Tax Season 2025: Essential tips and tricks for a smooth filing experience
Welcome to Tax Season 2025! We're here to guide you in preparing your taxes with the latest IRS updates, essential filing information and expert advice.
Whether you're a first-time filer or a seasoned pro, our comprehensive coverage will provide you with what you need. From when and how to file to the latest changes in tax laws to advanced strategies for maximizing your returns, we're here to help.
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5 financial lessons you should learn from Trump’s tax returns
Getty Images President Donald Trump’s tax returns have revealed strategies that reduced his tax bills but also highlighted risks every taxpayer should avoid.
For individuals and business owners, these records offer critical lessons about leveraging tax laws and managing risk. Here are five key takeaways to guide smarter financial decisions, blending Trump’s methods with expert-approved compliance strategies.
Tax Day 2025: IRS warns of 7 mistakes that can delay your return
Getty Images Tax Day is officially on our collective doorstep, and while a lot of folks out there have already filed their tax returns — over 100 million — some haven't, but you still have time to get yours sorted. However, at this stage, errors on your return can become a much bigger hassle than usual.
3 tips for last-minute tax filing
What happens if you don't file your taxes or an extension by April 15?
Getty Images/iStockphoto The big day is almost here. Tax Day is April 15 for most Americans, and if you don't file an extension or complete your tax return by midnight, you'll be delinquent.
For taxpayers who are certain they'll receive a refund on their 2024 tax return, the only harm in missing the tax deadline is letting the IRS hold on to your money a bit longer. However, if you owe taxes, you don't want to wait — penalties and interest can pile up quickly.
Tax Day food deals 2025: Score discounts, freebies at Krispy Kreme, Burger King, more
Toronto Star via Getty Images Tax Day is coming this week and restaurant chains across the country are offering customers freebies and discounts to celebrate the occasion.
Here's where you can get deals and freebies on Tuesday to celebrate the end of tax season in 2025.
Can everyday Americans use the same tax loopholes as Trump?
Getty Images How did President Donald Trump pay so little in taxes despite having significant income and wealth? More importantly, how can you pull the same maneuvers? Here are seven tax loopholes President Trump used that might benefit your tax filings, too.
Return-to-office chaos is coming for your tax return
Exhausted female business professional with eyes closed sitting with head in hand near desk at office (Getty Images/Maskot) Tax season is a source of angst for many Americans. This year, Internal Revenue Service employees who have returned to the office are in the same boat.
Do billionaires still collect Social Security? The answer might surprise you.
WASHINGTON, DC - NOVEMBER 13: Elon Musk listens as U.S. President-elect Donald Trump addresses a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC. As is tradition with incoming presidents, Trump is traveling to Washington, DC to meet with U.S. President Joe Biden at the White House as well as meet with Republican congressmen on Capitol Hill. (Photo by Andrew Harnik/Getty Images) (Getty Images) As long as they have a qualifying work history, billionaires collect Social Security benefits like everyone else. But not precisely like everyone else.
What if I can’t pay my taxes? 5 ways to manage your bill.
Stressed, tired and overworked male entrepreneur working from his kitchen at home. Young frustrated caucasian man unhappy about an email feeling on his laptop and feeling sad in his house (Getty Images) Realizing you can’t pay your taxes can be especially stressful, but it’s a problem many Americans face. About 18.6 million individual taxpayers owed the IRS a collective $360 billion in back taxes as of 2022.
Last chance for some Americans to claim $1,400 IRS check: Here's who's eligible
Getty Images Are you eligible for a $1,400 payment? Some Americans are running out of time to claim it.
5 scary things the IRS can do if you owe tax debt
Worried male entrepreneur having problems while working on laptop in the office. (Getty Images) While having any debt can stress you out, owing money to the IRS can become a nightmare if you don’t understand the potential consequences and fail to address your tax debt quickly.
Proud of your giant tax refund? Congrats, you just gave the government an interest-free loan.
Keep this in mind when you celebrate that big tax refund this year: The money you’re celebrating has always been yours.
It might feel like a sudden windfall, but it’s not.
No state has axed its income tax on wages in 45 years. Now 2 Southern states are on a path to do so.
