It’s almost the end of the year and now is a good time to prepare for tax season in 2026. Easy Tax Service would like to remind you of important tax filing deadlines and documents needed to file your tax return.
- January 15, 2026 is the due date for the fourth quarter estimated tax payment for tax year 2025.
- The document deadline for employers to send most key tax forms (W-2s and 1099s) to their employees is January 31, 2026.
- The federal tax filing deadline (Tax Day) is April 15, 2026.
- The federal tax extension deadline is October 15, 2026, if an extension has been filed by April 15, 2026.
The following are some tax tips:
- If you meet the age requirements, remember to take your required minimum distribution (RMD) for retirement accounts. For example, if you are age 73 or older (or inherited an IRA), ensure you take your RMD by December 31 to avoid a significant penalty (25% of the amount you should have withdrawn).
- Remember to contribute to tax-advantaged accounts like individual retirement accounts (IRA) and health savings accounts (HSA).
- The cap on state and local tax deductions (SALT) has been raised to $40,000 with certain limitations. If you expect to itemize deductions, consider paying your outstanding state income taxes or property taxes due in early 2026 before December 31, 2025, to accelerate the deduction into the current tax year.
- If you are inclined to do so, make charitable contributions.
- Consider giving gifts to loved ones. IRS rules allow all individual taxpayers to gift up to $19,000 per recipient (tax year 2025).
- If you itemize, organize receipts for out-of-pocket medical expenses and keep a record of your medical miles driven.
- In most cases, you may deduct more medical expenses on your Arizona state tax return compared to your federal tax return because medical expenses are 100% deductible as an Arizona itemized deduction.
- If you have a small business, organize receipts separately for business expenses.
- If you use a vehicle for business use, keep contemporaneous records of your business mileage and actual expenses.
- Be Aware of New Deductions for 2025: The “One Big Beautiful Bill Act” (OBBB) introduced new deductions for 2025, including deductions for qualified tip income and qualified overtime compensation, as well as a bonus deduction for seniors.
Easy Tax Service in Prescott Valley can help if you have any questions about filing your taxes. Our tax preparers have over fifty years of combined experience preparing taxes. Easy Tax Service is open year-round and committed to providing high-quality tax preparation service at a price you can afford. Please give us a call at 928-775-7000 to schedule an appointment today.