Don’t rush to file without key forms
Artist photography | E+ | Getty Images
With many expecting a larger tax refund this season, there may be an incentive to file returns sooner. But that doesn’t mean you should rush to send yours.
Experts say you’ll need all the necessary tax forms first, or you risk processing delays or worse.
Employers and financial institutions so-called record your income and other transactions each year. information returnsLike W-2s and 1099s. A copy of the document will go to you and the IRS, making it easier for the agency’s systems to automatically flag missing or inaccurate details, experts say.
“We don’t know everything that goes into making the IRS audit happen,” said April Walker, senior director of tax practice and ethics at the American Institute of CPAs. “But one of the best ways to avoid this is to make sure you report everything fully and completely.”
If you encounter an error or leave details out of your return, you may see an automatic notification. CP 2000 notification from the IRS, detailing what was missing, based on information the agency received. The notice also includes the IRS recommended adjustmentswith the opportunity to agree or disagree with the changes.
Some filers may see an “accuracy penalty” for missing income, but errors don’t necessarily trigger an audit, according to Josh Youngblood, owner of The Youngblood Group, a Dallas-based tax firm. He is also a registered agent with a tax license to practice with the IRS.
The 2026 filing season could present “greater challenges” for some taxpayers due to a 27% reduction in the IRS’s workforce, a change in leadership and implementation of tax changes enacted by President Donald Trump, the National Taxpayer Advocate said in late January. report to Congress.
Because of potential delays in taxpayer services this season, experts say it’s important to file your returns correctly the first time.
When to expect tax forms?
While many tax forms arrive in late January, others may take until mid-February, mid-March or later, according to the AICPA.
For example, 1099s for your investments are often among the last to arrive, especially for more complex assets, Walker said. In some cases, the first form you receive from financial institutions states that a corrected version will arrive later.
For earnings you can expect from Forms W-2 for fees, 1099-NEC for contract work, 1099-G for unemployment income 1099-R for retirement plan distributions and others.
If you’re claiming new deductions for tip or overtime income for 2025, your employer may or may not report those figures on your W-2 or 1099 this season. This means you must calculate qualifying income for these tax deductions on your own.
Additionally, some filers will see: Form 1099-DA For the first time in 2026. It covers last year’s digital asset transactions.
Other forms can help filers claim tax credits and deductions.
Certain “above-the-line” deductions allow tax deductions even when the standard deduction is used. Forms for these may include: 1098-E for student loan interest, 5498 Individual retirement account contributions or 5498-SA for health savings account deposits.
