You can start preparing your taxes as early as late January, when the IRS typically opens the filing period for the previous year’s returns. It’s essential to gather all necessary documents , like W-2s and 1099s, to guarantee accurate income reporting . Organizing your financial records and reviewing last year’s return for potential deductions or credits can save you money. Comprehending the timeline and requirements will help you navigate the tax season effectively , but there’s more to take into account as you move forward. Key Takeaways Tax season typically starts in late January; for 2025, the IRS opens filing on January 27. You can prepare your tax return in advance, but filing won’t be processed until the official start date. Gather necessary documents like W-2s and 1099s by the end of January for a smoother filing process. Filing your taxes early can help prevent identity theft and may save money on tax software.…