Ready, Aim, File! The 2025 Tax Filing Season is Here
The 2025 tax year is in full swing, and our team at Thomson Accountants are prepared and ready to help you.
As you organize your incoming tax documents for 2025, you may find yourself waiting for the ‘loose ends’ to arrive. It is common for most tax forms to be received around February or after. The best way to confirm you have all your documentation is to request a “Wage and Income Transcript” for the 2025 tax year from IRS.gov to be sure you don’t miss anything. This list will include all documentation that the IRS expects you to report in your taxes; but remember – this list will not include any self-made income, and it is up to the taxpayer to include this information.
DON’T RUSH! Wait to file until you have all your tax records, which may include:
- Forms W-2 from your employer(s)
- Forms 1099 from banks, issuing agencies and other payers, including unemployment compensation, dividends, pension, annuity or retirement plan distributions
- Form 1099-K, 1099-MISC, 1099-NEC, W-2 or other income statement if you worked in the gig economy
- Form 1099-INT if you were paid interest
- Other income documents and records of digital asset transactions
- Form 1095-A, Health Insurance Marketplace Statement, to reconcile advance payments or claim Premium Tax Credits for Marketplace coverage
- IRS or other agency letters
- CP01A Notice with your new Identity Protection PIN, if applicable
DON’T DISREGARD. Most income is taxable, including:
- unemployment income
- interest received
- self-employment income
- digital assets
DON’T FORGET: Every year is different, and you may have experienced changes that could affect your tax return or refund, like:
- Life events such as purchasing a home, going to college, or losing a job may make you eligible for certain tax benefits.
- Other circumstances, such as getting married or divorced, welcoming a child or experiencing the death of a spouse or a dependent you claim could also affect your tax benefit eligibility and filing status.
- Energy-related credits, electric vehicles and home energy tax credits may also help with your tax liability/refund.
Follow these guidelines for the 2025 tax filing year, and you can look forward to an efficient, streamlined process in the preparation and filing of your tax return.
Ashia Thomson has been the owner of the longstanding firm, Baer Tax Group since the fall of 2022, now recognized as Thomson Accountants in the hamlet of Ghent, NY; with a second office of Thomson Accountants & Advisors in Troy. She holds an MBA & BS in Accounting from Molloy University.