United States of America map isolated. USA map with division on states â stock vector (Getty Images) About 45 years have passed since a U.S. state last eliminated its income tax on wages and salaries. But two Southern states now are on a path to do so, if their economies keep growing.
Why rich people pay less in taxes, and how you can use their strategies
SUN VALLEY, IDAHO - JULY 13: Warren Buffett, Chairman and CEO of Berkshire Hathaway, makes his way to a morning session at the Allen & Company Sun Valley Conference on July 13, 2023 in Sun Valley, Idaho. Every July, some of the world's most wealthy and powerful figures from the media, finance, technology and political spheres converge at the Sun Valley Resort for the exclusive weeklong conference. (Photo by Kevin Dietsch/Getty Images) (Getty Images) Billionaire Warren Buffett famously proclaims to pay a lower effective tax rate than his secretary, as he wrote in a New York Times op-ed. He does so by simply taking advantage of IRS rules that enable many wealthy people to minimize taxes.
Divorced, separated or widowed in 2024? How it will affect your tax return.
knife cutting between bride and groom figurines, relationship breakup (Getty Images) If you were widowed, separated, or got divorced from your spouse in 2024, it’s likely going to affect your tax return and refund.
4 tax perks only available to retirees — and how to claim them
Senior couple embracing in front of residential home (Getty Images) You may not be earning an income from a job anymore now that you’re retired. But that doesn’t mean you’re not on the hook for paying taxes.
The good news is that there are several tax breaks available to retirees.
$1 billion in tax refunds will disappear in 14 days if you don’t claim them
Ensure that you're making the right contributions and withdrawals from your retirement accounts. (Getty Images) Almost 1 million people are about to lose their tax refunds from 2021 simply because they didn't file a tax return. According to the IRS, more than 1.1 million people across the nation have unclaimed refunds for tax year 2021 and they have until April 15, 2025 — Tax Day — to do so before losing the money forever.
SSI recipients: You might want to file taxes this year even if you don’t have to
We're approaching the 2025 Tax Season deadline quickly, and if you're a Supplemental Security Income recipient, you might want to consider filing this year, even if you have no obligation to do so.
Trump and DOGE want to shrink the IRS. That may cost billions of tax dollars.
BROWNSVILLE, TEXAS - NOVEMBER 19: U.S. President-elect Donald Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket on November 19, 2024 in Brownsville, Texas. SpaceXâs billionaire owner, Elon Musk, a Trump confidante, has been tapped to lead the new Department of Government Efficiency alongside former presidential candidate Vivek Ramaswamy. (Photo by Brandon Bell/Getty Images) (Getty Images) The Trump administration is cutting hundreds of thousands of federal jobs, with a goal of saving money.
At the IRS, however, the cuts may actually cost money.
Retirees should really consider these tax-deductible home improvements in 2025
My husband and I are only in our 30s, but lately, I’ve been thinking a lot about where we’re going to spend our retirement years.
(Realtor.com) retiree home improvement (screen) I know, I know — I’m probably getting ahead of myself, but I’ve always wanted to stay in one house while our kids are growing up, so they don’t have to switch schools, and I’d like to stay in that house even after they’ve moved out, so they always have a familiar “home base” to visit.
Tax day 2025 is coming up. Here’s what to know to file by the deadline.
Even when you know tax day is coming, the deadline has a funny way of creeping up on you. As April begins, taxpayers with a tendency to procrastinate are officially entering crunch time.
April 15 is the last day to file your 2024 federal income tax return on time to the Internal Revenue Service (IRS) without incurring late filing or late payment penalties. Here’s what you need to know to both file and pay taxes before the clock strikes midnight.
Adult children caring for parents: What to know about filing taxes as a caregiver
Comforting hand on shoulder of man (Getty Images) As parents grow older and their children do, too, there comes a time when the caregiving role is reversed. And caregiving can be costly.
More than 48 million Americans are caregivers, and the average caregiver spent $7,242 in out-of-pocket expenses in 2021, according to the AARP. Last year, a Caring.com survey found more than half of adults with at least one living parent claimed that parent on their taxes.
Do renters get tax deductions or credits this tax season?
