Key Tax Filing Deadlines in New York for 2025
Introduction
Tax season is a critical period for all individuals and businesses. Understanding tax filing deadlines and staying informed about regulatory updates is essential to meeting obligations and avoiding penalties. At Connoisseur Consultants, we specialize in providing expert tax advisory and financial consulting services to ensure that individuals, families, and businesses in New York remain compliant and maximize their tax benefits.
Below, we outline the most important tax filing deadlines for the 2025 tax season, covering the 2024 fiscal year.
Start of Tax Season
The Internal Revenue Service (IRS) has announced that the 2025 tax filing season will officially begin on Monday, January 27, 2025. From this date, taxpayers can start filing their 2024 tax returns. At Connoisseur Consultants, we encourage early filing to avoid processing delays and ensure financial stability.
Tax Filing Deadline
The standard deadline for filing federal income tax returns is April 15, 2025. Taxpayers should ensure they file before this date to avoid penalties, interest charges, and potential audits.
For those in need of assistance, Connoisseur Consultants provides tax planning and preparation services to simplify the process and help maximize deductions.
Filing Extensions
If a taxpayer needs additional time to prepare their return, they can request a six-month extension, moving the deadline to October 15, 2025. However, it is crucial to understand that:
- The extension only applies to filing the tax return, not to paying taxes owed.
- Any amount owed must be estimated and paid by April 15, 2025, to avoid penalties and interest.
At Connoisseur Consultants, we assist clients in determining whether an extension is necessary and ensure compliance with IRS regulations.
Estimated Tax Payment Deadlines
For individuals and businesses that must make estimated tax payments, the following deadlines apply for the 2025 fiscal year:
- January 15, 2025 – Fourth and final estimated tax payment for the 2024 fiscal year.
- April 15, 2025 – First estimated tax payment for the 2025 fiscal year.
- June 15, 2025 – Second estimated tax payment for the 2025 fiscal year.
- September 15, 2025 – Third estimated tax payment for the 2025 fiscal year.
- January 15, 2026 – Fourth estimated tax payment for the 2025 fiscal year.
By consulting with Connoisseur Consultants, businesses and individuals can develop customized tax strategies to ensure timely payments and avoid unnecessary penalties.
State Tax Law Updates
According to Governor Kathy Hochul’s Fiscal Year 2025 Budget, there will be no increases in personal income or corporate taxes. Additionally, the state’s financial reserves will remain at the gold standard of 15% to safeguard against economic challenges.
At Connoisseur Consultants, we continuously monitor state and federal tax law changes to keep our clients informed and prepared.
Conclusion
Staying informed about key tax deadlines and regulations is essential for effective financial planning. At Connoisseur Consultants, we are committed to helping individuals, families, and businesses in New York navigate tax season with confidence.
We encourage taxpayers to mark these dates in their calendars and seek professional guidance to ensure compliance and optimize tax benefits. If you need assistance, our team is ready to provide expert tax advisory services tailored to your needs.
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