5 Things You Need To Know for the 2025 Tax Season
Written by
Andrew Lisa
Edited by
Heather Taylor
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
The 2025 tax season is in full swing, and if you haven’t yet filed, there’s still time to make sure you get everything right before submitting your returns to the IRS — but the clock is ticking.
Here are the crucial dates, documents and deadlines you need to know to avoid mistakes, penalties, fees and unforced errors that could require you to file an amended return in the future.
Tax Day Is April 15
Tax Day is Tuesday, April 15, which had long been the traditional date unless it fell on a weekend or holiday. However, the deadline to file varied in the hectic, post-COVID era.
Tax Day is now back to its familiar spot on the mid-April calendar.
The IRS Grants 6-Month Extensions
If you can’t complete your returns by Tax Day, you can request an automatic extension with Form 4868. You’ll get a six-month reprieve through Oct. 15 — but only to submit your returns. If you owe a tax bill for 2024, you must pay or arrange a payment plan by April 15.
You Should Receive All Income Statements by Early February
The IRS requires employers to submit all W-2 and other wage statements by Jan. 31. The same goes for all 1099-NEC forms detailing compensation paid to non-employees. That means taxpayers should have all income statements for traditional employment, gigs and side hustles in the opening days of February at the latest.
The IRS requires all gig workers to report contract-based income of $400 or more.
Wages Are Only Part of the Equation: Make a Checklist
Those with the most basic returns don’t have much to report beyond W-2 wage income. However, for many others, tax season brings a flurry of documents and forms, including but not limited to: ‘
- Form 1099-DIV (dividends)
- Form 1099-INT (interest)
- Form 1099-R (retirement plans)
- Form SSA-1099 (Social Security benefits)
- Form 1098-T (tuition payments)
- Form 1098-E (interest paid on student loans)
- Form W-2G (gambling winnings)
- Form 1099-K (deposits and earnings)
- Form 1099-C (debt cancellation)
- Form 1099-B (stock sales)
- Form 1098-T (grants and scholarships)
TurboTax created a handy, printable tax-prep checklist to help taxpayers ensure they don’t file before a crucial document arrives, or omit anything they are required to report.
Tax Laws Are Always Changing — Stay Informed
Tax law is constantly evolving at the local, state and federal levels, and it’s crucial to stay current with the most recent developments — especially if you do your own taxes.
For example, the Tax Foundation reported that most of the country — 39 states — will experience “notable tax changes” in 2025. Also, Brookings reported that many key provisions of the 2017 Tax Cuts and Jobs Act will sunset at the end of 2025 without Congressional action. Although 2024 is in the books, now is the time to prepare for the many changes that could be coming to the tax code and how they might affect you.
Disclaimer: Unless otherwise noted, all information is from IRS.gov.
More From GOBankingRates
