Get Ready for the 2026 Tax Filing Season: Key Tips & Examples from Velin & Associates, Inc.

The new year is weeks away — which means the 2026 tax filing season is approaching fast.
The IRS recently released Tax Tip 2025-70, reminding taxpayers to start preparing now to avoid delays, reduce mistakes, and take advantage of new tax-saving opportunities.

With major changes introduced by the One, Big, Beautiful Bill (OBBB) — including new deductions, expanded credits, and updated rules for reporting income — early preparation is more important than ever.

At Velin & Associates, Inc., many taxpayers we serve (YouTubers, Shopify store owners, Amazon sellers, doctors, dentists, medical practice owners, creatives, and high-net-worth individuals) miss key filing steps simply because they start too late.

Below is a clear, updated guide based on new IRS reminders — including realistic examples showing how these rules apply to the kinds of clients we support.

1. Create or Log Into Your IRS Online Account

An IRS online account gives taxpayers a secure way to access their personal tax information.
This tool is extremely valuable during filing season because it allows you to:

• View your tax transcripts and adjusted gross income (AGI)
• Access old returns
• Set up or manage payment plans
• View and download W-2s and certain 1099s
• Get your Identity Protection (IP) PIN
• Authorize your CPA to access tax records
• View more than 200 types of digital IRS notices
• Check balances and make payments

Example: YouTuber / TikTok Creator
A creator who receives over a dozen 1099s from brand partnerships and platforms often misplaces documents. By logging into their IRS account early, they can access missing 1099s and prevent filing delays — and avoid IRS letters for underreported income.

This is especially important for:
CPA for YouTubers | CPA for TikTokers | CPA for Creators | CPA for Filmmakers

2. Gather & Organize Tax Records Before January

The IRS stresses that organized records lead to accurate returns, fewer errors, and faster refunds.

Taxpayers should collect:

• W-2s
• 1099-NEC, 1099-K, 1099-MISC
• 1099-INT or 1099-DIV
• Business expense records
• Digital asset income documentation
• Unemployment compensation records
• Loan interest statements
• Medical or childcare expense receipts

Example: Shopify Store Owner
A Shopify seller receives income from multiple payment processors (Stripe, PayPal, Shopify Payments). Each platform may issue different 1099s — or none at all if below certain thresholds.
By organizing statements early, they avoid mismatched income reporting and IRS notices.

Applicable keywords:
CPA for Shopify Store | Shopify Store CPA | CPA for Online Commerce | Amazon Business CPA

3. Understand What Income Is Taxable Now (Important OBBB Updates)

The IRS reminds taxpayers that almost all income is taxable, including:

• Gig income
• Digital asset income
• Unemployment benefits
• Refund interest
• Earnings from online platforms and marketplaces

Under the OBBB, several new deductions and tax breaks may now apply — including updates for tips, overtime, car loan interest, and senior benefits.

Example: Doctor or Dentist in Private Practice
A medical practice owner receiving telehealth consulting income through a third-party platform may now receive a 1099-K depending on volume.
If they wait until February to start gathering records, this income sometimes gets overlooked — creating filing errors, penalties, and amended returns.

Applicable keywords:
CPA for Doctors | CPA for Dentists | CPA for Medical Practice | Dental Business CPA

4. Prepare for New 1099-K Rules (Especially Online Sellers & Creators)

The IRS emphasizes that taxpayers must report all income, even if a 1099 is not issued.

Starting with OBBB updates:

• 1099-Ks are issued only when both thresholds are met:
  ✔ More than $200,000 in gross payments
  ✔ More than 200 transactions
• But payment card companies (credit, debit, gift card processors) must issue a 1099-K even if the amount is just 1 cent.
• A taxpayer who receives an incorrect 1099-K must report the correction on Schedule 1.

Example: Filmmaker or Creator Selling Tickets Online
A filmmaker selling premiere tickets on a platform may receive multiple 1099-Ks — even for personal-ticket resales or small refunds.
By reviewing these early, they avoid misreporting profit/loss and prevent tax notices.

Applicable keywords:
CPA for Filmmakers | CPA for Creators | Online Commerce CPA

5. Review Your Withholding, Estimated Taxes & Payment Plans

This is crucial for:

• Self-employed creators
• Shopify and Amazon sellers
• High-net-worth individuals
• Dentists and medical practice owners

The IRS urges taxpayers to make sure:

• Withholding reflects actual income
• Estimated payments are current
• Payment plans are updated in their IRS account

Example: High-Net-Worth Client
A high-income real estate investor receives multiple K-1s that often arrive late.
By reviewing estimated taxes with their CPA early, they avoid underpayment penalties — a common issue among high-net-worth individuals.

Applicable keywords:
CPA for High Net Worth Individuals

6. Start Planning for New 2025–2026 Law Changes Early

The IRS warns taxpayers that OBBB introduces numerous new rules, affecting deductions and credits for:

• Tips
• Overtime
• Car loan interest
• Senior taxpayers
• Telehealth and healthcare expense rules
• Marketplace income reporting

Reviewing these now prevents missed opportunities in 2026.

Example: Amazon Seller
An Amazon seller who pays contractors for photography or packaging may be eligible for the new tips deduction, depending on how payments are processed.
By preparing early with a CPA, they maximize new deductions available only under the OBBB.

Applicable keywords:
Amazon Business CPA | CPA for Amazon Business

Why Preparing Now Matters

Early preparation helps taxpayers:

✔ Avoid IRS delays
✔ Prevent missing forms
✔ Catch reporting errors
✔ Maximize new OBBB deductions
✔ Organize business income correctly
✔ Update withholding and estimated tax strategies
✔ Give their CPA enough time to file accurately

At Velin & Associates, Inc., we see every year that taxpayers who start early have smoother filing seasons, fewer IRS notices, and lower tax bills thanks to proactive planning.

How Velin & Associates, Inc. Can Help Before Tax Season Begins

Our team specializes in tax planning for:

• YouTubers & TikTok creators
• Shopify & Amazon sellers
• Online commerce businesses
• Filmmakers & creative professionals
• Doctors, dentists & medical practices
• High-net-worth individuals

We help clients:

• Organize and prepare their tax documents
  • Identify missing or incorrect 1099s
  • Maximize new deductions under OBBB
  • Review withholding and estimated taxes
  • Plan ahead for 2026 law changes
  • Create a customized tax strategy tailored to their industry

Contact Velin & Associates, Inc.

If you want to enter tax season prepared — with fewer surprises and more savings — we’re here to help. For more information about our tax planning services, contact us today: visit our website.

Velin & Associates, Inc

8159 Santa Monica Blvd STE 198/200 West Hollywood, CA 90046
323-902-1000
dmitriy@losangelescpa.org

CPA for YouTubers | CPA for Shopify Store | CPA for Online Commerce | CPA for Creators | Shopify Store CPA | CPA for Filmmakers | CPA for Amazon Business | Amazon Business CPA | CPA for Dental Practice | Dentist CPA | Dental Business CPA | Online Commerce CPA | CPA for TikTokers | CPA for Doctors | CPA for Medical Practice | CPA for High Net Worth Individuals