May’s tax tips could help you avoid sending out a tax mayday call.
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The month of May is supposed to be merry. But if you didn’t meet the April 15 tax filing (and paying!) deadline, then things are bit more complicated.
In this late filing and/or paying situation, get your Form 1040 to the Internal Revenue Service as soon as possible. The links to January through April tax tips collections at the end of this page can help.
If, however, you got an extension (and paid any tax you owed when you filed that Form 4868), then take some time this month to enjoy the May flowers that bloomed after April’s showers.
Filing finally, then planning ahead: But don’t dawdle along the garden path too long.
The Oct. 15 due date for extended tax return filings can sneak up on you. So, it’s a good idea to at least get started on that delayed filing sooner rather than later.
You’ll also want to make some tax moves this month.
If you got or are still waiting for your tax refund, think about ways to use it.
And, of course, you want to take steps now to ensure your 2026 tax year bill, which has been accruing since Jan. 1, is the least legally possible amount due.
You’ll find some advice for these tax situations, and more, on this May page. Let’s get started now so that you don’t have to worry about sending out a tax mayday later.
- Don’t fall for fake IRS letter scam seeking tax-refund related bank data — The Internal Revenue Service has mailed more than 830,000 taxpayers a special Notice CP53E asking for their bank information so that tax their refunds can be directly deposited. But scammers also are sending out a fake CP53E letter, seeking people’s bank data for their own nefarious purposes. (May 3, 2026)
- Tax scam threats again top IRS focus during annual National Small Business Week — Individuals aren’t the only tax con targets. Owners of successful small businesses have to deal with a lot of challenges, and company-focused tax scams are a major threat. The latest schemes are again a focus during National Small Business Week 2026. (May 4, 2026)
- May tax moves that could make for merry savings — I hate to interrupt your May merry making (and Cinco de Mayo celebrations), but you might want to take a break and check out a few tax moves to make this month. They could help you save you some tax dollars. (May 5, 2026)
- Uncle Sam’s tax breaks for students, their parents and parents who are students — Uncle Sam has tax breaks for parents and students, including the growing number of new moms celebrating their first Mother’s Day this Sunday with higher education degrees and college costs to pay. (May 7, 2026)
- July 10 is deadline to file for COVID tax refunds — COVID was a major disruption in many parts of our lives, including taxes. Many Americans paid Internal Revenue Service penalties or interest during the 3½-year pandemic period. But a federal court ruling could let millions get back those improper charges, as long as they file by July 10. (May 10, 2026)
- Federal and state gas tax holidays sound good, but really wouldn’t help drivers that much — The president wants a federal gas tax holiday. So do some state leaders. But at either level, the move likely wouldn’t provide much gas pump price relief. And it could hurt other state and federal projects that drivers (and the rest of the electorate) support, as well as worsen governments’ overall fiscal status. (May 11, 2026)
- State and city taxes add a lot to rental car costs — Gas taxes are a top concern of drivers right now, prompting the White House to call for a federal gas tax holiday. But if you’re pumping the fuel into a rental vehicle, that’s just one of many added state and local taxes and fees added to each gallon of fuel. (May 13, 2026)
- Lower your property tax bill with appraisal appeals and exemptions — You and your local property appraiser probably have different views of your home. You can appeal a real estate appraisal you believe is incorrect. Doing so could help lower your residence’s ultimate property tax bill. (May 15, 2026)
- 7 financial gifts for graduates, some with tax benefits — It’s graduation season. If you’ve got some high school or college graduates in your life and you don’t know what to get them, don’t despair. Here are seven financial gifts, some with tax benefits that the recipients (and in some cases, you, too) will appreciate. (May 21, 2026)
- Memorial Day weekend is Energy Star sales tax holiday in Texas — Texans looking to upgrade appliances get some tax help. This long Memorial Day weekend also is the Lone Star State’s annual Energy Star sales tax holiday. It starts Saturday, May 23, and runs through Memorial Day Monday, May 25. (May 22, 2026)
- Brushing up on tax terms during the national Spelling Bee — The annual Scripps National Spelling Bee is underway. The competition’s official words come from the Merriam-Webster Unabridged Dictionary. But it you’re looking for some tax terms this week or beyond, you can check out the ol’ blog’s tax glossary. (May 26, 2026)
- Some IRS TACs will be open this Saturday, May 30 — The main tax filing season is over, but some people still need help with tax matters. Internal Revenue Service agents at Taxpayer Assistance Centers (TACs) might be able to help in certain situations. And some TAC doors will be open on special Saturdays, including this coming May 30. (May 27, 2026)
- Trump Accounts app available in advance of investments’ July 4 launch — Trump Accounts were designed to help young people get better returns on savings than the usual child’s piggy bank deposits. The tax-favored investment vehicle also now has its own app for easier access and management. (May 28, 2026)
- IRS bumps up HSA contribution limits for 2027 — Medical costs, including insurance premiums, keep increasing. A high-deductible policy and companion health savings account, or HSA, could be the perfect healthcare and tax Rx for some, especially with the recently-announced 2027 inflation adjustments. (May 31, 2026)…
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I can’t tell you how thrilled I am that you want more tax tips. But right now, we’re just entering the supposed-to-be-slower period following Tax Day and the frenetic filing season that led up to it. So, we’re taking a bit of break to catch our breath.
Rest assured, however, that once the calendar page flips to June 1, you won’t have send out a search party for tax tips. That page will start filling up with tax information to help you file your extended 2025 tax return, and/or make moves to save on this year’s taxes.
If you just can’t wait for more tax tips, you can check out the January through April pages by clicking on the text links below for the rest of this year. Those pages are live, in the sense that like this one, the links will open instead of going to my 404 page.
But those coming months’ tax tips pages don’t have any advice yet because, well, they are definitely not here. Instead, you’ll just find an enthusiastic fellow telling you to whoa up! (Image the Texas twang associated with that phrase. 😉)
Again, I appreciate your wanting more tax tips, and your patience on waiting for them to be posted. …
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