Mark Your Calendars: Essential 2025 Tax Dates to Keep in Mind

As the new year approaches, it's crucial to stay on top of important tax dates to ensure compliance and avoid any potential penalties. In this article, we'll outline the key 2025 tax dates, as reported by Bloomberg Tax, to help you plan and prepare for the upcoming tax season.

Individual Tax Dates

January 15, 2025: Fourth quarter estimated tax payment due for individuals April 15, 2025: Individual tax returns (Form 1040) due for tax year 2024 June 17, 2025: Second quarter estimated tax payment due for individuals September 16, 2025: Third quarter estimated tax payment due for individuals October 15, 2025: Extended individual tax returns (Form 1040) due for tax year 2024

Business Tax Dates

January 31, 2025: W-2 and 1099 forms due to employees and contractors February 28, 2025: W-2 and 1099 forms due to the IRS March 15, 2025: Partnership tax returns (Form 1065) due for tax year 2024 April 15, 2025: Corporate tax returns (Form 1120) due for tax year 2024 September 16, 2025: Extended corporate tax returns (Form 1120) due for tax year 2024

Other Important Tax Dates

January 1, 2025: New tax laws and regulations take effect April 1, 2025: First quarter estimated tax payment due for individuals and businesses July 31, 2025: Second quarter payroll tax reports (Form 941) due October 31, 2025: Third quarter payroll tax reports (Form 941) due

What to Expect in 2025

The 2025 tax season is expected to bring several changes and updates, including: Increased standard deductions and tax brackets New tax credits and deductions for individuals and businesses Enhanced security measures to prevent tax-related identity theft Improved online services and e-filing options for taxpayers Staying on top of important tax dates is crucial to ensure compliance and avoid penalties. By marking your calendars with the essential 2025 tax dates outlined above, you'll be well-prepared for the upcoming tax season. Remember to consult with a tax professional or financial advisor to ensure you're taking advantage of all the tax credits and deductions available to you. Stay informed, stay compliant, and make the most of the 2025 tax season.

Source: Bloomberg Tax

Disclaimer: This article is for general information purposes only and should not be considered as tax advice. Please consult with a tax professional or financial advisor for specific guidance on your individual or business tax situation.

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