Tax season is just around the corner, so knowing how to approach it is vital. The Internal Revenue Service (IRS) has already announced that tax filings can begin on January 26th. It’s also important to note that several new provisions of the One Big and Beautiful Bill are taking effect this year, which could affect tax credits and deductions. While there isn’t an exact date for refunds yet, there are clear estimates that can help you better plan your finances.
The IRS expects to receive approximately 164 million individual tax returns for the 2025 tax year
With this, taxpayers have until Wednesday, April 15, 2026, to file and pay their taxes. The IRS plans to begin processing tax returns for the 2025 tax year on January 26, 2026. The IRS expects to receive approximately 164 million individual tax returns for the 2025 tax year. It is anticipated that most taxpayers will file their taxes electronically. However, it’s important to note that while some taxpayers may file their returns early through electronic filing platforms or the IRS Free File program, these returns are not officially processed until the filing season begins.
“The Internal Revenue Service (IRS) is ready to help taxpayers meet their tax filing and payment obligations” – Frank Bisignano
From the IRS website, Acting IRS Commissioner Scott Bessent said, “President Trump is committed to the taxpayers of this country and to making the 2025 tax season even more successful.” The IRS states that over 90% of refunds are issued within the first 21 days of accepting the return. However, this timeframe can vary depending on how and when you file your return. IRS Executive Director Frank Bisignano added, “The Internal Revenue Service (IRS) is ready to help taxpayers meet their tax filing and payment obligations.”
If the IRS accepts a return in late January it means that the first refunds could arrive by mid-February
Bessent also made it clear that: “Prior to the passage of the One Great Beautiful Project Act, which provides tax cuts for working families, the Treasury Department and the IRS were working diligently to update forms and processes to benefit hardworking Americans, and he trusted our ability to deliver results and foster growth for both businesses and consumers.” A rough estimate of refunds can be calculated if, for example, the IRS accepts a return in late January or early February; this would mean that the first refunds could arrive by mid-February.
If you file electronically and choose direct deposit, you could receive your refund sooner
Regarding the fastest way to file taxes this year, experts recommend electronic filing and direct deposit. If you file electronically and choose direct deposit, you could receive your refund in approximately seven to fourteen days, although the IRS maintains the official timeframe of up to 21 days. Additionally, to help taxpayers keep track of their tax status, they can access their information through an individual online account, including balance due, payments made or scheduled, tax documents, and more.
There are the Voluntary Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs
Finally, taxpayers should be vigilant against fraud, which is common in this sector. Citizens can report and recover from tax scams and tax-related identity theft at IRS.gov. Additionally, there are the Voluntary Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs. These programs offer free basic tax preparation to eligible individuals. Proper management of your digital account can be essential. Refund status information is generally available approximately 24 hours after filing an electronic return for the current year, or four weeks after filing a paper return. All of this information can be accessed directly on the IRS website, or if you have any questions, you can visit an official IRS office.