April 15 is tax day in 2025. The majority of taxpayers file in the last month before the deadline, meaning the coming weeks are busy for tax professionals.

1. Organize Documents

Most taxpayers will have multiple documents. Common forms include W-2s and 1099s. Previous year's returns may be useful in making sure a taxpayer has all of the forms they need.

2. Ask Questions

While online tax preparation programs have limited information, the advantage of working with a qualified professional is they can answer specific, tailored questions about changes to both the tax code and a taxpayer's life. Previous strategies may no longer be the most effective.

3. IRA Contributions

For those who qualify, they have until April 15, 2025, to make contributions to a Roth IRA for the 2024 Tax Year. Those under 50 can deposit up to $7,000, while those over 50 can deposit up to $8,000.

4. Report All Income

Beginning this year, taxpayers who receive more than $5,000 in payments for goods or services through either an online marketplace or payment app should receive a Form 1099-K. The IRS has reminded people that, even if they don't receive a form, they're still required to report all forms of income.

These assets and income include digital assets, such as cryptocurrencies. Taxpayers must keep records of sales, purchases, and exchanges just as they would for any other asset.

5. Request Extensions

For taxpayers who are unable to file or pay their taxes by April 15, they shouldn't ignore the deadline. They should instead file for an extension, which covers filing and not paying taxes. Taxes are still due April 15, even for those who have an extension.

If a taxpayer is unable to pay their taxes by April 15, they should still file a tax return. When filing, they can request a short- or long-term payment plan. While these plans will accrue interest, they will generally not penalize taxpayers.

Call an Experienced Tax Attorney Today

If you have questions about the current tax season, call Senior Partner, Tax Controversy Attorney, and former IRS attorney Brandon A. Keim at (602) 200-7399 or contact him online to discuss your options.