This brief overview offers insight into the steps, timing for filing taxes in 2025 for tax return for individuals new to the tax-filing process or seeking guidance on filing independently.
A Step-by-Step Guide to Filing My Taxes in 2025
Navigating the world of tax filing can be overwhelming, even for those who typically exude self-assurance. The decision-making process can be complex for first-time filers, with questions arising about the most suitable approach: Is it better to attempt filing independently, opt for DIY software, or seek professional assistance?
No matter your stage, we aim to outline four key steps to assist you in managing your taxes effectively and simplifying the process of filing taxes for the year 2025.
1. Decide Which Taxes You Need to File in 2025
Determining if you need to submit a tax return for the current year is influenced by various factors such as your income, tax filing status, age, and other considerations. Additionally, your dependency status for tax purposes plays a significant role in this determination.
Should you find yourself not obligated to submit a tax return, there remains a compelling incentive to do so: the possibility of claiming a tax deduction that could result in a refund.
Individuals with lower incomes could benefit from exploring the earned income tax credit, a refundable tax credit that are designed to assist working families. Additionally, those who have dependents under 17 years old may qualify for the child tax credit, which offers a partial refund.
File Taxes in 2025 if:
- If I am qualified for tax credits.
- If I have any income tax withheld from my paychecks.
- If I filed estimated tax payments or had last year’s tax refund applied to this year’s estimated tax.
2. Mark your calendar for 2025 Tax Deadlines and Dates
Understanding the various deadlines is essential for managing your taxes effectively. While mid-April marks the cutoff for submitting federal income tax returns for most people, there are numerous other key dates that require attention.
When Can I Begin to File My 2025 Taxes?
As of January 27, 2025, the IRS commenced its operations, signaling the initiation of receiving and handling tax returns for the 2024 tax year.
Begin getting organized with Rapid Tax now to position yourself at the forefront of the line when the queue becomes available. For instance, take advantage of the IRS Free File program for eligible taxpayers to access Rapid Tax starting on January 12.
When Do You Need to File Taxes in 2025?
Indeed, the main objective of the upcoming tax filing season in 2025 is to process tax returns for the year 2024. When the time comes, you must file your 2025 taxes by April 2026.
The deadline for submitting tax returns fell on April 15, 2024. If an extension was requisitioned by Tax Day, the deadline for your tax return would be extended to October 15, 2025. It’s important to note that tax extensions grant additional time to file your tax return but do not extend the deadline for paying your taxes.
Consider the possibility of needing to submit a state tax return as well. While the deadline typically aligns with the federal tax deadline, certain exceptions may apply.
3. Understand how your taxes are determined
When determining your tax liability, the government segregates your taxable income into distinct sections known as tax brackets. Each bracket is subject to a specific tax rate, ensuring that you pay a different rate on your entire income, regardless of which 2025 tax bracket you fall into.
In the United States, the tax system operates progressively, where individuals with greater taxable incomes face higher federal income tax rates. In comparison, those with lesser taxable incomes are taxed at lower rates.
Income taxes at the federal level represent just one component of the broader taxation landscape. In addition to federal income taxes, most states also levy income taxes, with the specifics varying based on factors like residency and location. Different states adopt different approaches to taxing income—some opt for a progressive system akin to the federal model, while others impose a flat rate. Notably, nine states, including Alaska and Wyoming, do not impose a state income tax.
4. Decide How to File your Taxes in 2025
File taxes online with Rapid Tax
Once you engage with Rapid Tax software, you are familiar with filing taxes online. Upon signing in, the system prompts you with inquiries related to your personal information, financial status, and earnings to assist in completing the necessary tax documents required by the IRS.
The cost of services may vary based on the level of intricacy in your tax return or the extent of assistance required. At Rapid Tax, a specialized and dedicated Tax Professional or Tax Help is available to guide you every step of the way.
Offering comprehensive software packages and support options, Rapid Tax provides access to knowledgeable tax professionals through on-demand, on-screen, or online platforms. Users can seek advice, have their returns reviewed, and even file taxes electronically with the assistance of these experts.
