2025 Tax Season Reminders + Deadlines
Spring is here with its fresh starts and tax deadlines!
We’re also in a new season of uncertainty with the Trump administration bringing radical changes in tax policy, regulations, and reducing the knowledgeable civil servants who do all this work for us. While it’s still too early to know the impact, please know we’re keeping a close watch on markets. Our focus remains the same: helping our clients and community move forward with confidence, clarity, and kindness.
Tax season runs on deadlines! To help you stay ahead, we’ve gathered a few important reminders and deadlines:
March 15th: Send info to your accountant to file on time.
All the docs: Given the complexity of returns due to recent legislative changes, many tax preparers request that you submit all necessary documents by March 15th or plan to file an extension.
Tax Filing & Extensions: If you just need more time, ask your preparer to file an extension until October 15th and calculate any tax you need to pay.
April 15th: Final Contribution Window for 2024
IRA & Roth IRA Contributions: If you’re eligible, go get those tax benefits!
HSA Contributions: If you have an HSA, remember to invest that cash and try to avoid spending it until retirement!
April 15th: Pay what you owe and make a plan to file
Pay any 2024 tax due: Interest rates are up on overdue taxes, so make sure you’ve paid by April 15th, even if you’re filing an extension.
Quarterly Estimated Tax Payments: If you pay estimated taxes, the 2025 Q1 payment is due on April 15th.
Pay ALL Your Taxes Online - due to understaffing, DOGE, and tech issues we recommend paying your federal, state, and local taxes online to ensure smoother processing - we don’t want checks getting lost on our watch! Ask your tax preparer to provide the best links to pay electronically.
Important NOW and Always: Charitable Giving & Donor-Advised Funds
We know many of you prioritize giving back, and while the deadline for most tax-deductible donations isn’t until December 31st, now is an especially important time to give. With the new administration shifting federal funding priorities, many nonprofits and essential service organizations are facing uncertain futures.
If you have funds set aside in a donor-advised fund or have been thinking about making a charitable contribution, putting those dollars to work sooner rather than later could make a big difference.
And if you’re already taking RMDs, a Qualified Charitable Distribution (QCD) from your retirement account remains a tax-efficient way to give. If we’ve already discussed this in your Tax Planning meeting, the only thing we need from you is a list of charitable organizations where you’d like to send the funds!
If you missed our latest market commentary, you can catch up on most recent updates here.
Tax season can be stressful, but you’re not in this alone. We recommend sending some kind vibes to the good folks at the IRS!
