January marks the start of tax season in the United States. Filing early doesn't just speed up your refund; it also helps you avoid identity fraud, plan your cash flow and fix any errors on your forms (such as a W‑2 or 1099) in time. Here I explain, in simple terms, why it pays to act now and which steps to follow so you arrive ready at Imfinita Tax Team.
Why file early in 2026
- Faster refunds: the IRS issues most refunds in less than 21 days when you file online and choose direct deposit. Last season, the average refund topped $3,000; filing on time helps you get that money sooner for your goals or unexpected expenses.
- Less fraud risk: if someone tries to use your information before you do, filing early shrinks the window of risk. Consider requesting an IP PIN (a free 6-digit code from the IRS) to lock down your return.
- More time to correct forms: if your W‑2 or 1099 has errors, starting in January gives you room to request corrections from your employer, bank or payment platform.
- You avoid penalties: the failure-to-file penalty can be 5% of the tax owed for each month you're late, up to 25%. Filing on time, even if you can't pay it all, reduces your costs.
- Don't leave money on the table: about 1 in 5 eligible people don't claim the Earned Income Tax Credit (EITC). If you worked and have a moderate or low income, you could qualify even if you didn't owe any tax.
Simple checklist: documents you should gather
- Identity and payments:
- A current Social Security Number (SSN) or ITIN for you and your dependents.
- Bank information for direct deposit (routing and account number).
- Income:
- W‑2 (employment).
- 1099‑NEC (independent work), 1099‑MISC (miscellaneous payments).
- 1099‑K (payments received through apps/sales platforms; for example, if you sold products or services and were paid through apps).
- 1099‑INT/1099‑DIV (interest and dividends), 1099‑B (investment sales).
- Rental income (if you own rental properties): leases, statements and expenses.
- Expenses and possible deductions/credits:
- 1098 (mortgage interest) and property tax receipts.
- Medical expenses and donations (if you itemize deductions).
- 1098‑T (tuition) and education payment statements, student loan interest.
- Daycare/dependent care: the provider's name, EIN/SSN and amounts paid.
- For businesses/LLCs: income and expense records, vehicle mileage, equipment purchases, payroll and estimated tax forms.
- Other:
- IRS notices from last year (if any).
- Credit/benefit letters (for example, EITC, CTC) if they apply.
Quick tips to maximize your refund
- Use e‑file and direct deposit. More than 90% of returns are now filed electronically, and they're processed faster.
- Check whether you qualify for the EITC. It's a refundable credit designed for workers with moderate or low incomes. Even if you don't owe tax, you could get money back.
- If you were self-employed, separate your deductible expenses. Things like mileage, equipment, platform fees, internet and cell phone (for the business-use portion) can reduce your taxable income.
- If you sold through apps/platforms, keep your reports. The 1099‑K reporting rules are still evolving; keep clear records of sales, refunds and costs to avoid paying tax on amounts that aren't income.
- Consider an IP PIN if you're worried about fraud. It's free, issued annually by the IRS, and without that code no one can file your return.
How Imfinita Tax Team helps you
- A free document review to spot credits you may be missing (EITC, Child Tax Credit, education, retirement savings).
- Electronic preparation and direct deposit to speed up your refund.
- Guidance for small business owners and independent workers: expense organization, 1099s and a tax plan for 2026.
- 100% virtual options, document delivery through a secure portal and service in Spanish.
Schedule your appointment today at www.imfinitataxteam.com and reach February with your refund on its way.
Facts and sources
- The IRS issues most refunds in less than 21 days when you file electronically with direct deposit. Source: IRS — “Refund Timing.” https://www.irs.gov/refunds/timing-of-your-refund
- In the 2024 filing season, the average refund topped $3,000 and the vast majority of returns were filed by e‑file. Source: IRS — “Filing Season Statistics.” https://www.irs.gov/newsroom/filing-season-statistics
- About 4 out of 5 eligible people claim the EITC (which means about 20% don't). Source: IRS — “Earned Income Tax Credit (EITC).” https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit-eitc
- The failure-to-file penalty can reach 5% per month, up to 25% of the tax owed. Source: IRS — “Penalties.” https://www.irs.gov/payments/penalties
- IP PIN to protect your identity when you file your taxes. Source: IRS — “Get an Identity Protection PIN (IP PIN).” https://www.irs.gov/identity-theft-fraud-scams/get-an-identity-protection-pin
- Information on Form 1099‑K and platform payments. Source: IRS — “Understanding Your Form 1099‑K.” https://www.irs.gov/businesses/understanding-your-form-1099-k
Call or message us today. Filing early is easy when you have an expert team on your side.
Note: The information here is general in nature. Rules can change; check updated requirements and form thresholds (such as the 1099‑K) at the IRS links or consult our certified preparers.
