Key Tax Deadlines for 2026

The most important date on your calendar is April 15, 2026, the deadline for individual tax returns (Form 1040) and the first quarter estimated tax payment for the 2026 tax year. But that is not the only deadline you need to know:

• January 31, 2026: Employers must send W-2 forms to employees. Businesses must send 1099 forms to contractors.
• March 16, 2026: S-Corp (Form 1120-S) and Partnership (Form 1065) returns are due. This is a month earlier than individual returns, and many business owners miss this.
• April 15, 2026: Individual returns (Form 1040), C-Corp returns (Form 1120), first quarter estimated tax payment, and the deadline to file for an automatic 6-month extension.
• June 15, 2026: Second quarter estimated tax payment due.
• September 15, 2026: Extended S-Corp and Partnership returns due. Third quarter estimated tax payment.
• October 15, 2026: Extended individual and C-Corp returns due.
• January 15, 2027: Fourth quarter estimated tax payment for the 2026 tax year.

If you are a business owner filing an S-Corp or Partnership return, the March 16 deadline is critical. Missing it results in a penalty of $220 per shareholder per month, and that adds up fast for multi-member entities.

Documents You Need Before Filing

Before you sit down with your CPA or open your tax software, gather these documents. Having everything organized before your appointment saves time and ensures your CPA can find every deduction you qualify for.

For individual returns:

• W-2 forms from all employers
• 1099 forms (1099-NEC for freelance income, 1099-INT for interest, 1099-DIV for dividends, 1099-B for investment sales, 1099-R for retirement distributions)
• Last year’s tax return for comparison and carryover items
• Social Security numbers for you, your spouse, and dependents
• Receipts for itemizable deductions: mortgage interest (Form 1098), property taxes paid, charitable donations, medical expenses exceeding 7.5% of AGI
• Student loan interest paid (Form 1098-E)
• Health insurance coverage documentation (Form 1095-A if you used the marketplace)

For business returns (in addition to the above):
• Profit and loss statement for the full year
• Balance sheet as of December 31, 2025
• Bank and credit card statements for all business accounts
• Receipts for business expenses (rent, utilities, supplies, software, insurance, marketing)
• Vehicle mileage log if claiming business use of a personal vehicle (IRS standard rate: 70 cents per mile for 2025)
• Payroll reports if you have employees
• 1099s you issued to subcontractors
• Depreciation schedules for business assets

If your bookkeeping is up to date, most of these documents are already organized. If your books are behind, getting them caught up before filing is essential. Filing with incomplete records leads to missed deductions and potential IRS issues down the road.

5 Costly Mistakes Dallas Taxpayers Make Every Year

After 30 years of preparing returns for Dallas-Fort Worth clients, Al Freideman has seen the same mistakes come up again and again. Here is how to avoid them:

1. Waiting until the last week to start. The biggest mistake is not a tax mistake, it is a timing mistake. Scrambling to gather documents in the first two weeks of April leads to overlooked deductions, data entry errors, and the stress of wondering whether your CPA can even fit you in. Start in February.

2. Not reporting all income. The IRS receives copies of every W-2 and 1099 issued to you. If your return does not match their records, you will receive a CP2000 notice and potentially owe additional tax plus penalties and interest. Freelancers and gig workers are especially prone to this.

3. Missing deductions you qualify for. The average small business owner leaves $5,000 to $10,000 in legitimate deductions on the table every year. Home office deduction, vehicle expenses, health insurance premiums for the self-employed, retirement plan contributions, and the qualified business income deduction (Section 199A) are commonly missed.

4. Filing the wrong entity type. If your LLC is taxed as a sole proprietorship but would save money as an S-Corp, you are overpaying on self-employment tax every year. The right entity structure can save $5,000 to $15,000 annually for businesses earning $80,000 or more in net profit. Talk to your CPA about entity election before the March 15 deadline.

5. Ignoring estimated tax payments. If you are self-employed or have significant non-wage income, the IRS expects quarterly estimated payments. Skipping them results in an underpayment penalty, even if you pay the full amount when you file. The penalty rate for 2026 is based on the current federal short-term rate plus 3 percentage points.

