Important Tax Filing Deadlines and Common Tax Forms for 2025

February 2025

• February 15:
  • Deadline for employers to file W-2 and 1099 forms with the Social Security Administration.

March 2025

• March 15:
  • Tax returns for S corporations (Form 1120-S) and partnerships (Form 1065) due.
  • Deadline to furnish Schedule K-1 to partners/shareholders.

April 2025

• April 1: 
  • Deadline to take your first Required Minimum Distribution (RMD) if you turned 73 in 2024.
• April 15:
  • Due date to file your 2024 tax return or request an extension.
  • Last day to contribute to an IRA or HSA for the 2024 tax year.
  • Due date for 2025 first-quarter estimated tax payments.

June 2025

• June 17: 
  • Due date for 2025 second-quarter estimated tax payments.

September 2025

• September 16: 
  • Due date for 2025 Third-quarter estimated tax payments.

October 2025

• October 15:
  • Extended deadline to file your 2024 tax return (if an extension was requested).
  • Last day to contribute to a SEP IRA for the 2024 tax year (if you filed an extension).

Understanding essential tax forms can simplify your tax preparation. Here’s a breakdown of the most widely used forms:

• Form 1040: The standard federal income tax form used to report income, claim deductions/credits, and calculate taxes owed or refunds.
• Form W-2: Provided by employers to report wages and tax withholdings. A must-have for employees filing returns.
• Form 1099: Reports income types other than wages (e.g., Form 1099-INT for interest income, Form 1099-MISC for miscellaneous income).
• Form 1040-ES: For calculating and paying estimated taxes, commonly used by self-employed individuals.
• Form W-4: Completed by employees to inform employers about how much tax to withhold.
• Schedule A (Form 1040): Used to itemize deductions, such as mortgage interest, charitable contributions, and medical expenses.
• Schedule C (Form 1040): For sole proprietors to report business income and expenses.
• Form 1098: Reports mortgage interest paid, useful for itemized deductions.
• Form 940: Employers use this to report annual Federal Unemployment Tax Act (FUTA) tax.
• Form 1120-S: Filed by S corporations to report financial data.
• Form 1065: Filed by partnerships for reporting income and deductions.
• Schedule K-1: Details each partner's or shareholder's share of income, deductions, and credits in partnership or S corporations.

Implementing strategic tax planning can significantly enhance savings and reduce liabilities. Early preparation is key. Whether you’re a W-2 employee, a business owner earning over $2 million annually, or someone with a net worth exceeding $10 million, tailored guidance can make a 6-figure difference.