Get Ready to File Your Taxes in 2025: Key Tips for Taxpayers and Professionals

As the 2025 tax season approaches, it’s time to ensure you’re prepared for a smooth and efficient filing process. Whether you’re a taxpayer looking to maximize your refund or a tax professional guiding clients, preparation is key. The IRS offers valuable resources on its Get Ready page to help navigate changes, gather documents, and avoid delays.

What to Know and Do Before Filing

1. Gather and Organize Tax Records Early

Start by compiling key documents:

• Income Statements: Forms W-2, 1099, and other income-related forms.
• Receipts: Especially for deductible expenses, such as business costs, medical bills, and charitable contributions.
• Investment Information: Gain/loss statements from brokerage accounts.
• Homeownership Details: Mortgage interest, property taxes, and energy credit eligibility documents.

Keeping your records organized ensures accuracy and minimizes stress when it’s time to file.

2. Understand Life Changes and Their Tax Impacts

Significant life events can affect your tax return, refund, or amount owed. Some examples include:

• Marriage or Divorce: Filing status and deductions may change.
• Having a Child: Eligibility for child-related tax credits.
• Job Changes or Relocation: Impacts on income, deductions, and state filing requirements.
• Retirement or Starting a Business: Potential adjustments in taxable income or deductible expenses.

3. Know What to Do With Form 1099-K

If you receive income through third-party payment platforms (e.g., Venmo, PayPal, Etsy), you may get a Form 1099-K. Ensure these amounts align with your records, as they are now more closely scrutinized by the IRS.

4. Explore Home and Energy-Related Credits

Homeowners can take advantage of incentives for energy-efficient upgrades, such as solar panels, energy-efficient windows, or HVAC systems. Check eligibility for credits like:

• The Residential Clean Energy Credit.
• The Energy Efficient Home Improvement Credit.

These credits can significantly reduce your tax liability while promoting sustainability.

5. Avoid Refund Delays

Refund delays are frustrating but preventable. Tips to ensure faster processing:

• File electronically and choose direct deposit for your refund.
• Double-check personal information like Social Security numbers and bank account details.
• Resolve any outstanding tax issues, such as prior-year returns or unpaid balances.

6. Plan for Refund Timing

Refunds aren’t immediate. Most are issued within 21 days if filed electronically with direct deposit, but factors like Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) claims may result in additional processing time.

Tax Professionals: Help Your Clients Stay Ready

As a tax professional, you can guide your clients through preparation by:

• Educating them on important changes and credits.
• Assisting with record organization and understanding IRS requirements.
• Encouraging electronic filing to streamline the process.

Where to Find More Information

Visit the IRS Get Ready page for comprehensive guidance, including:

• A checklist of essential tax documents.
• Resources to navigate specific tax scenarios.
• Information about new tax credits and requirements for 2025.

Early preparation is the key to a stress-free tax season. By organizing documents, understanding changes, and using available resources, you can file accurately, avoid delays, and get the refund you deserve.

https://www.irs.gov/newsroom/irs-announces-jan-27-start-to-2025-tax-filing-season-agency-continues-historic-improvements-to-expand-enhance-tools-and-filing-options-to-help-taxpayers