2026 Tax Season Updates & Key Deadlines
2026 Tax Season Updates & Key Deadlines
As we settle into 2026, we wanted to share important tax season updates and deadlines to help you navigate the coming months with clarity and confidence. Below, we’ve outlined key timelines for tax documents, retirement contribution opportunities, and required minimum distributions (RMDs).
Tax Documents
For the 2025 tax year, Schwab anticipates delivering the initial batch of Form 1099s by the end of February 2026, with additional corrected 1099s posted in March and April.
Corrected 1099s are commonly issued due to investment reclassifications, late reporting from fund companies, or adjustments to dividend and capital gain distributions.
To help promote accuracy and reduce the likelihood of needing to file an amended return, you may consider delaying filing until April 15, 2026. If a corrected Form 1099 is issued after a return is filed, you should consult your tax professional to determine whether an amendment is appropriate based on your individual tax situation.
Retirement Plan Contributions
Certain retirement accounts allow contributions for the prior tax year (2025) up until the tax filing deadline on April 15, 2026. If you’re considering a last-minute contribution, please reach out to us well in advance so we can help coordinate timing and eligibility.
2025 contribution limits include:
- Traditional or Roth IRA: $7,000 ($8,000 if age 50+)
- Health Savings Account (HSA): $4,300 individual / $8,550 family ($1,000 additional if age 55+)
- SEP IRA: Up to 25% of compensation or $70,000, whichever is lower
- Note: SEP IRA contributions may be made up to your business tax filing deadline, including extensions (potentially as late as October 15, 2026, for extended returns). Please confirm your specific deadline with your tax professional.
- 401(k) Employer Contributions: Varies by plan
- Note: Employer contribution timing varies by plan, and many employer contributions may be made up to the employer’s tax filing deadline (including extensions). Please confirm details with your employer or plan provider.
Looking Ahead: Roth Catch-Up Contributions (Effective 2026)
Beginning January 1, 2026, SECURE Act 2.0 requires that employees age 50 and older whose prior-year wages from their employer exceed $150,000 (indexed for inflation) must make any 401(k), 403(b), or governmental 457(b) catch-up contributions on a Roth (after-tax) basis.
Additionally, individuals ages 60-63 are eligible for enhanced “super catch-up” contribution limits. For higher-income earners, these enhanced catch-up contributions must also be made on a Roth basis starting in 2026.
These changes do not apply to IRAs and affect only catch-up contributions, not standard salary deferrals.
If you anticipate making catch-up contributions in 2026 and beyond, we encourage reviewing how this may affect your tax planning strategy with your advisor and tax professional.
Required Minimum Distributions (RMDs)
Under SECURE Act 2.0, the required minimum distribution starting age is 73. Individuals who turn 73 in 2026 must begin taking RMDs from applicable retirement accounts, with the first distribution due by April 1, 2027.
While the first RMD can be delayed until April 1 of the following year, doing so may result in higher taxable income, as it would require taking two RMDs in the same calendar year. As a result, timing should be reviewed carefully with your advisor and tax professional.
If you have questions about RMD timing or would like to explore tax-efficient withdrawal strategies, please don’t hesitate to reach out.
Proactive Planning & Next Steps
As always, we’re here to help you stay ahead of important deadlines and will continue sharing timely updates throughout the year. If you’d like to talk through how any of these updates apply to your situation, or if someone you know could benefit from a planning conversation, please reach out anytime. We’d love to connect.
It’s a privilege to navigate life and money with you, and we’re deeply grateful for your continued trust.
With Optimism,
The Tschetter Group Planning Team
Important Disclosures
The content of this article is provided for general information purposes only and is presented solely as our opinion. The information was compiled from sources that we believe to be reliable, however, we cannot guarantee its accuracy, completeness, or timeliness. This article is based on the information available to us as of the date of this article and may change at any time. Tschetter Group does not provide tax and legal advice. Please consult your legal and tax professional for specific information.