It’s that time of year again.
Tax season is about to begin, and most Americans need to complete their 2025 filings by Wednesday, April 15. To avoid missing a deadline or paying a penalty, plan to check your local tax dates and income paperwork as soon as possible.
Here’s everything you need to know about taxes in the new year.
When can I file taxes?
You can submit your 2025 federal tax return starting in late January 2026. Though the majority of Americans file their taxes annually, self-employed people, contract workers, and some gig workers may also be subject to quarterly estimated payment deadlines. Important dates include:
- January 15, 2026: Deadline for estimated tax payments for Q4 2026
- April 15, 2026: The deadline for individual federal income tax returns and payments, and estimated tax payments for Q1
- June 15, 2026: Deadline for estimated tax payments for Q2
- September 15, 2026: Deadline for estimated tax payments for Q3
- October 15, 2026: Extended deadline for individual income tax returns
- January 15, 2027: Deadline for estimated tax payments for Q4 2026
Taxes for Partnerships and S Corporations (like small businesses or startups) are due on March 15, and taxes for C Corporations (larger companies like Apple or Walmart) are due on April 15.
The Internal Revenue Service makes deadline exceptions for people impacted by federally-recognized disasters. You can check the details here.
Are state and federal deadlines different?
All state deadlines are on or after the April 15 federal due date, but they do vary. States like Alabama, Florida, Tennessee, and North Carolina typically give residents a longer time to file their state-level taxes — though federal filings may still be due in April. Check your state government website for updates and deadline extensions.
What documents do I need to file?
If you’re a salaried employee, you will need a W-2 form from your employer to file taxes. Contractors and gig workers will need a 1099 form from the company they contracted with, and self-employed workers may also receive a 1099 from their clients.
This paperwork is typically mailed to Americans in February or posted online through their payroll company. Banks are also required to send 1099s to people who received interest or dividends, and those who sold stock, bonds, or mutual funds in 2025. Some inherited assets, like real estate, may also need to be reported.
Tax returns will likely ask for your adjusted gross income (AGI) — meaning your total earnings minus certain deductions like student loan interest, alimony payments, retirement contributions, and health savings. AGI helps determine your eligibility for tax credits and can be found on your most recent tax return or through your IRS account.
If you made charitable contributions in 2025, that should also be reported in your filing.
How do I file taxes?
Online filing is the most efficient and secure way to organize taxes.
Americans with an adjusted gross income at or below $84,000 may qualify for free tax preparation through an IRS partner. Those with a higher income can work with a tax advisor or pay for online tax software. Pricing varies depending on the complexity of individual financial situations.
DirectFile, the free government-run tax preparation service, was discontinued by the Trump administration and will not be available in 2026.
When can I expect a refund?
After fully filing your state and federal taxes, you’ll see if you owe more money or if you overpaid and are owed a refund.
Federal and state refunds are typically sent via direct deposit within a few weeks of filing. To check when your refund is coming, use the tracking tool on the IRS website. You will need to provide your Social Security number or taxpayer ID, filing status, and exact refund amount.
Refund deposits could take longer than a month if your return is flagged for errors, manual processing, or potential fraud. Contact the IRS if you suspect an issue.
What happens if I miss a tax form or deadline?
You may be charged a penalty if your tax filing is missing a required form. Having an incomplete return by the April 15 federal deadline, for example, will result in a 5% penalty per month on any unpaid tax. That penalty may increase after 60 days and refunds cannot be processed until all forms are submitted.
To prevent a penalty, be sure you have all necessary forms from your employer before the deadline. If your employer is unable to provide this paperwork in time, contact the IRS.
You can get an automatic extension by paying all or some of the tax you owe by the April deadline. Your new deadline will be October 15.
What happens if I underpaid my taxes?
If the IRS or your state tax authority sends a notice that you underpaid on your 2025 taxes, try to pay as much as possible to minimize penalties and interest. You’ll be charged an underpayment penalty if you paid less than 90% of the tax on your current-year return — something that can happen if your employers’ paycheck withholdings don’t cover your full tax liability. Self-employed people and independent contractors can be charged for underpayment if they miss or underpay one or more of their quarterly tax estimates.
This penalty only applies to those who owe $1,000 or more in unpaid taxes. For those who can’t pay the full underpayment balance immediately, the IRS offers short- and long-term payment plans. The interest rate will be 7% in 2026.
An underpayment bill can be stressful, but it is better to submit your tax returns by the deadline — even if you can’t afford your full balance. The IRS’ failure-to-file penalty is higher than the underpayment penalty.
The IRS doesn’t report this to major credit bureaus, so a tax underpayment will not directly impact your credit score. Steep tax debt over time, however, could be sent to a collections agency.
