Life moves quickly. It’s easy to get distracted. But that can be costly.
Miss an important financial date or deadline, and you could be on the hook for a penalty or lose out on a limited-time opportunity to save money.
Enter our “Money Calendar” series.
In this edition, we’ve rounded up the noteworthy money dates in January 2026. Take a look and mark your calendar with any dates that apply to you. And if you enjoy this series, sign up for the Money Talks Newsletter so you don’t miss the next edition. Look for it on the last weekday of the month.
New Year’s Day — Jan. 1
This is a federal holiday, so expect some businesses — including banks — to be closed.
IRS standard mileage rate changes — Jan. 1
The IRS has increased the standard mileage rate deduction for miles driven for qualifying business purposes in 2026. The new rate is 72.5 cents per mile, up from 70 cents.
Many health insurance plans take effect — Jan. 1
If you recently enrolled in a new 2026 health insurance plan, or re-enrolled in the plan you had for 2025, your coverage likely starts Jan. 1.
For example, this is the case for Medicare plans that seniors purchased anew or re-enrolled in during the latest fall open enrollment period.
It’s also the case for Affordable Care Act (ACA) plans purchased from Nov. 1 to Dec. 15. (ACA plans purchased from Dec. 16 to Jan. 15 will take effect Feb. 1.)
If your health insurance plan takes effect on Jan. 1, make sure you put your new insurance card in your wallet.
Medicare Advantage open enrollment period begins — Jan. 1
As if Medicare isn’t complicated enough, this federal health insurance program for folks age 65 and older and folks with certain disabilities or conditions has multiple annual enrollment periods.
The main open enrollment period is in the fall, while the Medicare Advantage open enrollment period runs from Jan. 1 through March 31.
Medicare Advantage plans, one of the two main types of Medicare, are offered by private insurance companies that are approved by the federal Medicare program. (The other type of Medicare, Original Medicare, is the traditional government-managed health care coverage.)
During the Medicare Advantage open enrollment period, folks with Medicare Advantage plans (with or without prescription drug coverage) have the option to:
- Switch to a different Medicare Advantage plan (with or without drug coverage).
- Switch from Medicare Advantage back to Original Medicare (with or without also enrolling in a drug plan)
Medicare’s general enrollment period begins — Jan. 1
Here comes yet another Medicare enrollment window, which also runs from Jan. 1 through March 31.
Known as the general enrollment period, it is for folks who missed their initial enrollment period and don’t qualify for a special enrollment period.
Social Security payments increase — starting Jan. 2
The federal government announced a 2.8% cost-of-living adjustment (COLA) in October. Social Security recipients will start seeing this increase reflected in their monthly payments in January.
The earliest date on which someone would receive their first 2026 payment is Jan. 2, but many folks won’t receive theirs until later in the month. For more details, see “Here’s the Social Security Payment Schedule for 2026.”
Other Social Security changes take effect — Jan. 1
The COLA isn’t the only aspect of Social Security that changes in the new year. Others include the earnings limit for working retirees as well as the cap on the Social Security payroll tax for all workers. To learn more, check out “8 Ways the Social Security System Will Change in 2026 (Affecting Virtually All Americans).”
Deadline for estimated tax payments — Jan. 15
This is the deadline for the fourth quarterly installment of estimated taxes for the 2025 tax year — the one for which your tax return is due by April 2026. This deadline applies to the self-employed and other workers who earn income that isn’t subject to withholding, who use IRS Form 1040-ES to pay this tax.
There is one exception, though: Self-employed people who file their 2025 federal tax return by Jan. 31, 2026, and pay their entire balance due with their return do not have to pay their fourth installment by Jan. 15.
Martin Luther King Jr. Day — Jan. 19
The observance of the birthday of Martin Luther King Jr. — which falls on the third Monday in January — is also a federal holiday. So, expect institutions like banks to be closed this day.
Federal Reserve vote — Jan. 28
The Federal Reserve’s Federal Open Market Committee (FOMC) generally meets eight times a year. On the second day of these two-day meetings, the committee votes on whether to change its target range for the federal funds rate.
Any change to the federal funds rate can affect everything from your savings account yield to your credit card interest. To learn more about what this means for you, check out “What Is ‘the Fed’ — and Why Should You Care?”
Deadline for 2025 income forms to workers — Jan. 31
Generally, Jan. 31 is the deadline for employers and other types of payers to give workers several types of income forms for the recently concluded tax year. These forms can include:
- Form 1099-NEC, Nonemployee Compensation
- Form W-2, Wage and Tax Statement
If you expect to receive any of these forms for 2025, but none have arrived yet, keep an eye out for the forms in February. You don’t want to file your federal income tax return until you have such forms in hand.
Employers must send copies of these income forms to the IRS, which cross-checks the income numbers that you report on your return against the numbers on your income forms. If those numbers don’t match, the IRS could delay processing your return, and thus delay any tax refund you might be owed.
IRS Free File becomes available — mid-January (presumably)
Typically, IRS Free File becomes available for the upcoming tax season in mid-January. This program lets taxpayers who earn less than a specified amount prepare and file their tax returns for free using commercial tax software.
To learn more about IRS Free File or keep an eye on when it becomes available, visit the IRS’ Free File webpage.
Tax season starts — last week of January (presumably)
The IRS has yet to announce the official start date for the next federal income tax filing season, the one for 2025 returns, but it’s a safe bet that it will be in the last week of January.
Once the start date arrives, you and your tax professional or tax software will be able to submit your 2025 tax return to the IRS.
Social Security statements mailed — sometime in January
If you receive Social Security benefits, keep an eye out for your annual benefit statement, also known as an SSA-1099 (or an SSA-1042S, in the case of noncitizens who live abroad). The Social Security Administration mails these documents each January, as Social Security recipients need them to file their taxes. (Your benefit statement tells you how much Social Security income you received in the previous year, which you must report on your tax return.)
If you don’t receive your SSA-1099 in January, or if you want a digital version for your records, you typically can get a replacement copy via your online Social Security account starting in February.
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