(Getty) Cropped image of owner giving house keys to tenant after filling rental forms (Getty Images/Maskot) Homeowners can take advantage of some nice perks this tax season. By itemizing deductions for real estate taxes and mortgage interest, property owners are usually eligible for IRS tax breaks that others can't claim.
What about renters? Don't expect much tax relief if you're handing over a chunk of cash to your landlord each month.
Why White House officials are considering a higher tax rate for the wealthiest Americans
Young female barista has a disappointed expression on her face as she counts her tips at the end of the day. (Getty Images) Ending taxes on tips was one of President Donald Trump's top campaign pledges, and he has reaffirmed it since returning to the White House. But extending his earlier tax cuts and making them permanent was also a campaign pledge.
Amended tax returns: What they are and how they can save you
Close up of a Tax return form with calculator (Getty Images) We've got just about two weeks left in the 2025 tax season, and this late in the game, if you made a mistake on your tax return, there's a good chance the IRS has alerted you about it. That can be alarming to hear, no matter how trivial the error was, but a simple process can get you through it: filing an amended return.
5 cost-effective ways to pay IRS debt
Receiving a notice from the Internal Revenue Service (IRS) about unpaid taxes can trigger feelings of fear, no matter what your original balance is.
After all, the combination of the original tax liability plus the penalties and interest that accumulate over time can quickly transform what could have been a manageable debt into an overwhelming financial burden.
DOGE dividend check: 3 key factors to watch that could decide if you get $5,000
Shutterstock The Department of Government Efficiency (DOGE) has been working hard to cut federal spending. If the agency achieves its objectives, consumers will experience lower inflation and interest rates. However, DOGE has also floated the idea of giving taxpayers $5,000.
However, the DOGE dividend faces a few roadblocks. Some of the roadblocks are political, while others are practical. These are some of the key factors that will determine whether you receive a $5,000 dividend from DOGE or not.
10 states that would benefit the most if Trump eliminates income taxes
Getty Images Over the last several months, President Donald Trump has repeatedly floated the idea of eliminating America’s income tax, and instead generating revenue from tariffs.
In the following 10 states, workers would receive a higher percentage added to their paychecks than any other states in the country. Did your state make the list?
Does a dead person have to pay taxes? Everything you should know.
Getty Images The saying goes that the only guarantees in life are death and taxes, but sometimes you'll have to manage both at the same time.
5 common reasons why you might owe taxes this year
Getty Images Each tax season consists of variables that might work for or against you in terms of getting a refund. However, whether you expect it or not, you might be one of the many Americans who owe taxes this year for a variety of reasons.
Time is running out. File your taxes, but don't get scammed.
Getty Images/iStockphoto This year's income tax filing deadline is less than a month away. You may be tempted to procrastinate, especially if you'll have to cough up some big bucks, but security experts say waiting until the last minute could cost you.
Waiting for That Tax Refund? IRS Debunks 4 Myths About Tracking
Getty Images We have less than a month to go until the deadline for tax returns and it's likely that a lot of you have already filed yours and are now waiting for a refund.
The IRS debunked a series of "myths" about refund dates and directed taxpayers to the options that will actually serve them best for tracking their federal refund.
Trump wants to replace income taxes with tariffs: 2 impacts on the middle class
Getty Images No one likes taxes — especially President Donald Trump. If he has his way, income taxes will become a thing of the past, with tariffs making up that revenue.
While paying less in taxes might be music to your ears, if you’re a member of the middle class, the reality might not be so rosy. Here’s why tariffs could cause financial strain for middle-class earners.
How giving back can boost your tax refund
Getty Images Donating to charity can be about more than giving back to your community. While the IRS has established charitable giving guidelines, taxpayers can maximize their deductions and increase their tax refund by making strategic contributions to their favorite causes.
How the top 1% use six loopholes to skirt $160 billion in taxes each year
Getty Images What tactics are uber-wealthy people using to avoid taxes?
It turns out that not only can they afford tax attorneys, accountants and estate planners, but there are also some tax benefits that require lots of money to even access. We’ll shed light on some of those strategies available only to the extremely rich.
