Key Terms and Dates for the 2025 Tax Season in the United States

Tax season 2025 is well underway, and with it comes the need to prepare to meet our obligations to the taxpayer. IRS. For many members of the Latino community in the United States, this process can be confusing because of the large number of forms, deadlines y terms technicians.

In this article, we will share with you the concepts and most important dates you should keep in mind. Staying informed and organized can help you not only avoid penalties, but also help you maximize your credits y deductions.

Key Terms for the 2025 Tax Season

IRS (Internal Revenue Service):

It is the federal government agency in charge of collecting taxes and enforcing tax laws in the United States. All your documentation and tax payments go to this entity.

AGI (Adjusted Gross Income):

Adjusted Gross Income" is the amount that results after subtracting certain allowable expenses (retirement contributions, student loan interest, etc.) from your total income. This number is critical in calculating your tax liability and your eligibility for various credits.

W-2:

Form your employer sends you reflecting wages and tax withholdings for the year. It reflects the employees' annual income and is crucial to correctly complete your tax return.

1099:

It is used for self-employed workers or contractors who receive payments for services, royalties, interest or dividends. It reflects your income and is crucial to correctly complete your tax return.

E-File (Electronic Presentation):

Submitting your return using online platforms or authorized tax software. This speeds up processing and can get you your refund faster, if you are entitled to one.

Standard Deduction:

A fixed amount that the IRS allows to be subtracted from your adjusted gross income, without the need for specific receipts.

Itemized Deductions:

You enter specific expenses, such as mortgage interest, state taxes, charitable donations, etc. It is recommended that you itemize if the sum of your deductible expenses exceeds the standard deduction.

Tax Credits:

They directly reduce the amount of taxes you have to pay. Common examples: Earned Income Tax Credit (EITC). Child Tax Credit (CTC). Education Credits (American Opportunity, Lifetime Learning).

ITIN (Individual Taxpayer Identification Number):

Identification number for taxpayers who do not have an SSN (Social Security Number). Allows immigrants to file taxes and comply with tax laws, even if they do not have legal status.

Important Dates for 2025

January 27, 2025:

Official start of the tax filing season according to the IRS. As of this date, electronic and paper submissions are accepted.

January 31, 2025:

Deadline for employers to send you the Form W-2 and/or the 1099. If you do not receive it, contact your employer.

April 15, 2025 (Tax Day):

Usually, this is the deadline for filing your tax return. If this day falls on a weekend or holiday, it may be extended one or two days, but you should confirm if it applies in 2025.

Extension:

If you are unable to file on time, please request a extension to October 15. Remember that the extension avoids penalties for late filing, but does not delay the payment of taxes due.

June, September and January (Estimated Payments):

If you are independent worker or you have income that does not automatically withhold taxes, you must make estimated payments to the IRS on a quarterly basis to avoid interest and penalties.

Tips for the Latino Community

Gather your documents in advance:

Review your W-2 or 1099 forms, bank statements and proof of deductible expenses. If you use an ITIN, make sure it is current.

Verify your Eligibility for Credits and Deductions:

Tax assistance programs can help you reduce your bill or even get a refund. Have all supporting documentation on hand.

Declares in Time:

The IRS recommends electronic filing for faster and more secure processing and faster tax refunds.

Seek professional help if you need it:

If your situation is complex (for example, if you are self-employed or have investments), a specialized advisor or accountant will ensure that you comply with the laws and make the most of your benefits.

Conclusions

Understanding the key terms and dates of the 2025 tax season is essential for everyone in the United States. For the Latino community, this is particularly important, as many immigrants must deal with employment conditions and additional documents such as ITINs.

Staying informed, organizing your paperwork and filing on time can save you headaches, penalties and help you benefit from potential credits and refunds.

Remember that, if you have any doubts, it is always advisable to go to a professional or a reliable organization to receive personalized advice. Tax season doesn't have to be a headache: with the right information and a little organization, you will be able to meet your obligations and, hopefully, get a good refund.

💰 Are you ready to maximize your refund this season? Don't let the stress of filing your taxes slow you down. Visit our blog for more tips and make sure you get every dollar you're entitled to.

At USA FILE SolutionsWe are committed to helping you through every step of the financial process. Our team of accounting experts is aware of all updates and changes in regulations and is prepared to assist you in the preparation and filing of your taxes in an accurate and timely manner.

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If you have questions about the changes in tax filing procedures or if you need assistance in preparing and filing your return, please do not hesitate to contact us.

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