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2025 Important Tax Dates
2025 is officially in full swing! Here’s some information about Key tax dates and deadlines:
The dates that apply to you and your business depends on the kind of return that you need to file. Please know- we at PFS have a team ready to help you with all your personal and business tax matters.
Personal Income Tax (Form 1040) Returns
In 2025, the filing date for this will be Monday, April 15th. This doesn’t mean you have to wait until this date though. As soon as you have all your tax documents gathered together, we can fill and file Form 1040 for you. The earliest you can file is January 29th (as this is when the IRS will accept e-file returns).
If you are not ready by April 15th, no problem! We can file Form 4868 to extend the filing due date until October 15th. Just remember that an extension doesn’t change the due date of any tax liability. The IRS still expects taxpayers to pay their liability on time, the extension form just allows more time to complete the paperwork.
Important Notes for Personal Income Tax Returns
If you need more information about what paperwork and/or information you will need to file Form 1040, please download our checklist here: Paperwork for Filing Individual Tax Returns.
One important thing to note- if you want any contributions to your 401(k) to count as a deduction for your 2024 return year, you must make that contribution no later than April 15th. (If you make contributions automatically through your employer, usually the contribution is done when the end of the calendar year passes. Always double check so you’re knowledgeable about where your money is going).
Business Income Tax Returns (Forms 1065, 1120S, 1120, or 940)
If you own a business, your filing date will depend on what kind of business you own. Staying aware of key tax dates and deadlines is essential to ensure timely filing:
Partnerships (P) and S-Corporations (SC): You need to file by Friday, March 15th with Form 1065 (P) or 1120S (SC). Or we can extend the due date until September 16th.
C-Corporations: You need to file by the 15th day of the 4th month after the close of your company’s tax year, with From 1120. (Unless your tax year ends anytime in June, then you must file by the 15th day of the 3rd month.) Or we can extend the due date file for up to 6 additional months after your original filing due date.
Exempt Organizations: File by May 15th or the 15th day of the 5th month of taxable year with Form 990. You can extend until November 15th.
As with the personal returns, businesses are allowed to extend their return filing date by filing Form 7004 ( except Exempt Org.’s who use Form 8868 to extend) by your original tax due date. Again- remember that the extension doesn’t change the due date of any tax liability. You are still expected to pay your liability on time, you just have more time to finish paperwork.
Important Notes for Business Income Tax Returns
If you need more information about paperwork and/or information for business return filing, please download our checklist here: Paperwork for Filing Business Tax Returns.
But as a quick mention, employees need to be given their W-2 Forms and sub-contractors, their 1099-NEC Form by January 31st. It would be wise to work on preparing these at the beginning of January and ensure you have these handed out as soon as possible.
Important Notes for Self-Employed
A self-employed person (or one who earns at least a portion of their income independently) may be required to pay estimated/quarterly tax payments throughout the year. The last due date for 2023 is January 16th. Be sure to use Form 1040-ES and pay all the estimated tax payments on time to avoid penalties/fees. If you have any questions about setting these up, please don’t hesitate to call us.
In conclusion,
The best way to avoid stress or filing late is to be prepared and take small steps throughout the year to be ready to file. No need to procrastinate- find one thing you can do today!
You can download a calendar with all the important tax dates here.
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Disclaimer: This article is intended to provide general information to the public and does not provide personalized tax, investment, legal, or business advice. We encourage you to seek the assistance of a professional for advice on taxes, investments, and any other financial, legal, or business matters pertinent to your individual situation.