Benjamin Franklin famously remarked that “death and taxes” are the only certainties in life.

While the timing of the first certainty might be uncertain, you can always expect tax season to occur at the same time annually, and for taxpayers across the United States, it is about to commence.

Some individuals might already be on top of things, having submitted their returns to the Internal Revenue Service, while many others may prefer to delay it as long as possible.

Nevertheless, it’s vital to keep track of the filing deadlines, including when to request an extension. Naturally, everyone also wants to know when they can anticipate receiving any potential refunds.

Here are the essential dates for the 2025 tax filing season.

When does the 2025 tax season commence?

Tax season officially kicks off on Monday, January 27.

However, that doesn’t prevent you from starting your tax filing now.

Although Monday is the first day the IRS will begin to accept tax returns for the 2024 tax year, Americans can file even sooner to ensure their returns are among the first processed by the IRS.

What is the deadline for 2025 tax filing?

This year’s deadline will be on the usual date of April 15.

Tax Day consistently falls on this date unless April 15 falls on a weekend or a holiday. This year, it will be on a Tuesday.

What is the last date to request an extension?

The last day to apply for an extension is April 15, according to IRS guidelines. This allows taxpayers until October 15 to file without facing penalties.

Those impacted by natural disasters automatically receive this extension.

Extension requests can be submitted to the IRS without any fee – both electronically and using paper form 4868 – requiring taxpayers to provide basic information like their names, home addresses, Social Security numbers, and any payment, if applicable. However, since the extension only applies to filing the tax return, taxes owed must still be paid by the April 15 deadline.

What are the consequences of missing the tax deadline?

For those who forget or completely miss the deadline, there is a standard penalty of 5% of the taxes owed for each month the return is late, with a maximum of 25% of the unpaid amount.

If you file a return but don’t pay the owed taxes, or if you receive an extension but neglect to pay your taxes, a smaller penalty of 0.5% will be applied.

How quickly are refunds processed?

In most cases, you can expect your tax refund within a month or less.

The IRS states that most refunds are processed within 21 calendar days. However, paper returns may take four weeks or longer.

The Where’s My Refund? tool, updated every night, is the easiest way to track your refund within 24 hours after e-filing. For those who submitted a paper return, the refund information is typically accessible after four weeks.

How many individuals file taxes each year?

In 2024, over 163 million tax returns were filed, reflecting a 0.9% increase from 2023, as per the IRS reports.

The IRS anticipates more than 140 million individual tax returns will be submitted for the 2024 tax year ahead of the April deadline.

Contributors: Medora Lee, Daniel de Visé, YSL News