When Can You File Taxes This Year? Key Dates and Deadlines Explained
Discover essential tax filing dates and deadlines for this year, including e-filing, paper submissions, and extensions. Stay informed and plan ahead.
Discover essential tax filing dates and deadlines for this year, including e-filing, paper submissions, and extensions. Stay informed and plan ahead.
Tax season is a critical time for individuals and businesses, requiring preparation of financial records, understanding of deductions, and meeting deadlines to avoid penalties. Being aware of filing dates can significantly impact refunds or liabilities.
The e-filing period begins the tax filing season, allowing taxpayers to submit returns electronically. For the 2025 tax year, e-filing opens on January 22. This method facilitates faster refunds for early filers and is promoted by the IRS for its efficiency and accuracy, minimizing errors compared to paper submissions.
E-filing ensures quicker processing, with most returns handled within 21 days if no issues arise. It also provides confirmation of receipt, offering peace of mind that the return has been successfully submitted. Taxpayers can rely on various software programs and online platforms to navigate the process and comply with updated tax regulations.
For those who prefer traditional methods, the IRS also begins accepting paper returns on January 22 for the 2025 tax year. However, paper filing typically involves longer processing times, which can delay refunds. Accuracy is critical, as mistakes can further extend the timeline. Taxpayers should carefully review entries, calculations, and ensure all required forms are included.
A notable advantage of paper filing is the ability to attach physical documentation, such as receipts and forms, which can be helpful for complex tax situations. To ensure the IRS receives the return, taxpayers are advised to use certified mail.
Amended returns are used to correct errors or omissions in original filings. For the 2025 tax year, taxpayers can submit amendments once their original return has been processed. Using Form 1040-X, amended returns can be filed electronically for tax years 2019 and onward.
Taxpayers have three years from the original filing date or two years from the date of paying any owed taxes to file an amendment. While filing an amended return does not automatically trigger an audit, it may invite closer review. Ensuring all supporting documentation is accurate is essential, and consulting a tax professional is recommended.
Requesting an extension provides up to six additional months to file, moving the deadline from April 15 to October 15 for the 2025 tax year. However, extensions only apply to filing; taxes owed must still be paid by the original April deadline. Taxpayers should estimate their liability and submit payment on time to avoid interest and penalties. The IRS imposes a late payment penalty of 0.5% of unpaid taxes per month, up to a maximum of 25%. Accurate calculations and timely payments are essential to avoid extra costs.