TAX SEASON NEWS - 2026

Tax Updates

With the April 15 tax deadline fast approaching, the IRS reminds tax professionals and their clients that there is still time to file federal income tax returns electronically and request direct deposit for any refund due. Taxpayers can avoid interest and some penalties by filing their tax return, and – if they owe – paying the full amount due by the deadline.

Tax professionals should encourage their clients to e-file so they don’t need to be concerned about whether their return is timely postmarked. A paper tax return is treated as filed on the date it is postmarked. The Postal Service reaffirmed through a recent announcement that the postmark might be later than the date that an item is dropped in a mailbox. Taxpayers who file a paper return on the deadline, however, can request a manual postmark at post offices during business hours.

Clients who cannot file their tax return by April 15 can request an automatic extension of time to file. An extension to file is not an extension to pay. Estimate and pay any taxes owed by the deadline to avoid penalties and interest. Request an extension by:

Making an electronic payment using Direct Pay, a debit card, a credit card, or a digital wallet, and indicating the payment is for an extension; or
Filing a Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.

Clients serving in a combat zone or qualified hazardous duty areas, living outside the United States, or affected by certain disaster declarations may be eligible for additional time to file and pay.

Taxpayers living outside the United States receive an automatic extension to June 15. All extensions filed has a due date of October 15.

Having trouble paying? IRS has options

Taxpayers who owe taxes have several payment options.

Those unable to pay in full by April 15 may qualify for online payment plans, including short- and long-term installment agreements. The IRS urges taxpayers to file their tax return and pay what they can, even if they cannot pay the full amount owed.

Interest and late-payment penalties will continue to accrue on unpaid balances after April 15. However, the failure to pay penalty is reduced by half while an installment agreement is in effect. More information is available on IRS.gov under About Form 9465, Installment Agreement Request.

Taxpayers can find these resources and more on the Let Us Help You section of IRS.gov, which provides quick access to filing assistance, refund information, payment options, and answers to common questions.

Source: Internal Revenue Service, 2026

Questions or concerns? Contact us here.

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Had a baby this year or next?

Filers signed up 4 million children for Trump Accounts

Taxpayers have signed up more than 4 million children for tax-favored Trump Accounts. More than 1 million of those children are covered by elections for the $1,000 Trump Accounts pilot program contribution. Eligibility for the $1,000 pilot program contribution depends on when the child was born.

Tax professionals can remind their qualifying clients about Trump Accounts. Use IRS Form 4547, Trump Account Election(s), to request establishment of a Trump Account and to enroll in the pilot program.

Also, the IRS released a preview draft of Form 5498-TA, Trump Account Contribution Information. Visit trumpaccounts.gov for more information on Trump Accounts. For more information on the provisions of the legislation, see the One, Big, Beautiful Bill Provisions page on IRS.gov.

Source: Internal Revenue Service, 2026

Assistance for eligible senior taxpayers

Eligible seniors can take advantage of enhanced deductions that could reduce their taxable income and increase refunds due to the One, Big, Beautiful Bill. Additionally, the IRS offers many filing season resources to help seniors.

Check these links:

During tax years 2025 through 2028, seniors age 65 and older may claim an additional $6,000 deduction on top of the standard deduction for seniors under existing law. The deduction phases out for taxpayers with modified adjusted gross income over $75,000 or $150,000 for joint filers.

Eligibility for the new enhanced deduction for seniors

Additional deduction for seniors

2026 Filing season updates and resources for seniors

Tax deductions for working Americans and seniors

What tax scams target seniors

The IRS and Security Summit partners warn taxpayers about scammers that target people over age 65 or nearing retirement for personal, financial information or money.

When preparing to file taxes, keep an eye out for scams

Key Filing & Payment Dates - 2026

April

April 15:
- Deadline for tax filing for individuals and C Corporations.
- Deadline for any tax payments are due for 2025
- 1st quarter estimated tax payments due for 2026

June

June 15:
- Deadline to file extensions for taxpayers living outside the United States
- 2nd quarter estimated tax payments due for 2026

September

September 15:
- Deadline to file tax return for S Corporations and Partnerships that filed extensions in March
- 3rd quarter estimated tax payments due for 2026

October

October 15:
- Deadline to file tax return for C Corporations and Individuals that filed extensions in April/June

Global News - Tax Reading List

Italy For Income Tax In Italy – 28000 Is The Magic Number

Italy How Can I Save On Inheritance Tax In Italy?

Netherlands Dutch Tax Policy Guidance On Foreign Pension Funds

Spain Wealth Tax In Catalonia – Frequently Asked Questions

European Union EU Tax Alert 214

Spain 0% Tax When Selling Your UK Business

Spain Your Guide For Moving To Spain

United States Don’t Blame USPS For Missing Your Filing Or Payment Deadline!

United States IRS Proposes Meaningful Reforms To Criminal Investigation Voluntary Disclosure Practice

United States Changes To Tax Administration On The Horizon: Senate Finance Committee Proposes Major IRS Administration Changes

United States New International Tax Rules Reshape Planning For 2026

United States No Income Taxes On Qualified Tips

United States US Government Reduces Renunciation Fee, Record Wait Times Set To Explode?

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ARE YOU COMPLIANT WITH THE IRS?

If you have not filed your tax returns or FBARs for several years, the IRS allows you to file under an amnesty program to avoid the "failure-to-file" penalties. However, even if you have not filed for ten years, you only have to file for the last three years and the current year...so it's four years filing and you are caught up and compliant. Contact us for more information or questions.

You would have to file the last three years (2022, 2023, 2024) and the current year (2025). For the FBARs, the last six years (2019-2024) plus the current year (2025).

Tax consultation available

Please contact us if you wish to arrange for a time to speak concerning your tax situation. We can conduct telephone or Zoom consultations. Appointments can be made here. Or you can contact us by email with any questions or concerns for this tax season.

Check our website ... www.mirtaxes.com