IRS issues update to millions of Americans ahead of April 15 tax deadline — are you really ready for your refund?

Jing PanMon, March 9, 2026 at 9:33 PM UTC

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An American flag flies above the International Revenue Service headquarters building.

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With tax season in full swing, the Internal Revenue Service is rolling out a service change to help Americans file their returns.

On March 6, the IRS announced it is extending weekly office hours at more than 200 Taxpayer Assistance Centers (TACs) across the country, giving taxpayers additional time to receive in-person assistance during the filing season (1).

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The agency noted that calendar-year filers — the most common type in the U.S. — have until April 15 to submit their returns, but the extended weekly hours will remain available through April 30 (2). You can check whether a nearby center is offering extended hours using the IRS’s TAC Locator tool.

In addition, many TACs are now open on select Saturdays to provide in-person assistance. During these special Saturday hours, visitors can receive help with most services offered at TACs, except for making cash payments.

While many Americans file their taxes online, TACs still serve an important role. According to the IRS Data Book, the agency’s centers recorded more than 2 million contacts in fiscal year 2024 — increasing the in-person help provided to taxpayers by nearly 26% compared with the previous fiscal year (3).

The Trump administration has touted the potential for “very large refunds” this tax season due to changes tied to the “One Big Beautiful Bill,” which introduced provisions such as tax deductions for tips, overtime pay, car-loan interest and enhanced deductions for seniors.

And taxpayers are already taking advantage of those provisions. According to Frank Bisignano, the first CEO of the IRS, more than four in 10 of the roughly 55 million income-tax returns filed so far this season have claimed at least one of those new tax breaks (4).

That can make a noticeable difference: Bisignano said households that claim at least one of these deductions are receiving refunds that are $775 higher on average.

You can find the new IRS Schedule 1-A and its related instructions — which allow filers to claim these new deductions — here.

‘An obligation to pay as little tax as possible’

While the new deductions can ease the tax burden for wage and salary earners, wealthy households typically don’t rely on policy changes alone to lower their tax bills.

For decades, high-net-worth individuals have used proven strategies — and specific types of assets — to legally slash what they owe to the IRS. According to a report from ProPublica, some billionaires in the U.S. paid little or no income tax relative to the vast fortunes they’ve amassed (5).

That's largely because billionaires build their wealth through assets — not wages. As the value of these assets rises, their net worth grows, but the U.S. tax system isn’t designed to fully capture those gains. Capital gains are typically taxed at lower rates than regular income and taxes aren't owed until the assets are sold.

In fact, as NYU Stern professor Scott Galloway once put it, if you’re trying to build wealth, you have “an obligation to pay as little tax as possible” (6).

One asset class America’s wealthy have relied on for decades is real estate — in part because of the generous tax treatment it receives.

When you earn rental income from an investment property, you can claim deductions for a wide range of expenses, such as mortgage interest, property taxes, insurance and ongoing maintenance and repairs.

Real estate investors also benefit from depreciation — a tax deduction that recognizes the gradual wear and tear of a property over time. Investors can also use tools like refinancing and 1031 exchanges to keep their capital compounding instead of cashing out.

Today, you don’t need to be a millionaire — or even to buy a single property outright — to invest in real estate. Crowdfunding platforms like Arrived offer an easier way to get exposure to this income-generating asset class.

Backed by world-class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100 — all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants.

The process is simple: Browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you’d like to purchase and then sit back as you start receiving any positive rental income distributions from your investment.

Another option is Lightstone DIRECT, which offers accredited investors access to institutional-quality multifamily and industrial real estate — with a minimum investment of $100,000.

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Founded in 1986 by David Lichtenstein, Lightstone Group is one of the largest privately held real estate investment firms in the U.S., with more than $12 billion in assets under management.

Over nearly-four decades, their team has delivered strong, risk-adjusted performance across multiple market cycles — including a 27.6% historical net IRR and a 2.54x historical net equity multiple on realized investments since 2004.

With Lightstone DIRECT, you gain access to the same multifamily and industrial deals Lightstone pursues with its own capital.

Here’s the kicker: Lightstone invests at least 20% of its own capital in every deal — roughly four times the industry average. With skin in the game, the firm ensures its interests are directly aligned with those of its investors.

Read More: Turning 50 with $0 saved for retirement? Most people don’t realize they’re actually just entering their prime earning decade. Here are 6 ways to catch up fast

Keep more of what you earn

The wealthy don’t just focus on what they invest in — they also pay close attention to where those investments sit. Using tax-advantaged retirement accounts can be a powerful way to keep more capital compounding over time.

For instance, traditional IRAs and Roth IRAs allow investments to grow either tax-deferred or tax-free, depending on the account type.

While many retirement accounts primarily hold stocks and mutual funds, some investors choose to diversify further. Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, has repeatedly warned that many portfolios lack one key safe-haven asset: gold.

“People don't have, typically, an adequate amount of gold in their portfolio,” he told CNBC last year. “When bad times come, gold is a very effective diversifier.”

Long seen as the ultimate safe haven, gold isn’t tied to any single country, currency or economy. It can’t be created at will by central banks like fiat money and in times of economic turmoil, market turbulence or geopolitical uncertainty, investors tend to pile in — driving up its value.

Over the past 12 months, gold prices have surged by more than 70%.

One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Thor Metals.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.

To learn more, you can get a free information guide that includes details on how to get up to $20,000 in free metals on qualifying purchases.

Work with an expert

At the end of the day, everyone’s financial situation is different — from income levels and investment goals to debt obligations and risk tolerance. If you’re unsure where to start, now could be the right time to get in touch with a financial advisor.

With Vanguard, you can connect with a personal advisor who can help assess how you’re doing so far and make sure you've got the right portfolio to meet your goals on time.

Vanguard’s hybrid advisory system combines advice from professional advisers and automated portfolio management to make sure your investments are working to achieve your financial goals.

All you have to do is fill out a brief questionnaire about your financial goals and Vanguard’s advisers will help you set a tailored plan and stick to it.

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Article sources

We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.

IRS (1), (2), (3); Morningstar (4); ProPublica (5); Yahoo!Finance (6)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

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Source: “AOL Money”