Looking to submit your tax return at the earliest opportunity? This is the soonest date you’re allowed to file.

When Can You Start Filing Your 2025 Federal Taxes?

Tax season has arrived, and many are wondering just how soon they can submit their 2025 federal tax returns.

During his national address at the end of the year on December 17, President Trump announced that Americans would experience the "largest tax cuts in American history" by 2026, projecting savings for families ranging from $11,000 to $20,000.

If you’re eager to receive your tax refund, here’s what you need to know about the earliest filing date and the new tax benefits available this year.

First Day to Submit Your 2025 Tax Return

The IRS has announced that it will begin accepting tax returns on Monday, January 26.

Speaking to the Economic Club of Minnesota, Treasury Secretary Scott Bessent emphasized that many Americans could receive the largest tax refunds they’ve ever seen.

Bessent stated, “The president is committed to getting these funds to Americans as quickly as possible. That’s why I’m pleased to announce that this year’s tax season will kick off on January 26—making it one of the earliest starts in the past ten years.”

What’s New for 2025: Fresh Tax Breaks

The One Big Beautiful Bill Act introduces four significant new tax incentives for U.S. taxpayers.

Extra Deduction for Seniors

While the administration initially promised “no tax on Social Security,” the actual policy is an increased deduction for seniors.

According to accountant and author Hannah Cole, seniors will benefit from an additional $6,000 deduction, which is expected to have a substantial impact.

This deduction is available on top of the standard deduction.

However, the benefit phases out for individuals with a modified adjusted gross income above $75,000, or couples filing jointly with income over $150,000.

This enhanced deduction is temporary and will be available from 2025 through 2028.

Car Loan Interest Exemption

This new provision surprised many tax experts.

Taxpayers can now exclude up to $10,000 in interest paid on new car loans from their taxable income. The vehicle must be brand new and assembled in the United States to qualify.

The VIN Decoder from the National Highway Traffic Safety Administration can help you verify your vehicle’s eligibility. You’ll also need to include your car’s VIN on your tax return. Income limits apply to this deduction as well.

Tip Income Exclusion

Workers who regularly receive tips can now deduct up to $25,000 in tip income from their federal taxes.

This benefit is only available to those who customarily earn tips, and Social Security and Medicare taxes still apply to these earnings.

To qualify, you must accurately report your tips as required by law.

Overtime Pay Deduction

There’s a new deduction for overtime earnings—up to $12,500 for single filers and $25,000 for married couples filing jointly.

This benefit phases out for individuals earning over $50,000 or couples with income above $300,000.

Trump Accounts for Children

Although Trump accounts—retirement accounts for children—won’t be available until after 2025, eligible families can opt into this new savings plan when filing their 2025 taxes.

To enroll, submit Form 4547 with your 1040 return if you have a child born between January 1, 2025, and December 31, 2028.

Hannah Cole notes that while the eligible group is small, each qualifying child will receive $1,000 from the U.S. Treasury.

Important Dates for Those Filing Later

If you’re not planning to file your taxes as soon as possible, remember that the deadline to submit your return is Wednesday, April 15.

If you need more time, you must file Form 4868 by April 15 to request an extension, which gives you until October 15, 2026, to file. You can use IRS Free File to submit your extension online or mail the form.

Keep in mind that while an extension gives you more time to file, any taxes owed must be estimated and paid by April 15 to avoid penalties and interest.