Filing taxes in 2026 may feel routine, but changing tax rules, increased reporting requirements, and stricter enforcement mean preparation matters more than ever. Whether you’re filing as a US resident or living abroad as an expat, having the right documents and understanding your obligations can save time, reduce stress, and prevent costly mistakes.
This guide outlines what to prepare for your 2026 tax filing, so you can file accurately and confidently.
1. Understand What “2026 Tax Filing” Means
Your 2026 tax filing generally refers to filing a tax return in 2026 for income earned in 2025.
Key dates to remember:
- Standard filing deadline: April 15, 2026
- Automatic expat extension: June 15, 2026(interest still applies)
- Extended deadline with extension: October 15, 2026
2. Gather Income Documentation
Collect all records of income earned during 2025.
Common Income Documents
- W-2 (US employment)
- 1099 forms (freelance, dividends, interest)
- Foreign income statements
- Self-employment income records
- Rental income statements
- Capital gains reports (stocks, crypto, property)
US citizens must report worldwide income, even if earned abroad.
3. Track Investment and Capital Gains Activity
If you traded stocks or cryptocurrency in 2025:
- Track purchase and sale dates
- Maintain accurate cost basis
- Record gains and losses
- Identify short-term vs long-term holdings
Crypto trades — including crypto-to-crypto exchanges — are taxable and must be reported.
4. Prepare Foreign Account Information (If Applicable)
If you held foreign financial accounts:
- Bank accounts
- Investment accounts
- Pension or retirement accounts
- Crypto held on foreign exchanges
You may need to file:
- FBAR (FinCEN Form 114)if total balances exceeded $10,000
- FATCA (Form 8938)if thresholds were met
These tax forms are separate from your tax return but critical for compliance.
5. Review Deductions and Credits
Maximize available tax benefits by preparing supporting documentation.
Common Deductions & Credits
- Standard vs itemized deductions
- Child Tax Credit
- Education credits
- Retirement contributions
- Charitable donations
- Health savings account (HSA) contributions
Eligibility and thresholds may change, so review carefully.
6. Prepare Expat-Specific Tax Information
If you lived or worked abroad in 2025, gather:
- Proof of foreign residency
- Travel records
- Foreign tax paid documentation
- Housing expense records
- Employer contracts
These documents support:
- Foreign Earned Income Exclusion (FEIE)
- Foreign Tax Credits (FTC)
- Housing exclusions or deductions
7. Check Business and Self-Employment Records
If you’re self-employed or own a business:
- Income and expense summaries
- Receipts and invoices
- Mileage logs
- Home office documentation
- Estimated tax payments made
Accurate records reduce audit risk and ensure proper deductions.
8. Verify Personal Information
Before filing:
- Confirm Social Security numbers
- Update mailing addresses
- Verify bank account details for refunds
- Review filing status and dependents
Small errors can delay refunds or trigger IRS notices.
9. Review Prior-Year Tax Returns
Looking at your 2024 return can help:
- Identify carryforward losses or credits
- Ensure consistency
- Avoid repeating mistakes
- Confirm estimated tax requirements
10. Plan for Payments or Refunds
Determine whether you’re likely to:
- Owe additional tax
- Receive a refund
- Need a payment plan
- Make estimated tax payments for 2026
Planning early prevents last-minute surprises.
Common Mistakes to Avoid in 2026
- Missing foreign reporting forms
- Forgetting crypto transactions
- Ignoring estimated tax payments
- Relying on outdated tax rules
- Filing without reviewing changes for 2026
Conclusion
Preparing for your 2026 tax filing isn’t just about gathering documents — it’s about understanding your obligations, planning ahead, and ensuring compliance with evolving tax rules. Whether you’re a US resident or living abroad, organized preparation leads to smoother filing and better outcomes.
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