🛑 Stop! Don’t File Your Taxes Yet..

While the urge to get your tax refund as quickly as possible is strong, filing the moment the IRS opens its doors in 2026 can sometimes backfire.
Here are 10 reasons to take a breath and wait a few weeks before hitting "submit."
1. Late-Arriving 1099s
While employers must send W-2s by January 31, many 1099 forms (especially 1099-DIV for dividends or 1099-B for stock sales) don’t arrive until mid-to-late February. If you file without these, you'll likely have to file an amended return later.
2. Corrected Tax Forms
Financial institutions often discover errors in their initial reporting. It is very common to receive a "Corrected 1099" in late February or March. If the IRS receives a different number than what you filed, it can trigger a flag or a delay in your refund.
3. Complexity of K-1s
If you invest in partnerships, S-corps, or certain ETFs, you will receive a Schedule K-1. These are notorious for being late—often not arriving until March or even April. You cannot accurately complete your return without them.
4. New 2026 Law Implementation
With the recent passage of the "One Big Beautiful Bill" (OBB) Act, several new deductions are available for the 2025 tax year (filing in 2026), such as no tax on tips and no tax on overtime provisions. Filing too early, before tax software has fully stress-tested these new rules, could lead to calculation errors.
5. Maximizing IRA and HSA Contributions
You have until April 15, 2026, to contribute to your 2025 IRA or HSA. Waiting to file allows you to see exactly how much a last-minute contribution might lower your tax bill or increase your refund.
6. The "Mid-February" EITC/ACTC Hold
By law, the IRS cannot issue refunds for returns claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) before mid-February. Filing on January 1st won't get you that money any faster than filing on February 1st.
7. Avoiding the "Amended Return" Headache
Filing an amendment (Form 1040-X) is significantly more tedious than filing the original return. It often takes the IRS up to 16–20 weeks to process amendments, meaning your "early" filing actually results in a much longer wait for your total correct refund.
8. State Tax Lag
Many state tax departments don't finalize their forms or software compatibility until weeks after the federal government. Filing early often means your federal return is accepted while your state return sits in "pending" limbo.
9. Higher Standard Deductions
For the 2026 filing season, the standard deduction has jumped significantly ($15,000 for singles / $30,000 for married filing jointly). Waiting a few weeks allows you to double-check if itemizing (even if you haven't in years) might suddenly be more beneficial due to new OBBBA provisions like the car loan interest deduction.
10. Brokerage Statement Consolidations
Many brokerages issue "Consolidated Tax Statements." If you have multiple accounts, these statements often undergo internal audits throughout January. Waiting until the third week of February is generally considered the "sweet spot" for accuracy.
> Pro Tip: If you're worried about identity theft, you don't necessarily need to file early to protect yourself. You can request an Identity Protection PIN (IP PIN) from the IRS, which prevents anyone else from filing a return using your Social Security number.