Audits explained: Why they happen and when you should actually worry
Getty Images/iStockphoto With roughly a month left to go until Tax Day, a lot folks out there have already gotten their returns sorted, and based on the stats, a lot of them are probably at least a little worried about audits.
How paychecks would look in each state if Trump dropped federal income tax
Getty Images Curious what your paycheck would look like if President Donald Trump nixed the federal income tax? Here's the data to determine what checks and income would look like, state by state.
8 red flags to watch for as you file your taxes
Getty Images Filing your taxes isn’t just about avoiding an IRS audit, it’s also an opportunity to take a hard look at your own financial habits. Are you rushing through your return, overlooking deductions or relying too much on a big refund?
As you prepare your tax return, here are the warning signs to watch for that could be hurting your finances more than you realize.
See what a $100K salary looks like after taxes in your state
Getty Images/iStockphoto A six-figure salary is a goal for many people. However, even if you gotten to place in you’re life where you’re making a six-figure salary you may also be ending up taking home a lot less home after taxes, depending upon the state you live in.
Here’s a look at how much you really take home from a $100,000 salary:
Deadline approaches for claiming $1,400 stimulus check
Getty Images/iStockphoto The deadline is approaching for the more than 1.1 million Americans who have yet to claim their $1,400 stimulus check from the pandemic-era relief.
12 types of passive income that aren't taxable
larryhw / Getty Images/iStockphoto There are numerous ways to earn passive income, but unfortunately most of them are taxable. This is particularly true of income-generating investments, of which only a handful allow you to avoid paying tax on tax day.
However, there are some credits, settlements and payouts that you can receive tax-free, although these are typically paid either annually or a single time. Here’s a look at some of the types of passive income that aren’t taxable.
5 telltale signs you're dealing with a tax relief scammer
Getty Images Unfortunately, the Federal Trade Commission cautioned that some tax relief firms offer false promises, charge expensive fees and potentially leave you in a worse tax debt situation. To help protect yourself, watch out for these five telltale signs that you’re dealing with a tax relief scammer.
How much the top 1% pay in taxes in every state
Getty Images The only time the financial status of the top 1% of Americans doesn’t induce envy is during tax season. Not only does the top 1% pay taxes, but new data has uncovered that the super wealthy pay anywhere from a few million to more than $100 million in taxes.
Are you earning enough for Musk's possible DOGE dividend check? Here's the salary cutoff.
Getty Images The tax rebate would only go out to American households who pay net-positive taxes.
Who would be eligible?
What is a tax refund offset? 5 reasons the IRS can seize your refund.
Getty Images/iStockphoto When you have delinquent taxes or certain other types of debt and you’re owed a tax refund, you may find that the government has taken some or all of it.
Stimulus 2025: Everything the IRS wants you to know
Getty Images/iStockphoto The current state of the economy seems anything but stable, not to mention where your taxes fit in. It’s important to note that Elon Musk seems to have the support of President Trump when it comes to pushing forward the potential DOGE stimulus check, but that is still uncertain.
Here’s everything the IRS wants you to know about getting any potential stimulus money in 2025.
10 major benefits to Americans if Trump ends income taxes
AFP via Getty Images As part of his economic agenda, President Donald Trump has proposed eliminating federal income taxes as a way to make the country richer. Here are the top benefits that could come as a result of eliminating federal income taxes.
Tax expert: 3 records you should keep indefinitely once your taxes are filed
Getty Images/iStockphoto While it could be tempting to throw away documents after filing tax returns, doing so could put you at financial and legal risk. Maintaining certain financial records indefinitely can safeguard against future tax disputes, facilitate asset management and ensure compliance.
2025 tax season: Experts share top tips to maximize your return
Getty Images Just one month remains in the 2025 tax filing season before the April 15 deadline. Despite larger checks going out, tax season can be especially stressful. To mitigate some of these worries (and tears), professional advisers are sharing their top tips and reminders for the 2025 tax season.
3 things your tax refund can tell you about your finances (and what to do about it)
Getty Images/iStockphoto Your tax refund — or lack of — can tell you a lot about your finances. It may feel great to get a big tax refund, but it doesn’t mean it’s better. Here are three things your tax refund can tell you about your finances and what to do about it.
