Tax Season Kickoff

In the spirits of the NFL playoffs and the college football national championship tonight, we are “kicking off” tax season with some helpful information for our clients and all taxpayers out there who want to be prepared. 

Preparation and a proactive mindset will save you money! Whether in the form of tax savings or eliminating the stress on you and your business that stems from scrambling to get everything together last-minute, a proactive mindset is very valuable. 

“By failing to prepare, you are preparing to fail.” - A quote that I always attributed to Bill Belichick, that actually should be credited to Ben Franklin.  

Important Dates for 2025

JANUARY - 

January 15 - Estimated Tax Payment for 2024 Q4 Due

January 27 - IRS has announced that this is the start of tax filing season (this is the earliest you can file your return).

January 31 - Federal Payroll Tax Returns Due (Form 941, Form 940, W-2 Forms, and 1099-NEC Forms)

FEBRUARY - 

February 28 - All other types of 1099 forms due (if paper filed).

MARCH - 

March 15 - Partnerships (Form 1065) and S Corporations (Form 1120S) Tax Returns Due

March 31 - All other types of 1099 forms due (if e-filed).

APRIL - 

April 15 - Individual (1040) and C Corporations (1120) Tax Returns Due

April 15 - Last day to make IRA Contributions for 2024

April 15 - Estimated Tax Payment for 2025 Q1 Due

April 30 - 2025 Q1 Federal Form 941 Due 

MAY - 

May 15 - Nonprofit (990) Tax Return Due

JUNE - 

June 16 - Estimated Tax Payment for 2025 Q2 Due

JULY - 

July 31 - 2025 Q2 Federal Form 941 Due

SEPTEMBER - 

September 15 - Estimated Tax Payment for 2025 Q3 Due

September 15 - Extended Deadline for Partnerships and S Corporations

OCTOBER - 

October 15 - Extended Deadline for Individuals and C Corporations

October 31 - 2025 Q3 Federal Form 941 Due

DECEMBER - 

December 31 - Deadline for individuals who are required to take Required Minimum Distributions for 2025

Important Reminder About Extending Your Tax Return

An extension is only for time to file and your payment is still due on the original due date. 

Extending your tax return is not some advanced time value of money strategy, and really should only be done when you are missing information required to complete your filing. 

The earlier you complete your tax return, the more time you will have to consider tax savings strategies and start planning for the current year.

Common Taxpayer Resources

To help you get your tax questions answered faster, we’ve compiled a list of Taxpayer Resources from the IRS website for quick reference. 

Where’s My Refund?

To find the status of your refund, be sure to have your social security number, filing status, and your exact refund amount. Then go to https://www.irs.gov/refunds and click “Check My Refund Status” for an update on the processing status of your refund.

How to Pay My Taxes?

To pay your taxes, we recommend letting your CPA (or online tax service) use your banking information to electronically pay your taxes along with your e-filing. For any quarterly estimates or other taxes you need to pay, you can use IRS Direct Pay and click the button “Make A Payment.” Be sure you have the type of payment you’re making (estimated tax, balance due, tax assessment, etc.), tax year, filing status, personal information (name, address, social security number, date of birth), and bank account information.

Once you make a payment, the IRS will give you a receipt with a confirmation number, which you should save for your tax records. You can also use the IRS Direct Pay link to find a past payment you made by clicking the button “Look Up Payment” and entering the confirmation number (from your IRS payment receipt) and your social security number. 

Lastly, if you do not have the cash to pay your taxes, you can find information on a payment arrangement here: IRS Payment Plan

Call The IRS

While this is definitely the most frustrating option for getting tax answers due to long wait times, sometimes it is the only way to truly put an issue to rest. Unless you & your CPA have signed & filed Form 2848 “Power of Attorney and Declaration of Representative” they will not be able to call the IRS for you. The following is a list of common phone numbers for your potential questions: 

Individual - (800) 829-1040

Businesses - (800) 829-4933

Non-Profit - (877) 829-5500

Be ready to verify your identity when you get ahold of an agent by having your taxpayer identification number (SSN/EIN), date of birth, filing status, and any correspondence sent to you by the IRS or the tax return that you are calling about. 

General Current Information

For general tax season updates and information specific to the current tax season, you can go to the Special Filing Season Alerts page and see if your topic has been addressed.