As the 2025 tax season begins, it’s important to stay organized and keep track of deadlines to ensure a smooth filing process.
Here’s everything you need to know about key dates, penalties, and tax extensions.
When Does the 2025 Tax Season Start?
The IRS started accepting and processing 2024 federal tax returns on Monday, January 27, 2025.
New for 2025
If you received more than $5,000 in payments for goods and services through online marketplaces or payment apps in 2024, expect to receive a Form 1099-K.
Important Tax Deadlines
Tax Day 2025
The deadline to file your federal tax return is Tuesday, April 15, 2025. Your return is considered on time if:
1) It is properly addressed, postmarked, and mailed by the deadline.
2) It is filed electronically before midnight in your time zone.
Filing electronically is faster and can help you receive your refund sooner.
Late Filing Penalties
If you miss the filing deadline, you may face penalties:
1) The failure-to-file penalty is 5% of unpaid taxes per month, up to 25% of the total unpaid amount.
2) The IRS also charges interest on unpaid taxes and penalties.
Deadline for IRA and HSA Contributions
April 15, 2025, is also the last day to make 2024 contributions to:
Individual Retirement Accounts (IRA)
Health Savings Accounts (HSA)
How to Request a Tax Extension
If you need more time to file, you can request an extension by April 15, 2025. This will give you until October 15, 2025, to file your return without penalties.
However, an extension does not delay your payment deadline—any taxes owed must still be paid by April 15 to avoid penalties and interest.
Ways to Request an Extension
Pay Online – Make an IRS payment online and select the option for an extension. You’ll receive a confirmation number.
Use Free File – The IRS Free File program lets you electronically request an automatic extension at no cost.
Mail Form 4868 – Submit Form 4868 (Application for Automatic Extension of Time to File) by mail or through an IRS e-filing partner.
Automatic Extensions for Disaster Victims
In cases of natural disasters, the IRS may automatically extend tax deadlines.
For example, taxpayers affected by the Los Angeles-area wildfires now have until October 15, 2025, to file their federal tax returns and make payments.
When Will I Receive My Tax Refund?
The IRS usually issues refunds within 21 days for those who file electronically and choose direct deposit. Paper returns take longer to process.
2024 Refund Data
In 2024, the average federal tax refund was $3,138, according to IRS data.
By keeping track of these deadlines and filing on time, you can avoid penalties and receive your refund as quickly as possible.
