The Internal Revenue Service (IRS) has announced that January 26, 2026, marks the beginning of the 2025 tax filing season. To ensure a smooth tax filing process, it is crucial to gather all necessary documents and information beforehand. Employees can expect to receive a Form W-2 from their employers, which contains essential information about wages and salaries earned, as well as the total amount of taxes withheld from paychecks in the previous year.
For individuals who received payments through online services such as Venmo and Cash App, a 1099-K form may be issued, but only if earnings exceeded $20,000. However, it is essential to note that earnings over $600 from these services must be reported, regardless of whether a 1099-K form is received. Individuals who received Social Security benefits can expect to receive a SSA-1099 in January. However, the taxability of these benefits is complex and may require additional consideration.
According to the IRS, having all necessary documents and information can help prevent delays and complications during the tax filing process. A checklist of required documents and information can help ensure that everything is in order before filing taxes. Further information on tax filing and available tax breaks can be found on reputable sources such as the ← →
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