Mark Your Calendar: Tax Filing Season 2025 Begins January 27th!
The Internal Revenue Service (IRS) has announced that the tax filing season for 2025 will officially begin on January 27th, 2025. This means that taxpayers will have until April 15th, 2025, to file their taxes.
Key Dates to Remember
- January 27th, 2025: Tax filing season officially begins.
- February 12th, 2025: Deadline to file Form 1099-MISC for nonemployee compensation.
- March 31st, 2025: Deadline to file Form 1099-NEC for nonemployee compensation.
- April 15th, 2025: Deadline to file individual income tax returns (Forms 1040, 1040-SR, 1040-NR).
The IRS urges taxpayers to file their taxes electronically, as this is the fastest and most accurate way to file. Taxpayers can file electronically through the IRS website or through a tax software program.
What’s New for Tax Year 2024?
There are a few changes for the 2024 tax year that taxpayers should be aware of:
- The standard deduction has increased for both single and married filers.
- The child tax credit has been increased to $2,000 per qualifying child.
- The earned income tax credit has been expanded to include more workers.
Taxpayers should consult with a tax professional to learn more about these changes and how they may affect their tax liability.
Getting Help with Your Taxes
The IRS offers a variety of resources to help taxpayers with their taxes. Taxpayers can get help online, by phone, or in person at an IRS office.
The IRS website has a wealth of information on taxes, including:
- Forms and instructions
- Publications and articles
- Interactive tax tools
Taxpayers can also call the IRS at 1-800-829-1040 for assistance. The IRS also has a network of Volunteer Income Tax Assistance (VITA) sites that offer free tax preparation help to low-income taxpayers.
Conclusion
Tax filing season can be a stressful time, but it doesn’t have to be. By planning ahead and taking advantage of the resources available to you, you can make the process as smooth and painless as possible.
Remember, the deadline to file your taxes is April 15th, 2025. Don’t wait until the last minute to file your taxes. File early and avoid any potential penalties or interest charges.
