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IRS Opens 2026 Tax Season Today—Average Refund Hits $4,000+
The IRS began accepting 2026 tax returns today (January 26, 2026), marking the official start of tax season.
Average federal tax refunds are projected to exceed $4,000—the largest in U.S. history—driven by expanded credits and deductions under the One Big Beautiful Bill.
The Timeline
- Today (Jan 26): IRS begins accepting returns
- April 15, 2026: Tax filing deadline
- After Feb 15: Refunds begin flowing for most filers (earlier filers claiming EITC or CTC face delays due to fraud prevention rules)
What’s New for 2026
- 100% bonus depreciation on eligible property acquired after Jan 19, 2025
- Expanded QBI deduction (now permanent with higher phase-out thresholds)
- Higher standard deduction: $14,600 (single), $29,200 (married filing jointly)