Should You File an Extension?

Filing an extension (Form 4868) gives you until October 15, 2026 to file your return. But here is what most people get wrong: an extension to file is not an extension to pay. You still owe any tax due by April 15. If you do not pay by then, you will accrue interest and a late payment penalty of 0.5% per month on the unpaid balance.

That said, an extension makes sense if:

• You are waiting on a K-1 from a partnership or S-Corp that has not filed yet
• You had a major life event (sale of property, inheritance, divorce) and need time to sort out the tax implications
• Your books are not ready and filing an inaccurate return would be worse than filing late

If you need an extension, your CPA can file it in minutes. The key is to estimate what you owe and pay it by April 15 to avoid penalties.

DIY Software vs. Hiring a CPA: Which Makes Sense for You?

Tax software like TurboTax and H&R Block Online works fine for simple W-2 returns with no itemized deductions. If your tax situation is straightforward (one job, standard deduction, no investments) software can handle it for $50 to $150.

But if any of the following apply to you, a licensed CPA will almost certainly save you more than they cost:

• You own a business (sole prop, LLC, S-Corp, or partnership)
• You have rental property income
• You are self-employed with Schedule C income
• You received an IRS notice, letter, or audit notification
• You have stock options, RSUs, or complex investment income
• You went through a major life change (marriage, divorce, home sale, inheritance)
• You are not sure if your entity type (LLC vs S-Corp) is optimized

At AG Freideman, individual tax preparation starts at $450 for basic returns and $750 to $1,200 for Schedule C filers. Business returns (S-Corp, Partnership) run $1,000 to $2,000 depending on complexity. You can see our full pricing here. No hidden fees, no surprises.

The average client saves more in found deductions than they pay for our services. That is the difference between software that processes your numbers and a CPA who reviews your entire financial picture.

What Happens If You Do Not File?

Do not skip filing, even if you cannot pay. The failure-to-file penalty (5% per month, up to 25% of unpaid tax) is ten times steeper than the failure-to-pay penalty (0.5% per month). Filing on time, even without full payment, dramatically reduces your penalty exposure. If you are behind on multiple years of filing, that is something we handle regularly. Al Freideman has over 30 years of experience in IRS representation, including back taxes, penalty abatement, installment agreements, and audit defense. The sooner you address it, the less it costs.

Frequently Asked Questions

When are taxes due in 2026?

Individual returns (Form 1040) are due April 15, 2026. S-Corp and Partnership returns are due March 16, 2026. If you file an extension, the extended deadline is October 15, 2026 for individuals and September 15, 2026 for S-Corps and Partnerships. Estimated tax payments are due quarterly: April 15, June 15, September 15, and January 15.

How much does it cost to have a CPA do my taxes in Dallas?

At AG Freideman, individual returns start at $450 to $600 for basic 1040s and $750 to $1,200 for Schedule C filers. Business returns (S-Corp, Partnership) run $1,000 to $2,000. These prices include e-filing, one state return, and a personal review by Al Freideman, CPA. See our full pricing at agfreideman.com/pricing.

Can I still file if I missed the April 15 deadline?

Yes. File as soon as possible to minimize penalties. If you owe tax, interest and penalties accrue from the deadline, but filing late is always better than not filing at all. If you need help with a late filing, call us at (972) 893-3481 for a free consultation.

What is the penalty for filing taxes late in Texas?

Texas has no state income tax, so there is no state penalty. The federal failure-to-file penalty is 5% of unpaid tax per month (up to 25%). The failure-to-pay penalty is 0.5% per month. If you file more than 60 days late, the minimum penalty is the lesser of $510 or 100% of unpaid tax.

Ready to File Your 2026 Taxes?

Do not wait until April to start. Book your free consultation with Al Freideman, CPA today. With 30+ years of experience and 52+ five-star Google reviews, we handle everything from simple 1040s to complex multi-entity business returns, personally, accurately, and on time.

Call (972) 893-3481 or Book online

AG Freideman Tax & Accounting Firm

17304 Preston Road Suite 861, Dallas, TX 75252