The IRS opens the federal individual income tax filing season on January 26, 2026.
Source summary
In a speech to the Economic Club of
Minnesota, Treasury Secretary Scott Bessent praised President Donald Trump’s first year back in office, contrasting what he called a strong "Trump economy" with the "Biden economy" of high inflation, interest rates, and costs. Bessent highlighted the Working Families Tax Cut Act, Trump’s trade and tariff policies, and deregulation as drivers of higher investment, innovation, and income, particularly citing new business investment and support for agriculture and manufacturing. He promoted new "
Trump Accounts" that would grant every newborn a $1,000 Treasury-funded investment, called on businesses to match these contributions, and announced that the 2026 tax filing season will begin on January 26. Bessent also criticized Minnesota’s state leadership and a major welfare fraud case, pledging Treasury’s commitment to recover funds and prevent similar scams while urging Minnesota businesses to embrace Trump’s pro-business agenda.