End of Tax Season 2025 and IRS Tax Filing Deadline

As the filing deadline for tax return year 2024-2025 is the final one of tax season 2025, taxpayers living across the United States must prepare to file their income tax returns. With the tax due date set for April 15th, for most filers, now is a good time to combine all the needed tax documents and discover possible tax credits. Whether you will be filing your taxes or relying on tax preparers, you will definitely have to submit your federal and state returns and do it on time, which is of utmost importance. Though an extension does not apply to everyone, requesting one to avoid penalties is a good idea for those needing one. This guide will highlight taxes due in 2025, tackle the process smoothly, and provide advice about tax filing. Also, you should appreciate tax accountants and CPAs with thoughtful gifts and funny quotes.

What is a Tax Year?

A tax year is the twelve-month calendar year a tax return covers. In the United States, individuals’ tax years extend from January 1 to December 31, and they include taxes owing on earnings during that time period.

For example, taxes withheld or owing on earnings during 2024 would be included on most taxpayers’ 2025 tax returns to the Internal Revenue Service (IRS). Individuals must file their federal income taxes by April 15, 2025.

How the Tax Year Works

A tax year is an accounting period for record-keeping, income and expense reporting, and tax payment or withholding.

People who work pay taxes all year round. Early the next year, generally before April 15, they submit their salaries to the Internal Revenue Service (IRS) and either pay any gap in taxes owed or request a refund for taxes overpaid.

Self-employed individuals and small company owners typically file quarterly to record their income and pay a rough estimated tax owed for the quarter. They also file annual documentation to reconcile their accounts, pay the difference, or seek reimbursement.

Types of Tax Years

If a person has not kept any records, has no accounting period, does not utilize a fiscal year, or is subject to any tax regulation under the Internal Tax Code, they must typically use a calendar year.

A tax year that coincides with the calendar year is defined as the twelve months starting on January 1 and ending on December 31.

Businesses may file their taxes using the fiscal year (FY) or the calendar year. However, once a tax year is established, it cannot be changed without the IRS’s approval, so the company has to stick with it. It adopts a fiscal year when it shifts to a tax year other than the calendar year.
A fiscal year is twelve months in a row and finishes on any day other than December 31.

Short Tax Years

An accounting or calendar year under twelve months is a short tax year. Short tax years arise when a firm is established or its financial period changes.
A short tax year can also arise if a firm wishes to modify its taxable year, requiring IRS permission after filing Form 1128. In this situation, the short tax period begins on the first day after the conclusion of the previous tax year and ends on the day before the start of the new tax year.

Self-employed individuals and small company owners typically file quarterly to record their income and pay an estimate of the taxes owed for the quarter. They also file annual documentation to reconcile their accounts, pay the difference, or seek reimbursement.

State Tax Years

While each state manages its taxes separately from the federal government, most have income taxes and require filing by April 15th. Virginia is the exception, with a reporting date of May 1.

There are some states without income taxes. New Hampshire does not have a sales or wage income tax, but it does tax interest and dividends over a certain amount. All property owners in New Hampshire pay their property taxes from April 1 to March 31 each year.

When is the deadline to submit taxes in 2025?

Individuals and small companies must file federal taxes by April 15, 2025. This is the deadline to file a tax return or request an extension and to pay taxes on income generated in 2024. 

Extensions allow taxpayers up to six months to file their taxes. However, the extension does not apply to payments. The failure-to-file penalty is 5% per month (up to 25% of unpaid taxes). The failure-to-pay penalty is 0.5% per month (up to 25%). The combined maximum penalty is 47.5%, but this applies in specific cases.

If you are entitled to a refund, you will not be penalized, but if you fail to submit a tax return within three years of the initial deadline, you may forfeit your refund. (While the IRS recently canceled these fines for many 2020 and 2021 taxpayers, this was a one-time occurrence and should not be expected in subsequent tax years.) 

If you cannot pay your tax debt in full by the deadline, apply for a payment plan on the IRS website and make modest monthly installments.

Celebrate the End of Tax Season with SwagMagic!

Swag Kits for Tax Professionals

Celebrate the hard work of tax professionals with customized swag kits, featuring branded office essentials, personalized notebooks, stress-relief items, and premium snacks. A well-thought-out swag kit serves as a token of appreciation for their dedication during tax season and provides useful items they can enjoy year-round.

Company Store

Create an online company store where employees and clients can choose from a selection of branded merchandise, office accessories, and personalized gifts. A dedicated store allows tax professionals to pick rewards that best suit their tastes and needs while promoting brand identity seamlessly and efficiently. It’s a convenient way to offer recognition and appreciation with style!

Personalized Gifts for CPAs and Accountants

A personalized gift, such as an engraved pen, a custom coffee mug with an inspiring quote, or a high-quality leather notebook, makes for a meaningful and professional way to recognize accountants and CPAs. These gifts not only show gratitude but also create lasting impressions that foster strong professional relationships.

Gift Cards for Relaxation

After the stressful tax season, tax professionals deserve some relaxation. Gift cards for popular restaurants, wellness services, or online retailers make a thoughtful reward. Whether it’s a spa day, a gourmet meal, or an e-commerce shopping spree, these gift cards allow them to unwind and enjoy some well-earned downtime.

Snack Boxes to Reenergize Your Team

Keep spirits high by sending out gourmet snack boxes filled with healthy treats, sweets, and coffee blends. These thoughtfully curated snack kits not only provide a delicious break but also boost productivity and well-being, making them the perfect post-tax season gift for hardworking teams.

After all is done, celebrate the end of tax season with these fantastic ideas and show appreciation for the professionals who made it through another year of filings, forms, and finances!

When do I receive my tax refund?

Most tax refunds are issued within 21 days of a tax return being submitted—at least for those filed online. However, if you claim the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC), your 0986refund may be delayed until mid-February due to fraud prevention checks. However, complications emerge, and the process may be significantly longer if your return lacks information or the IRS system flags it for fraud.  Refunds are often processed more quickly if you file electronically and select direct deposit rather than paper checks.

After filing, you may check the status of your refund at the IRS website. You must enter your Social Security number, Individual Taxpayer Identification Number, filing status, and the refund amount to the nearest dollar, as stated on your tax return.

If the IRS needs to contact you regarding your return or refund, you will get a printed notification in the mail, not an email, phone call, or text message. Scams are rampant throughout tax season, so be alert and report any questionable behavior to the IRS.

Important 2025 Tax Due Dates

When is the deadline for a tax extension?

The deadline for filing a tax extension is April 15, 2025. You still need to submit an anticipated payment on April 15, and then you will have until October 15, 2025, to file your return. The IRS states that “you do not receive any extension of time to pay your taxes” when you file your return later than expected. 

To obtain an extension, complete IRS Form 4868 online or on paper. You can pay the amount you owe in part or full and specify that it is for an extension. The method for getting a tax extension varies by state. Many states, including California and Illinois, automatically extend the deadline for filing state taxes by six months. 

The Importance of Timely Tax Collection and Reporting

Taxes are necessary to support federal services that benefit everyone. As a result, it is critical to guarantee that all taxes for a given quarter are recorded and paid by a certain deadline so that government budgets may be developed and services supported.

Tax years enable governments to coordinate the reporting and collection of taxes, which is a huge effort in contemporary times—in the United States in 2024, $2.18 trillion in individual taxes were collected, $1.61 trillion in payroll taxes were collected, and $420 billion in corporation taxes were collected. After all is done, celebrate the end of tax season with great party ideas.