New Tax Filing Deadlines & Forms for 2025: Everything You Need to Know

Everything Small Business Owners and Freelancers Need to Know for Tax Year 2025

Tax season might not be your favorite time of the year—but knowing what’s ahead can save you from last-minute stress, unexpected tax bills, or worse, IRS penalties.

In 2025, there are several important updates that every business owner, freelancer, and individual taxpayer should know about. From new filing deadlines to fresh tax breaks, this guide walks you through the key changes—written in plain, easy-to-follow language.

Let’s dive in.

Key Tax Filing Deadlines for 2025

Here’s the date you need to circle on your calendar:

April 15, 2025 — This is the main deadline for filing your 2024 tax return (yes, you’re filing for last year’s income in 2025).

Other Important Tax Deadlines:

     Deadline                                       Purpose

   January 31, 2025                 Employers must send W-2s & most 1099s to workers and the IRS

   April 15, 2025                      Last day to file taxes or request a 6-month extension (Form 4868)

   October 15, 2025                Final deadline for those who requested an extension

Tax Tip:

If you’re in a federally declared disaster area, you may automatically qualify for extended deadlines. Always check the IRS’s disaster relief updates before filing.

New IRS Tax Forms & Changes for 2025

Filing taxes in 2025 comes with a few fresh twists. Here’s what’s new:

1. Standard Deduction Increases

Thanks to recent tax changes under the One Big Beautiful Bill (OBBB), standard deductions have gone up significantly:

●    Single filers: $15,000

●    Married filing jointly: $30,000

●    Head of household: $22,500
Bonus for Seniors (65+): An additional $2,000 per filer, plus a special temporary bonus of $6,000 under the new law.

2. Major New Tax Breaks

This year brings never-before-seen deductions:

●    No Tax on Cash Tips: Workers in industries like restaurants and salons can deduct up to $25,000 of cash tips (phased out for high earners).

●    Overtime Deduction: Eligible workers may deduct up to $12,500 for overtime earnings.
 

3. 1099-K Reporting Threshold Lowered

Starting this year, payment apps like PayPal, Venmo, and others must send a Form 1099-K if you receive over $5,000 in total transactions (previously it was $20,000 or 200 transactions).

If you earn side income through online sales or gig work, you’ll likely get this form—so keep records of business vs. personal transactions.

4. IRS Direct File Expands

The IRS has expanded its Direct File program to 25 states, allowing more Americans to file their federal taxes for free online.

Here is the list for 25 States:

Alaska                             Arizona                              California                                  Connecticut

Florida                            Idaho                                  Illinois                                        Kansas

Maine                             Maryland                           Massachusetts                        Nevada

New Hampshire          New Jersey                        New Mexico                             New York

North Carolina             Oregon                               Pennsylvania                           South Dakota

Tennessee                     Texas                                  Washington                              Wisconsin

Wyoming

Common Tax Forms You’ll Likely See in 2025:

●    Form 1040 – Individual income tax return

●    Form 1099-K – Payment card & third-party network transactions

●    Form W-2 – Wage and tax statement from employers

●    Form 4868 – Extension to file your return

●    Schedule A – Itemized deductions (especially relevant for SALT, medical expenses, etc.)

How to Stay on Top of Tax Season in 2025

Here’s your action plan to simplify tax season this year:

• Organize Your Records Early: Keep all your W-2s, 1099s, receipts, and digital payment statements together.
  
• Check IRS Updates: Bookmark the IRS website for news on new forms, deductions, and deadlines.
  
• Don’t Forget Extensions: If needed, file Form 4868 before April 15 to buy extra time (but pay what you owe to avoid interest!).
  
• Know Your Rights: If you’re in a disaster-affected area, check for automatic filing relief.
  
• Keep Digital Copies: The IRS is going paperless, so digital copies of your tax documents will come in handy.
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Final Thoughts: Be Proactive, Not Reactive

While the IRS has rolled out some taxpayer-friendly changes—like higher standard deductions and new cash-tip deductions—tax season still requires careful attention.

By staying informed, filing on time, and keeping your financial documents in order, you can navigate the 2025 tax season confidently and stress-free.

Remember: Your taxes aren’t just a yearly chore—they’re an opportunity to understand your money better.


Book a free consultation today!