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Critical Dates for Income Tax Filers in 2025

Writer's picture: Jim RichterJim Richter

With the tax season rapidly approaching, we put together a list of important dates to help you stay on top of deadlines. Here are the critical federal tax deadlines for the 2025 tax season:


  • January 27th: The IRS begins accepting 2024 tax returns.


  • February 17th – 1099-B Issuance: This is the deadline for financial institutions to send out Form 1099-B to anyone with a taxable trading account with gains or losses in the account. This should include any gains or losses on cryptocurrency activity.


  • March 1st - Schedule F: This is the deadline for individuals to file and pay the balance due on farm income without penalty if farm income is two-thirds of total income.


  • March 15th - Monotelo’s Document Cut-off Date for April 15th Filings: Please upload all tax documents to your PORTAL or have your documents to us by March 15th to ensure your return gets filed by April 15th. If you wait to get your documents to us, we will do our best to get your return filed, but we cannot put you in front of clients who uploaded their documents earlier. Click here for a list of TAX DOCUMENTS needed.


  • April 15th: Deadline to file federal individual income tax returns (Form 1040) for the 2024 tax year. If you cannot file by this date, we can request an automatic six-month extension.  However, an extension to file is not an extension to pay; any taxes owed are still due by April 15 to avoid penalties and interest.


  • October 15th: Extended deadline to file federal individual income tax returns for those who requested an extension by April 15. Remember, this is only an extension to file; taxes owed were due by April 15.


For estimated tax payments in 2025:


  • April 15th: Deadline for the first-quarter estimated tax payment for the 2025 tax year.


  • June 16th: Deadline for the second-quarter estimated tax payment for the 2025 tax year.


  • September 15th: Deadline for the third-quarter estimated tax payment for the 2025 tax year.


  • January 15th: (2025) Deadline for the fourth-quarter estimated tax payment for the 2025 tax year.


Additionally, certain taxpayers affected by natural disasters may have extended deadlines. For example, victims of the Los Angeles County wildfires have until October 15, 2025, to file their federal tax returns.


Please note that these dates are general guidelines, and specific circumstances may apply to your individual or business situation. If you have any questions or are ready to get started on your 2024 tax return, click here to UPLOAD YOUR DOCUMENTS or SCHEDULE A MEETING at your convenience.



This article is a general communication being provided for informational and educational purposes only and is not meant to be taken as tax advice, investment advice or a recommendation for any specific investment product or strategy. The information contained herein does not take your financial situation, investment objective or risk tolerance into consideration. Readers, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal, accounting or tax advice from their own counsel. Any examples are hypothetical and for illustration purposes only. All investments involve risk and can lose value, the market value and income from investments may fluctuate in amounts greater than the market. All information discussed herein is current only as of the date of publication and is subject to change at any time without notice. Forecasts may not be realized due to a multitude of factors, including but not limited to, changes in economic conditions, corporate profitability, geopolitical conditions, inflation or US tax policy. This material has been obtained from sources believed to be reliable, but its accuracy, completeness and interpretation cannot be guaranteed.


LEGAL, INVESTMENT, AND TAX NOTICE. This information is not intended to be and should not be treated as legal, investment, accounting or tax advice.

PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.

 

Copyright 2024. Monotelo Advisors Inc. All Rights Reserved

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