IRS Opens Tax Filing on Jan 26 — Here’s How to Stay Ready

Tax season is officially here. The IRS will begin accepting tax filings from January 26, 2026, and whether you’re an individual filing your personal return or a business owner managing business taxes, early preparation is critical. 

Getting ready in advance not only saves time and reduces stress, but also helps you avoid costly mistakes, missed deductions, and unnecessary delays.

1. Organize All Your Financial Documents

The foundation of a smooth tax filing process is having your records in order.

For individuals, this means gathering W-2s, 1099s, bank and investment statements, mortgage interest statements, medical expense receipts, education-related forms, and proof of charitable donations. 

For business owners, documentation becomes even more critical. Your profit and loss statements, balance sheets, expense receipts, invoices, payroll records, and 1099 forms should be accurate and up to date. Clean, well-maintained records not only speed up filing but also protect you in case of an IRS notice or audit. 

2. Review Last Year’s Tax Return

Your previous tax return is a powerful reference point. Reviewing it helps you understand your income patterns, spot deductions or credits you may have missed, and ensure consistency in reporting.

This is especially important for business owners who have added new services, hired staff, purchased equipment, or expanded operations. Any change in income, expenses, or structure can affect your tax liability, and last year’s return helps you anticipate what may be different this time.

3. Understand Key Deadlines

The IRS accepts filings starting Jan 26, but deadlines differ:

March 15

• S Corporations (Form 1120-S)

• Partnerships (Form 1065)

• Multi-Member LLCs

  
  

April 15

• Individuals (Form 1040)

• Single-Member LLCs (Schedule C)

• C Corporations (Form 1120 – Calendar year)

  
  

4. Consult a Tax Professional When Needed

If your financial situation is straightforward, self-filing may be sufficient. However, if you have multiple income streams, investments, rental properties, stock or crypto activity, or if you own a business, professional guidance can be extremely valuable. 

For business owners, professional support is especially important when dealing with payroll, partnerships, inventory, large write-offs, or complex financial structures. The right guidance can save you far more than it costs.

Bottom Line

Whether you’re filing a personal return or managing taxes for your business, preparation is everything. Organize your documents, review your prior returns, consult professionals if needed, and stay on top of deadlines. Mark Jan 26 on your calendar, start early, and make tax season smooth and stress-free.