Your Ultimate Guide to Filing Your 2025 Taxes in 2026

Tax season is here, and it’s time to tackle your taxes for the 2025 tax year. While you’ll file your taxes in 2026, the information you report reflects income earned and deductions made during 2025. This distinction is key to staying organized and avoiding costly mistakes. With a little preparation and the right resources, you can make filing your 2025 taxes smooth and stress-free.

Step 1: Organize Your Documents

A hassle-free tax season starts with preparation. Keep all your paperwork in one secure location—whether physical or digital—for easy access. Key documents include:

• Income Statements: W-2s for employees and 1099s for freelance or side income, all tied to 2025 earnings.
• Receipts: Save everything related to deductible expenses, such as donations, medical bills, childcare, education costs and business-related travel expenses from 2025.
• Military-Specific Documents: PCS orders, combat pay records, or housing allowance statements can help you take advantage of military tax benefits for 2025.
• Last Year’s Tax Return: This is a handy guide to ensure you don’t miss deductions or credits you’ve claimed before.

PRO TIP: Create a folder now for the 2026 tax year. Collecting receipts and documents as you go makes next year’s filing process much easier.

Step 2: Take Advantage of Free Tax Preparation Resources

Free tax preparation resources can help you save money and ensure your taxes for the 2025 tax year are filed accurately. Explore these options:

• IRS Free File: Free online tax preparation and filing for individuals with an adjusted gross income (AGI) of $73,000 or less.
• Volunteer Income Tax Assistance (VITA): Free tax preparation for those earning $67,000 or less, individuals with disabilities, and limited English speakers.
• Tax Counseling for the Elderly (TCE): Free assistance for seniors aged 60 and over, focusing on retirement-related tax issues.
• MilTax: Free e-filing software and expert support tailored for military members and veterans.
• Free File Fillable Forms: Basic e-filing for confident DIY filers who are comfortable navigating tax forms on their own.

Visit the IRS website for additional tax filing information and helpful resources.

Step 3: Know the Deadlines for the 2025 Tax Year

Avoid penalties and unnecessary stress by marking these critical tax deadlines on your calendar:

• Federal Tax Deadline: April 15, 2026. Filing by this date ensures you avoid late fees and penalties. You may qualify for an extension if you’re an active-duty military member in a combat zone.
• Quarterly Estimated Taxes: If you’re self-employed or have significant side income, staying on top of estimated tax deadlines is crucial to avoid underpayment penalties.
• IRA Contributions: You can contribute to a traditional or Roth IRA for the 2025 tax year up until April 15, 2026, and still claim the deduction for 2025.

PRO TIP: Don’t wait until the last minute! Early filing gives you more time to spot errors and address missing documents.

Step 4: Maximize Your Tax Refund

Take every opportunity to reduce your taxable income and maximize your refund:

• Retirement Contributions: Contributions to a traditional IRA may be tax-deductible, reducing your taxable income for the 2025 tax year. Learn how to open an IRA on our savings account page.
• Catch-Up Contributions: If you’re 50 or older, you can contribute an additional $1,000 to your IRA on top of the standard $6,500 limit, bringing your total contribution to $7,500 for 2025. This extra contribution is a great way to save for retirement while reducing your tax burden.
• Claim All Credits and Deductions: From the Child Tax Credit to education credits and deductions for student loan interest, every eligible credit adds up.

PRO TIP: Opening an IRA with Frontwave is a simple, smart move to grow your retirement savings while enjoying potential tax benefits. Visit your nearest Frontwave branch or explore our options online to get started today.

Step 5: Avoid Common Tax Mistakes

Many taxpayers leave money on the table or face penalties due to avoidable errors. Here’s how to avoid the most common tax mistakes:

• Missed Deductions: Review your expenses carefully. Charitable donations, out-of-pocket medical expenses, and even home office costs for freelancers are often overlooked.
• Misreporting Income: Side gigs, freelance work, or rental income should all be reported.
• Procrastination: Filing early gives you more time to address errors or missing information.

PRO TIP: Utilize the IRS's Interactive Tax Assistant (ITA) to identify qualifying deductions. This user-friendly tool guides you through a series of questions to provide personalized answers based on your unique tax situation, helping you maximize your eligible deductions.

Step 6: Plan Ahead with a Dedicated Savings Account

Tax season isn’t just about reacting; it’s about planning. Open a dedicated savings account to prepare for next year:

1. Open an Account: You can easily set one up online or at your nearest Frontwave branch.
2. Automate Savings: Schedule regular transfers to your account. Small, consistent contributions add up over time.
3. Watch It Grow: Use this account to set aside money for taxes or unexpected financial needs throughout the year.

Tax season can go from overwhelming to empowering with these tips and resources. Whether you’re organizing your documents or contributing to your IRA, we’re here to help you make 2026 the year you tackle 2025 taxes with confidence.

Dream big. We got you.