Personal Finance Tips for Tax Season

Published March 15, 2026

As the weather warms and spring approaches, tax season is just around the corner. The federal income tax filing deadline is Wednesday, April 15, 2026, with an extension available until October 15, 2026.

If you plan to file an extension, remember that it only extends the filing deadline, not the payment deadline. Any taxes owed must still be paid by April 15, 2026, to avoid penalties and interest.

Here are a few practical tips to help you prepare your taxes:

1. Gather Important Documents Early
Having everything in one place saves time and helps prevent mistakes. Start collecting tax documents as they arrive so nothing gets missed. Common forms include:

W-2s from employers

1099 forms (for freelance work, investments, bank interest, etc.)

Mortgage interest statements
Charitable donation receipts
Health insurance forms (1095-A, B, or C, if applicable)

2. Organize Receipts and Deductible Expenses

If you plan to itemize deductions, organize receipts for expenses such as:

Charitable donations

Medical expenses

Business or self-employment expenses

Education expenses

Childcare costs

3. Check Eligibility for Tax Credits
Tax credits can significantly reduce what you owe because they reduce taxes dollar for dollar. Some common credits include:

Child Tax Credit

Earned Income Tax Credit (EITC)

Child and Dependent Care Credit

4. Choose a Filing Method Early
Decide how you plan to file your return. Scheduling early with a preparer can help you avoid the last-minute rush. Options include:

Filing yourself using tax software

Working with a CPA or tax preparer

Finally, be aware of tax scams. Unfortunately, tax season often attracts scammers. The Internal Revenue Service will not call, text, or email demanding immediate payment. Be cautious about suspicious messages requesting personal information and always verify official websites before submitting sensitive information.

Additional Resources

Tax season can feel overwhelming, but several trusted programs offer free help with preparing and filing your tax return:

IRS Free File
If your adjusted gross income is $89,000 or less, you may qualify to file your federal taxes online for free using guided software through IRS partner companies.

Volunteer Income Tax Assistance (VITA)
Provides free tax preparation by IRS-certified volunteers for individuals and families who generally earn $69,000 or less, as well as those with disabilities or limited English proficiency. Many VITA sites operate at community centers, libraries, and schools.

AARP Foundation Tax-Aide
Offers free tax preparation assistance, especially for adults age 50+ with low to moderate income. AARP membership is not required.

Tax Counseling for the Elderly (TCE)
Provides free tax help for adults age 60 and older, with volunteers who specialize in retirement-related tax issues such as pensions and Social Security.

If possible, file electronically and choose direct deposit to receive your refund faster. For more information or to find a free tax help location near you, visit the IRS website or check with your local library or community center.

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