Employers should have filed W-2 forms by Jan. 31, and the IRS began accepting tax filings on Jan. 26. Taxpayers have until April 15 to file their 2025 taxes, with the option to request a six-month extension if needed. Refunds are issued within 21 days for electronic filers, longer for paper filers.

Failure to file on time incurs a 5% monthly penalty, up to 25% of the unpaid balance. Extensions do not extend payment deadlines. The IRS expects 164 million individual income tax returns this year, with most filed electronically. Disaster-affected areas receive tax deadline extensions.

Freelancers and contractors should receive 1099 forms by Feb. 15, while those with income not subject to withholding taxes must make estimated payments. Quarterly payments for 2026 are due on April 15, June 15, Sept. 15, and Jan. 15. Annualized estimates are due by April 15.

Read more at Yahoo Finance: Tax season is here. The tax filing deadline, other key dates for 2026