As we move into a new financial year, it’s crucial for individuals and businesses to stay informed of key tax deadlines. Filing your taxes on time not only ensures compliance but also helps avoid penalties, interest, and missed financial opportunities.Individual Tax Filing Deadline:Tuesday, April 15, 2025
This is the official due date for filing Form 1040, the individual income tax return. If you are not ready to file by this date, you can request a six-month extension — however, any taxes owed must still be paid by April 15 to avoid interest and penalties.Extension Deadline (Individuals):Wednesday, October 15, 2025
By filing Form 4868, taxpayers can extend their filing deadline to October 15. This extension applies only to submitting the return, not to payment. Taxes owed must still be paid by April 15 to avoid penalties.Business Tax Deadlines:Partnerships & S Corporations (Forms 1065 & 1120-S)
- Original Due Date: Monday, March 17, 2025
- Extended Deadline: Monday, September 15, 2025 Note: March 15 falls on a Saturday in 2025.
- Original Due Date: Tuesday, April 15, 2025
- Extended Deadline: Wednesday, October 15, 2025
Estimated Quarterly Tax Payments:
Self-employed individuals, freelancers, and others who don’t have taxes withheld must make estimated tax payments throughout the year.2025 Quarterly Payment Deadlines:
- Q1: April 15, 2025
- Q2: June 16, 2025 (June 15 is a Sunday)
- Q3: April 15, 2025
- Q4: January 15, 2026
The Importance of Staying Compliant:
Failing to meet tax deadlines can result in:
- Late filing and late payment penalties
- Accruing interest on unpaid taxes
- Missed refunds and tax credits
- Increased risk of IRS scrutiny
Proactive planning and accurate recordkeeping are essential to smooth tax filing. We recommend reviewing your finances quarterly and working with a tax professional to stay on track.Need Help Filing?
Our firm offers expert tax preparation, advisory, and planning services tailored to individuals and businesses. Whether you’re filing your return, making estimated payments, or requesting an extension, we’re here to guide you every step of the way.Get in touch with us today to ensure your tax filings are timely, compliant, and optimized.
