What is a tax return?
A tax return is a form filed with the IRS (Form 1040 for individuals) that reports your income, deductions, credits, and tax payments for the year. The IRS uses it to determine whether you owe additional tax or are entitled to a refund. You must file if your gross income exceeds the filing threshold for your status, $16,100 for single filers under 65 in 2026.
Use our federal tax calculator to estimate what you'll owe before filing, or our tax bracket calculator to see which bracket you fall into.
2027 tax filing deadlines
When are tax returns due? Key dates for the 2027 filing season (for tax year 2026):
| Date | Deadline |
|---|---|
| April 15, 2027 | Federal tax return due (or file extension) |
| April 15, 2026 | Q1 2026 estimated tax payment due |
| June 15, 2026 | Q2 2026 estimated tax payment due |
| September 15, 2026 | Q3 2026 estimated tax payment due |
| January 15, 2027 | Q4 2026 estimated tax payment due |
| October 15, 2027 | Extended return due (if extension filed) |
How to file your tax return
E-file (recommended)
Use tax software (TurboTax, H&R Block, FreeTaxUSA) or a tax professional. Fastest refunds (21 days). Most accurate, software catches errors.
IRS Free File
Free federal e-filing at irs.gov/freefile for AGI under $84,000. IRS Direct File available in participating states for simpler returns.
Paper filing
Mail Form 1040 to the IRS. Slowest option, refunds take 6–8 weeks. Higher error rate. Only use if you can't e-file.
Where's my amended return?
If you filed Form 1040-X to correct a previously filed return, track its status using the IRS "Where's My Amended Return?" tool. Key facts:
- Processing: generally 8–12 weeks, and up to 16 weeks in some cases. The IRS gives one timeline for e-filed and paper amendments.
- Status shows up about 3 weeks after you file, online or by calling 866-464-2050
- The tool covers this tax year and up to 3 prior years
Tip: E-file your amended return whenever possible. It saves the mailing time, and only an e-filed 1040-X can have its refund deposited directly; a paper one is refunded by check. You can e-file Form 1040-X for the current year and two prior tax years.
How long to keep tax returns
The IRS can audit you within certain time frames. How long to keep tax returns depends on the situation:
| Situation | Keep For |
|---|---|
| Standard filing (no issues) | 3 years |
| Underreported income by 25%+ | 6 years |
| Claimed a loss from bad debt/worthless securities | 7 years |
| Fraudulent return or didn't file | Indefinitely |
Tax return vs. tax refund
Tax return
The form you file (Form 1040). Reports income, deductions, and credits. Required annually if you meet income thresholds.
Tax refund
Money the IRS sends back if you overpaid (via withholding or estimated payments). ~70% of filers get one, averaging ~$3,000.
FAQs
What is a tax return?
It's your yearly settling-up with the IRS. On Form 1040 you list what you earned and the deductions and credits you're claiming, which gives the tax you owe for the year. That is set against what was already withheld from your pay or paid in estimates: pay in more than you owe and the difference comes back as a refund, less and you pay the balance. For 2026 you're required to file once gross income passes $16,100 as a single filer under 65, or $32,200 married filing jointly.
When are tax returns due in 2027?
The deadline to file your 2026 federal tax return is April 15, 2027. If you request an extension (Form 4868), you have until October 15, 2027 to file, but you must still pay any estimated tax owed by April 15. Quarterly estimated tax payments for 2026 income are due April 15, June 15, September 15, and January 15, 2027.
Where's my amended return?
Give it two to three months. The IRS asks you to allow 8 to 12 weeks for a Form 1040-X, up to 16 in some cases, and to wait about three weeks after sending it before you look it up. Then use Where's My Amended Return? on irs.gov or phone 866-464-2050. E-filing doesn't come with its own, shorter timeline: it cuts out the mailing time, which the IRS puts at possibly a week or two, and lets you take any refund by direct deposit.
How long should I keep my tax returns?
The IRS recommends keeping tax returns for at least 3 years from the filing date (the statute of limitations for audits). Keep them 6 years if you underreported income by more than 25%. Keep records indefinitely if you filed a fraudulent return or didn't file at all. For property records, keep until 3 years after you sell the asset.
What is the difference between a tax return and a tax refund?
A tax return is the form you file with the IRS. A tax refund is money the IRS sends back to you if you overpaid your taxes (through withholding or estimated payments). You file a tax return, and if your total payments exceed your total tax liability, you receive a tax refund. About 70% of filers receive a refund, averaging around $3,000.
Do I need to file a tax return?
You must file if your gross income exceeds the filing threshold: $16,100 (single under 65), $32,200 (married filing jointly, both under 65), $24,150 (head of household) for 2026. You must also file if you have net self-employment income of $400+. Even if not required, file to claim refundable credits (EITC, child tax credit) or to get back withheld taxes.
Can I e-file my tax return for free?
Yes. IRS Free File (irs.gov/freefile) offers free federal e-filing for taxpayers with AGI of $84,000 or less through partner software. IRS Direct File is available in participating states for simpler returns. Free Fillable Forms are available for all income levels but provide no guidance. Most states also offer free e-filing options.
What is Form 1040-X (amended return)?
Form 1040-X is used to correct errors on a previously filed tax return, wrong filing status, unreported income, missed deductions or credits. You can amend returns up to 3 years after the original filing date. E-filing of 1040-X is available for the current year and two prior years. Paper amendments take 16+ weeks to process.
How do I check my refund status?
Use the IRS 'Where's My Refund?' tool at irs.gov/refunds or the IRS2Go mobile app. You'll need your SSN, filing status, and exact refund amount. E-filed returns are processed in about 21 days; paper returns take 6–8 weeks. The tool shows three stages: Return Received, Refund Approved, and Refund Sent.
What happens if I file my tax return late?
Filing late incurs a failure-to-file penalty of 5% of unpaid taxes per month (up to 25%). The failure-to-pay penalty is 0.5% per month. If you're owed a refund, there's no penalty for filing late, but you have only 3 years to claim it before it's forfeited. Always file on time or request an extension, even if you can't pay in full.