2025 Tax Season Reminder: Key Deadlines & Tips!
As we approach tax season, here are some important reminders to help you stay on track and avoid unnecessary penalties:
Tax Filing Deadline – Most individuals must file their federal income tax return by Tuesday, April 15, 2025. However, if you’re in a designated disaster area, the IRS may grant you extra time. Check the IRS website for details.
-Need More Time? – You can file for an extension using IRS Form 4868 to push your filing deadline to October 15, 2025. But keep in mind—an extension to file is NOT an extension to pay. You’ll still need to estimate and pay your taxes by April 15 to avoid penalties and interest.
-Owe Taxes? File Anyway! – Even if you can’t pay in full, file your return and pay as much as possible to reduce penalties. The IRS offers installment agreements and other options if you need help with payments.
-Expecting a Refund? – File as soon as possible! The IRS typically issues refunds within 21 days if you e-file and opt for direct deposit. To avoid delays, avoid filing a paper return.
-IRA Contribution Deadline – You can still contribute to your IRA for the 2024 tax year until April 15, 2025 (unless granted additional time due to disaster relief).
For informational purposes only. Not financial, legal, or tax advice. Full disclosures: Thrivent.com/disclosures
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