IRS announces tax filing begins Jan. 26. Key information you should be aware of.

Key Dates and Updates for 2026 Tax Refunds

If you’re looking forward to your tax refund, circle January 26, 2026, on your calendar. That’s when the IRS will officially start accepting federal income tax returns, according to a recent announcement.

What to Expect from This Year’s Refunds

Tax refunds are often the largest single payment many households receive each year. Last year, the average refund was nearly $3,200, based on IRS statistics. This year, refunds could be even more generous, with financial firm Piper Sandler predicting that the average check may rise by about $1,000.

Major Tax Law Changes for 2025 Returns

Several significant updates will affect 2025 tax returns, thanks to new legislation passed by Republicans. These changes include:

• Eliminating taxes on certain overtime and tipped earnings
• Raising the deduction limit for state and local taxes (SALT) from $10,000 to $40,000

These new rules are retroactive to 2025 and are designed to provide additional tax relief.

Important Filing Deadlines

Federal tax returns are due by April 15. If you need extra time, you can request an automatic extension before the deadline, which gives you until October 15 to file. However, any taxes owed must still be paid by April 15 to avoid penalties.

When Will You Receive Your Refund?

Many taxpayers are eager to know how quickly they’ll get their refund. The timing depends on how you file and whether your return has any issues.

• Electronic Filing: Most people who file online receive their refunds within 21 days. For example, if you submit your Form 1040 on January 26, you could see your refund by February 16, provided there are no complications.
• Paper Returns: These take longer to process because they require manual handling. The IRS notes that their "Where’s My Refund" tool will provide updates on paper returns after about four weeks.

Tracking Your Refund

You can monitor the status of your refund using the IRS’s "Where’s My Refund" tool. For electronic filings, updates are typically available within 24 hours.

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