Tips for a Smooth Filing Season
With tax time fast approaching, it is time to review some tips for making sure your tax preparation process goes smoothly. The IRS will open e-filing for 2025 returns on January 26, 2026, and we’ll be ready to go as soon as you are!
Here are some tips for making sure that everything goes smoothly, and that nothing is forgotten:
● Providing all forms and complete information. Please do not rely only on forms that you receive in the mail. The mail system has not always been the most reliable in recent years, and you may have opted into electronic delivery for certain forms without even realizing it. We can only tell you what forms you had last year, not necessarily what you should have this year. Please make sure that you review all sources of income and check your online accounts for tax forms. Please note that if you took any distributions from an HSA, you will have a 1099-SA from the HSA custodian even if all of the distributions were for health expenses (this form is commonly overlooked). If you are in doubt as to whether any income you received is taxable for not, please ask us. We do not want you to forget forms and get notices from the IRS later!
● While you should receive most information forms (W-2s and 1099s) by January 31, some forms (especially those for brokerage accounts) may not be issued until March 1. If you have any income from pass-through entities, the K-1s will not be available until the pass-through entity (partnership, S-Corp, trust, or estate) will not be available until said entity files their return. If that means that we must file for an extension, that is not an issue. It is better to extend than to file an incomplete return and amend later. Taxes are always due by April 15, 2025, even if you extend, and we can assist you with figuring an estimated amount to pay with all information available.
● NEW OBBBA DEDUCTIONS: If you are intending to claim deductions for new vehicle interest, tip income or overtime income please contact our office to set up a drop-off appointment. All these deductions have specific substantiation requirements, so we would like to go over everything at drop-off to see if we have everything that we need.
● The IRS is reducing the number of paper checks they receive. We do not recommend paying the IRS with paper checks. While paper check refunds are still available, the IRS will delay issuing refunds with paper checks by six weeks. We strongly suggest that you provide direct deposit information when you bring in your tax information.
● We are now offering personalized organizers based on your 2024 return. These take the place of the worksheets that we mailed out in December and are personalized to you! They include all forms that were included in your 2024 return. If you are interested in an organizer, please contact our offices and we will be happy to provide one. We will either upload it to the file sharing portal as a fillable pdf at no charge or will mail a paper copy for $15. While we are on the portal, please use the portal for sharing any tax documents with us. Email is not secure, so we cannot accept documents submitted as email attachments. Please let us know if you need to set up a portal account. It is very user friendly.
● Please plan on dropping off all available documents to us no later than Apr 1, 2026. We will apply rush fees for any late drop offs this year. If we still need to extend, that will not be an issue. We just need the time to plan accordingly.
If you have any additional questions, please do not hesitate to contact our offices. We are here to help!
This content is informational only and does not constitute tax, legal or professional advice. While best efforts are made to ensure all information is accurate at the time of posting, tax laws and guidance from regulatory agencies are subject to change. For personal tax advice, please contact our office to schedule a tax planning appointment.
