Tax Season is Here: Key Changes to Expect and How to Be Prepared
Tax season is notoriously one of the most stressful times of the year, but it doesn’t have to be. Taking steps to be prepared, knowing what changes to expect and having the support of your credit union can help you feel more confident as you file your taxes.
Key Things to Keep in Mind This Season
Know Your Timeline
- January 26, 2026 – Tax season officially begins, and the IRS starts accepting and processing 2025 tax returns
- February 2, 2026 – Deadline for employers to send W-2 forms and most 1099s
- April 15, 2026 – Federal tax filing deadline
- October 15, 2026 – Extension deadline (if requested by April 2026)
Have All of Your Documentation
- W-2 or 1099 income forms
- Mortgage or student loan interest statements
- Childcare or education expenses
- Charitable donation documentation
- Proof of IRA or HSA contributions
- Refund deposit information (routing and account number of your PACU account)
Evaluate If This Is a Good Time to Change Your Financial Plan
- While you may dread filing your taxes and see it as just another pesky task to check off, it could be the perfect opportunity to reset financially.
- Your tax refund can be a significant boost to reduce debt, cover upcoming expenses or grow your savings.
- Looking over your year-end finances can also highlight where you may want to make changes in 2026. For example, maybe your car broke down over the summer. As a result, you had to dip into your emergency savings to cover the repair, and you plan to save money in the upcoming year to replenish it.
Know How Your PACU Team Can Support You
- During any time of year, not just tax season, our Certified Credit Union Financial Counselors are here to help you make financial decisions and create a plan for future goals.
- PACU provides Health Savings Accounts (HSAs) and Individual Retirement Accounts (IRAs), which can offer tax advantages to help optimize potential deductions.
- We also offer financial advising through Piedmont Advantage Investment Solutions. By taking a personalized approach to your financial plan, our financial advisor, Fitz McMurry, helps you plan your journey and reach your destination.
Whether planning for the year ahead or preparing to file, PACU is here to support your financial goals, make tax season less stressful, and keep you informed.
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Headquartered in Winston-Salem, North Carolina, and founded in 1949 within the aviation industry, Piedmont Advantage Credit Union (PACU) serves member-owners, who reside, work, worship, attend school or operate a business in one of the six counties it serves in North Carolina or who are employed by one of its many employer companies. These six counties are Davie, Forsyth, Guilford, Iredell, Mecklenburg and Rockingham.