Hello, February! This is the month that our thoughts turn to love and taxes.
OK, maybe it’s just my thoughts. But we definitely need to squeeze a bit of tax consideration in this month whose highlight, for many, is Valentine’s Day.
Even though it’s the second month of the year, it’s the first full month of the annual tax-filing season. That means it is the time when most of us finally start focusing on our Form 1040.
So, since February also is the shortest month, and since we’re already three days into it, I’ll cut to the tax chase and keep this month’s recommended tax moves brief.
1. Keep an eye out for tax statements. Jan. 31 is the day that W-2 and various other earnings statements are supposed to be delivered to workers. Guess what? That date usually slips. Today, for example, I got three 1099 statements in my snail mail box, and another alerted me last month not to expect that one until next week.
So, try to be patient. Keep an eye on your curbside and computer mailboxes. If you’re unsure about what documents you’re waiting for, check your 2024 filing. That will give you an idea of what statements you might still be missing.
And if we get deeper into February and it looks like an issuer has missed the deadline, or your mail carrier has misplaced the paper document, give the issuer a call.
2. Decide how you’ll file. Once you get all your tax statements, it’s time to determine how to get that information to the Internal Revenue Service. Most of us will take the electronic filing route. But will we do it ourselves, or get tax help?
If your taxes are simple, tax software should suffice. Even if they’re more complicated, if you’re comfortable filing your own taxes, the computer tax packages can work for a lot of filers. You can buy the software and put it on your computer for more control. Or you can use the manufacturers’ online versions.
But before shelling out cash for a software program, see if you can get it at reduced or no cost.
Some financial institutions offer their customers discounts on popular software programs. There’s also Free File, available this filing season to taxpayers, regardless of filing status, with adjusted gross income of $89,000 or less. If you’re eligible, you can choose this year from eight tax software options.
Many lower- and middle-income and elderly taxpayers can get more personal tax help by visiting an IRS-sanctioned Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) locations. Qualifying taxpayers can get no-cost tax preparation and efiling help from IRS-certified volunteers at these locations.
This year, the IRS awarded $53 million in grants to organizations that sponsor 315 VITA and 48 TCE programs in communities across the United States. Find one near you at IRS.gov’s searchable VITA and TCE locator page.
Finally, if your taxes are more complicated or you’re facing some new issues thanks to new tax laws that were part of the One Big Beautiful Bill Act, it could be worthwhile to hire a tax professional. One place to start is the IRS Directory of Federal Tax Return Preparers with Credentials and Select Qualifications.
Note, however, that most tax pros are already helping clients who came to them much earlier, so your return will be at the end of the filing line. But at least you’ll be in line.
3. Track down your refund. If you’ve already filed your return, you’re probably expecting a refund. This is the month that taxpayers who filed early tend to head back to their devices to check on the status of their refunds.
The IRS’ online search tool Where’s My Refund? can give you a personalized refund date after the agency has processed your return and approved your refund. The IRS says your refund information should be available around 24 hours after you e-file your current return, or four weeks after you snail mail a paper return.
But don’t wear out your computer, phone, or tablet checking on your refund. Where’s My Refund? data is updated once a day, overnight, generally between 4 and 5 a.m. Eastern time. So, if you check at 3 p.m. today, you’ll get the same information that you got when you logged on at 7 a.m. to check your tax cash’s whereabouts.
Note, too, that if you claimed the Additional Child Tax Credit and/or Earned Income Tax Credit, your refund is automatically delayed. The IRS is prohibited by law from issuing your refund until mid-February. This change was made years ago to give the IRS more time to doublecheck these refundable tax credit claims and catch the fraudulent ones.
And even though Feb. 15 is the legal refund release date for refunds due taxpayers who claimed these two tax credits, the actually delivery will take a few days to occur. So, again, be patient.
More love and taxes: Before I go, I want to return to my opening contention that love and taxes can coexist, if only in the land of dream making, aka Hollywood.
If you need a break from taxes in this romantic month, check out Love and Taxes. The 2015 film may be the first-ever pro-tax romantic comedy. I won’t spoil it, but the rom-com genre provides a big clue as to how things turn out for the tax-beleaguered protagonist.
OK, this promised brief look at February tax moves turned out to be longer than I planned. Sorry, but ain’t that always the way with taxes. They too often tend to get more complicated and time consuming than you hoped.
With that, I’ll let you go now, but with a quick reminder that you can find more tax potential tax moves to make in the ol’ blog’s monthly tax tips pages. January’s tips collection is done. I’m heading over to update the February page now, so give me a little time and check it later.
Update, Feb. 5, 2026: The February Tax Tips page now has tips, with more to be added throughout the month!
