Hey New Yorkers, It’s Tax Time Again! Are You Ready?

As we get ready for another tax season, it's time to get organized. The IRS officially kicks off tax season on January 27th, 2025, when they begin processing returns for the 2024 tax year.

Over 140 million individual tax returns are expected to be filed by the April 15th, deadline. So, it's not a bad idea to take a proactive approach when it comes to preparing your taxes.

Get Your Ducks in a Row

Before starting your tax return, make sure you have all your information together in one place. Get your 2024 tax forms, Social Security numbers, and any other relevant identification numbers you may need.

For those affected by tax-related identity theft, make sure you have your current IRS-issued Identity Protection Personal Identification Numbers handy. Some taxpayers might have to hold off on filing until mid-February or March. That is to make sure that you have received all your necessary income and tax-related documents, like 1099 forms from financial institutions reporting various income sources.

Trust the Pros

Choosing a tax professional that you trust is important in safeguarding your personal and financial information. Consider using local CPAs—certified public accountants—for your tax preparation.

Go Digital for Smooth Sailing

Filing electronically and using direct deposit can help the tax process and reduce the risk of fraud. The IRS encourages taxpayers to e-file whenever possible, because it is the fastest and most secure way to submit your return.

For most of us, the deadline to file our federal tax returns, pay any taxes due, or request an extension is April 15th, 2025. In the case of individuals living in federally declared disaster areas, extra time may be granted for filing.

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Those needing an extension will have until October 15th, 2025, to get your returns in, but remember—any taxes owed should still be paid by the April deadline. The IRS estimates that most taxpayers getting a refund can expect to receive them within 21 business days if they file electronically, choose direct deposit, and face no issues with their returns.

To track the status of your refund, use of the IRS' "Where's My Refund" webpage for updates this tax season. Let's tackle tax season with a prepared mind and follow these tips. Who knew that tax season could be so easy?

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