Tax deadlines can sneak up on you, and missing one might cost you in penalties and interest. Stay ahead of the curve with this guide to the critical tax deadlines for individuals and businesses in 2025.
Key Tax Deadlines for 2025
- January 15: Final estimated tax payment for the 2024 tax year is due.
- April 15: Individual income tax returns (Form 1040) are due. This is also the deadline to file an extension.
- March 15: S corporations and partnerships must file their 2024 tax returns or request an extension.
- June 15 and September 15: Second and third estimated tax payments for 2025 are due.
- October 15: Final deadline for extended individual tax returns.
Changes to Filing for 2025
- Digital Payment Reporting: If you received over $600 through apps like Venmo or PayPal, you’ll receive a Form 1099-K, which must be reported as income.
- Standard Deduction Increase: The IRS has adjusted the standard deduction for inflation, which may affect your filing strategy.
- Energy Tax Credits Expanded: New rules allow more households to claim credits for energy-efficient home improvements.
Tips for Staying Organized
- Create a Tax Calendar: Set reminders for each deadline.
- Work with a Tax Professional: They can ensure you don’t overlook critical dates or filing requirements.
- Review Your Withholding: Update your W-4 if necessary to avoid surprises at year-end.
Missing deadlines cost money and can lead to stress. Stay informed and organized to make 2025 your smoothest tax season yet.
