Your Taxes, Your Money!

UPDATES

Posted on Mar. 2, 2026 by Palacios Tax Service

The 2025 federal income tax return filing deadline is April 15, this year. Failing to file your tax return by midnight on Tax Day could cost you a failure-to-file penalty, which is 5% of unpaid taxes for each month (or partial month) the tax return is late. If you are owed a tax refund, you don’t have to worry about this penalty. 

Filing deadline for prior-year returns: If you were eligible for a tax refund for the 2022 tax year, April 15, 2026, is also the deadline to file that return. If you don’t file by Tax Day, you could forfeit any refund you are owed.

Posted on Mar. 1, 2026 by Palacios Tax Service

IRS Impersonators - Many clients have asked about calls they've received from the IRS.  It's important to know the IRS will not initiate contact with you by email or social media to request personal information. Phone scams impersonating the IRS often make legal threats. The IRS does not leave urgent messages and does not demand payment via gift card or crypto currency. 

Posted on Jan. 11, 2026 by Palacios Tax Service

The Internal Revenue Service announced Monday, January 26, 2026, as the opening of the nation’s 2026 filing season. This year, several new tax law provisions of the One, Big, Beautiful Bill become effective, which could impact federal taxes, credits and deductions.

Taxpayers have until Wednesday, April 15, 2026, to file their 2025 tax returns and pay any tax due. The IRS expects to receive about 164 million individual income tax returns this year, with most taxpayers filing electronically.

Posted on Jan. 7, 2026 by Palacios Tax Service

With the 2026 filing season quickly approaching, the Internal Revenue Service is urging taxpayers to take a few simple steps now to prepare for filing their 2025 federal income tax returns. Visit Get Ready on IRS.gov for checklists and additional updates. 

Posted on Jan. 12, 2025 by Palacios Tax Service

The IRS has announced the nations 2025 tax season will start on Monday, Jan. 27, 2025.  The IRS expects more than 140 million individual tax returns for tax year 2024 to be filed ahead of the Tuesday, April 15 federal deadline. More than half of all tax returns are expected to be filed this year with the help of a tax professional, and the IRS urges people to use a trusted tax pro to avoid potential scams and schemes. 

Posted on Dec. 31, 2024 by Palacios Tax Service

The IRS has not announced the exact date for 2025 when they will be accepting tax returns.  However, taxpayers can expect it to be around 1/29 based on previous years' patterns.  In any case, it’s never too early to prepare and plan.  Having well-organized tax records can make filing a complete and accurate return easier and help avoid errors that can delay refunds. This may also help identify deductions or credits that may have been overlooked. 

TAX TOOLS & RESOURCES

Palacios Tax Service - 2025 Tax Return Checklist

Palacios Tax Service - Small Business Records and Expenses

Palacios Tax Service - 2025 Tax Return Checklist (Spanish)

Palacios Tax Service - Small Business Records and Expenses (Spanish)