When Can You Start Filing Taxes?

Tax season is upon us, and while it may still be winter, Tax Day will arrive sooner than you think. It’s easy to procrastinate and put off filing your taxes, but doing so can result in penalties and interest payments if you file late or owe taxes. To avoid these hassles and expenses, it’s wise to file your taxes early. In fact, the IRS is already accepting 2025 tax returns, so there’s no need to wait. Here’s what you need to know to get started.

When it comes to filing federal tax returns, the IRS typically opens the tax-filing season around the end of January or the beginning of February. This year, the IRS began accepting 2025 tax returns on January 26, so you can start filing right away. It’s important to gather all relevant documents, such as your W-2 and 1099s, before filing. Additionally, if you don’t have a bank account, consider opening one as the IRS is phasing out paper refund checks in favor of direct deposits.

State tax-filing deadlines vary, with most states following a similar schedule to the federal government. However, some states, like Hawaii, Oklahoma, Delaware, Iowa, and New Mexico, have different deadlines. It’s important to check your state’s specific deadline to ensure you file on time.

Filing your taxes early has several benefits. If you’re expecting a refund, filing sooner means you’ll get your money faster. It also reduces the risk of falling victim to identity theft scams. With major tax changes and IRS staffing reductions causing potential delays this year, filing early can help you avoid long wait times for customer service and processing delays.

In addition, waiting to file could result in higher tax prep assistance costs, as many companies increase prices closer to the deadline. By filing early, you can save money and avoid the last-minute rush. Don’t wait until the deadline approaches; take advantage of the early filing season to get your taxes done and maximize your refund.

For more information on tax changes and updates, check out the latest articles on Money.com. Stay informed and prepared for this year’s tax season.