Your Ultimate Guide to Filing Taxes in 2025

Filing taxes can feel overwhelming, but with the right tools and knowledge, you can tackle tax season with confidence. Whether you’re aiming to maximize your refund, avoid penalties, or simply stay organized, we’ve got you covered. In this guide, we’ll share actionable tips to make your 2025 tax filing process as smooth as possible.

What Documents Do You Need to File Taxes?

• Income Statements: W-2s for employees, 1099s for freelancers, and any other income forms.
• Deduction Records: Receipts for charitable donations, medical expenses, and business costs.
• Investment Info: Forms for dividends, interest, or stock sales (e.g., 1099-DIV, 1099-INT).
• Tax Forms: Last year’s return, proof of estimated payments, and any IRS correspondence.

Pro Tip: Keep everything organized in a dedicated tax folder—digital or physical.

Maximize Your Refund with Deductions and Credits

• Child Tax Credit: Up to $2,000 per child.
• Earned Income Tax Credit (EITC): For low- to moderate-income earners.
• Retirement Contributions: Contributions to traditional IRAs or 401(k)s.
• Education Credits: For tuition and student loan interest.

Review your eligibility for these benefits—it could mean more money in your pocket!

Tax Deadlines to Remember

• January 31: Employers must send W-2s and 1099s.
• April 15: Deadline for filing your return or requesting an extension.
• October 15: Final deadline for extended filings.

Missing deadlines can lead to penalties and added stress.

Should You Use a Tax Pro or File on Your Own?

• Your taxes are straightforward.
• You’re tech-savvy and comfortable with online tools.

• You own a business or rental property.
• You have significant investments or deductions.
• You want personalized advice.

Tax season doesn’t have to be daunting! By staying organized, knowing your deductions, and meeting deadlines, you can take control of your finances and potentially boost your refund.

📢 Ready to make the most of your 2025 tax season? Contact EFCU today for resources and financial guidance!