny.
Permanent TCJA Provisions: Lower individual tax rates, wider tax brackets, elimination of personal exemptions, and the 20% qualified business income deduction for pass-through businesses are now permanent.
These changes can significantly affect your tax liability, refund size, or amount owed. Review your situation carefully, especially if you qualify for new deductions/credits or have digital asset transactions.
For the most accurate and personalized advice, check IRS.gov for official details, use their online tools, or consult a tax professional.
