The IRS “Get Ready” campaign is designed to help taxpayers prepare for the upcoming 2026 tax filing season. This year introduces several important updates under the One Big Beautiful Bill Act (OBBBA), including potential tax deductions for tips, overtime pay, car loan interest, and additional deductions for seniors. Preparing in advance can help ensure a smooth, accurate, and timely filing experience.
IRS Tips to Prepare for Filing Season
Gather and Organize Tax Records
Getting your tax documents in order now can significantly reduce errors that may delay your refund. Early organization also helps you identify deductions or credits you might otherwise miss. Take note of any significant life or financial changes from the previous year, as these often impact your tax situation.
Expect essential documents—including Form W‑2, Form 1099, and other income statements—to arrive in early 2026. Set aside a dedicated folder or digital space so everything is ready when it’s time to file.
Access or Login to an Existing IRS Online Account
An IRS online account provides a secure, streamlined way to manage your personal tax information. Through your account, you can:
- View tax records, including adjusted gross income and transcripts
- Make, schedule, and track payments
- Retrieve or view your Identity Protection PIN
- Authorize a tax professional to access records digitally
- Update communication preferences (including Braille or large print options)
Direct Deposit
Due to a recent presidential executive order, the IRS will begin phasing out paper tax refund checks. If you don’t already have a bank account, consider opening one to receive your refund via direct deposit. This method is secure and convenient, and you will receive your refund faster.
Income From Payment Apps and Online Sales
All income is taxable unless specifically excluded by law. This includes gig‑based work, part-time jobs, and the sale of goods or services through online platforms. Even unemployment compensation counts as taxable income. Be sure to track any earnings received through payment apps or marketplaces so you can report them accurately.
Digital Assets Reporting
If you bought, sold, or received digital assets, such as cryptocurrency, stablecoins, or NFTs, you must report those transactions. While some taxpayers will receive Form1099‑DA from brokers, you may still need to track your activity independently to ensure complete reporting.
Why Start Early?
Beginning your tax organization now helps you avoid the stress of last-minute filing. Early preparation gives you time to gather documents, understand new IRS or OBBBA-related changes, and determine whether you should file on your own or with professional support. A little groundwork now can make your filing process faster, easier, and more accurate later.
Partner with Vrakas CPAs + Advisors
This overview covers only the essentials. With evolving IRS requirements and new deductions under OBBBA, professional guidance is more valuable than ever. Vrakas CPAs + Advisors can help you maximize tax benefits, stay compliant, and file with confidence. Contact your advisor today to ensure you’re fully prepared for the 2026 tax season.
