Tax filing season is still ahead, but households can begin reviewing the information that will shape their next return.
In an October 23 reminder, the Internal Revenue Service encouraged taxpayers to check tax payments and organize financial records before the 2027 filing season. Changes in employment, income, or family circumstances can affect how much you owe or receive as a refund.
Review paycheck withholding
The IRS Tax Withholding Estimator allows eligible workers and recipients of pensions or annuities with federal withholding to estimate whether their payments are on track.
The agency recommends reviewing withholding after events such as a job change, a significant income change, marriage, divorce, or the birth or adoption of a child.
Taxpayers who decide to adjust paycheck withholding can submit a new Form W-4 to their employer. The estimator can help generate a completed form based on the information entered.
Account for income outside a paycheck
People with self-employment, gig work, or other income without withholding may need to make estimated tax payments.
The IRS reminder identifies small-business owners and self-employed workers among those who should review whether these payments apply to their circumstances.
Records of side work and online payments also matter. Whether income must be reported does not depend solely on receiving a tax form from the payer. Taxpayers should use their own records alongside information returns to determine the correct reporting.
Start a filing folder
A paper folder or secure electronic system can keep documents in one place as they arrive.
Useful records include the prior year’s return, IRS correspondence, income statements, and documentation supporting deductions or credits. You may also need investment and digital-asset transaction records.
The goal is to identify missing information before preparing the return.
Note household changes
A home purchase, college attendance, job loss, marriage, divorce, or a change in dependents can affect filing status or eligibility for tax benefits.
Keeping a short record of those events can help taxpayers identify questions to review when preparing their return. Eligibility for a credit or deduction depends on its specific requirements.
Use official resources
The IRS Tax Withholding Estimator and Get Ready to File page provide tools and preparation information.
Reviewing records now gives households time to locate documents, check payment amounts, and address questions before filing.
Sources: Internal Revenue Service.