The IRS knows many taxpayers will want to file their 2025 income tax returns as soon as possible to get any expected refunds. Other may delay a while for a variety of reasons. Either way, there are actions taxpayers can take in 2025 to be best prepared.
Getting familiar with changes in the law under the One, Big, Beautiful Bill will provide new information such as the additional tax credits for qualifying children, expiring tax credits, and other changes. Gathering records as you receive them from your bank, employer, and entities that send you forms such as Forms W-2 and 1099, is helpful and be sure to track digital asset transactions for proper reporting. The IRS also tells taxpayers how to check their online account. To read the full notice, click here.
