It is a list of things to review, not a list of things to do. Whether any of them makes sense depends on your income, your family and your plan documents, so treat this as general information and confirm details on the IRS pages linked at the bottom.
The IRS Tax Withholding Estimator is a free check that the IRS says takes about 25 minutes. It shows whether your withholding is on track while there is still time left in 2026 to adjust it.
1. Check your paycheck withholding
If you have a job, the IRS Tax Withholding Estimator is the quickest way to see whether your withholding is on track. The IRS says it takes about 25 minutes, it does not ask for your name, Social Security number or bank details, and your answers are not saved or shared with the IRS. The estimator reflects the 2025 law changes, including the deductions for tips, overtime and car loan interest and the enhanced deduction for seniors.
The IRS suggests checking withholding every January, and also after big changes such as a new job, a marriage or divorce, a new child or a home purchase. One detail is easy to miss: if you change your withholding during the year, you may need to update it again in late December so the right amount is withheld next year.
If the estimator says to change your withholding, it can fill in a Form W-4 for you to give to your employer. Our Form W-4 walkthrough explains each step.
2. Look at estimated taxes
If you have income without withholding, such as freelance work, interest or investment gains, the last 2026 estimated payment is due January 15, 2027. The 2026 Form 1040-ES says you can skip it if you file your 2026 return by February 1, 2027 and pay the entire balance due with it. We cover the details in our post on the fourth-quarter estimated tax payment.
3. Review retirement contributions
The IRS notes that certain contributions to a workplace retirement plan and to a traditional IRA may reduce your taxable income. These are the 2026 limits the IRS announced on November 13, 2025:
| Account | 2026 limit |
|---|---|
| 401(k), 403(b), governmental 457 and Thrift Savings Plan | $24,500 |
| Catch-up, age 50 and over | $8,000 |
| Catch-up, ages 60 to 63 (replaces the $8,000 amount) | $11,250 |
| IRA (traditional and Roth combined) | $7,500 |
| IRA catch-up, age 50 and over | $1,100 |
Employee deferrals come out of your pay, so your current contribution rate is shown on your pay stub or plan website. Your plan's own rules also apply. As of October 19, 2026, the IRS had not published 2027 retirement limits (we checked its news releases through October 16, 2026), so the numbers above are the ones that apply to 2026.
4. Review your HSA and health FSA
For 2026, the IRS lists the HSA contribution limit at $4,400 for self-only coverage and $8,750 for family coverage, with an extra $1,000 if you are 55 or older at the end of the year. If you were eligible on December 1, the "last-month rule" may let you contribute for the full year, but there are testing-period conditions, so read Publication 969 before relying on it.
For health flexible spending arrangements, the 2026 salary-reduction limit is $3,400. If your plan allows carryover, the most you can carry over is $680. The carryover only applies if your plan permits it, so your plan's own rules are worth checking.
5. Think about charitable giving
This is the year a new rule starts. Beginning with tax year 2026, people who do not itemize can deduct up to $1,000 of cash gifts to eligible charities ($2,000 for married couples filing jointly). The IRS lists the limits:
- Only cash counts. Clothing, stock and other property do not qualify.
- The gift has to be made during the tax year, and prior-year carryovers do not count.
- Gifts to donor-advised funds and supporting organizations do not qualify.
If you plan to give, ask the charity to confirm it is an eligible organization and keep the receipt.
As a hypothetical illustration, say you do not itemize and give $400 in cash to an eligible charity before December 31. Under the new rule, that $400 can count toward the deduction, up to the $1,000 limit ($2,000 if you file jointly). A $400 donation of clothing would not count toward this particular deduction.
6. Know your standard deduction
If you do not itemize, you take the standard deduction. For tax year 2026, the IRS lists:
| Filing status | Standard deduction |
|---|---|
| Single or married filing separately | $16,100 |
| Married filing jointly | $32,200 |
| Head of household | $24,150 |
Your own total depends on factors such as age and blindness. If you are close to the line between the standard deduction and itemizing, our standard vs. itemized calculator gives a rough comparison, and the standard deduction explainer walks through the choice.
7. Don't count on credits that have ended
The IRS says the 2025 law ended several credits. Two matter for year-end spending:
The Energy Efficient Home Improvement Credit is not allowed for property placed in service after December 31, 2025, and the Residential Clean Energy Credit is not allowed for expenditures made after December 31, 2025. The New and Used Clean Vehicle credits are not allowed for vehicles acquired after September 30, 2025. If you were planning a purchase partly for a tax credit, check the IRS page before you buy.
The IRS also notes that, beginning in 2026, the Child and Dependent Care Credit rate rises from 35% to 50% of qualifying expenses, with the maximum qualifying expenses staying at $3,000 for one person and $6,000 for two or more. The amount you get depends on your income and other requirements.
8. Get your records in order
The IRS recommends keeping important tax records in one place, using either software or clearly labeled folders, and adding documents as they arrive. If you moved or changed your name this year, update your address with the IRS using Form 8822 and report name changes to the Social Security Administration. Our guide on how long to keep tax records explains what to hold on to.
The short version
If time is short, three items can be reviewed first: the withholding estimator, how much has gone into your retirement and health accounts so far this year, and whether the January 15 estimated payment applies to you. The rest can follow as time allows. Our printable year-end tax planning checklist and our page on charitable donation deductions go deeper on two of the biggest items. For HSA rules, see the HSA tax deduction explainer.
The sources below are the official pages these numbers come from. Open them and confirm before you act.
Sources
Figures, dates and rules in this post were checked against these official pages on October 19, 2026. Open them to confirm the current numbers before you act.
- IRS: Tax Withholding Estimator
- IRS: Tax Tip 2026-36, check withholding now
- IRS: Tax Tip 2026-52, mid-year is the perfect time for a quick tax check
- IRS: Working Families Tax Cuts (new and expiring provisions)
- IRS: Tax inflation adjustments for tax year 2026 (IR-2025-103)
- IRS: 401(k) limit increases to $24,500 for 2026, IRA limit increases to $7,500 (IR-2025-111)
- IRS: Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans
- IRS: 2026 Form 1040-ES, Estimated Tax for Individuals
General information only — not tax, legal or financial advice. Tax figures change every year; verify the current numbers at IRS.gov or with a qualified professional. Read the full disclaimer.