March 1: March is the last full month of the tax-filing season, so that's a good reason to come at our taxes in the month's proverbial "in like a lion" mode. The first thing to attack like the feline king is the gathering of all the tax statements you'll need to fill out your 2024 return. This includes the paper ones that you stuck in a drawer when they arrived last month. Find them now, as well as download those that are delivered that way.
March 5: Official tax statements aren't the only things you'll need to help you file. Other documents have information that's relevant to your tax return. So are the answers to some basic life questions. This tax checklist can help guide you as you work on your return. And don't forget about your previous tax return. That prior tax year filing is a good template, especially if your tax life hasn't changed that much.
March 9: How are you feeling today? If you're like me, a bit tired after losing an hour of sleep earlier this morning when we shifted to Daylight Saving Time.
I know you have plenty of fun things to spend the added late-day natural daylight on, but you might want to also work on your tax returns. Yes, plural. In addition to federal returns, most Americans live in states, or the District of Columbia, that also collect personal income tax. The good news is that tax software usually includes state filing, too. If you need to file state taxes separately, most states offer free online state tax filing options.
March 10: If your job is as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation, I hope you get all the tips you deserve for doing your job well. Remember, though, that those tips are taxable income.
Whether you're dining at your favorite eatery or getting food, groceries and/or prepared meals, delivered to your home, if a tip isn't included on your restaurant or delivery bill, click the image above to calculate how much to tip the person who brought it to you.
And if you got at least $20 in gratuities in February for your extraordinary services as a food server or hair stylist or parking valet or whatever job where tipping is common, you must report that amount by today. Use Form 4070 to let your employer know the total tips you took in last month.
March 17: Erin Go Bragh and Happy St. Patrick's Day!
via GIPHYEnjoy this day, but don't trust lucky charms to get you through tax filing season. Double check your 1040 to ensure you haven't overlooked any tax breaks or made any common filing mistakes.
March 20: Spring has sprung!
That means it's time for spring cleaning. Your gifts won't help with your current tax return, but they could pay off next year as charitable donation deductions if you itemize.
March 25: If you have a tax-deferred retirement account, such as a traditional IRA or workplace regular 401(k), and are a septuagenarian, you could be facing a required minimum distribution (RMD) due date in just more than a week. If you turned 73 last year and didn't take your initial RMD by Dec. 31, you must do so by April 1. Note that your RMD deferment last year means you'll face another RMD at the end of this year, so start planning now on how you're going to deal with the 2025 taxes on two mandatory withdrawal amounts.
March 31: This is it. March is over, which for taxes means you best shed your out like a lamb attitude and get to work on your Form 1040. The IRS recommends we file electronically, which will speed up processing of returns and issuance of any refunds. And millions of taxpayers can do their taxes and e-file for free.
First, there’s the IRS-Free File Alliance partnership, which again offers no-cost online tax preparation and electronic filing to taxpayers whose adjusted gross income (AGI) is $84,000 or less, regardless of filing status at the official IRS.gov Free File website. The same eight software companies that participated last year are back for the 2025 filing season.
If your income is too high, you still can file for free by using Free File's Fillable Forms option.
You also might want to check out IRS Direct File, the IRS’ own free online tax prep and e-filing program if you live in one of the 25 states where the free online tax preparation and e-filing is offered. In addition, Direct File offers more options that apply to more taxpayers’ situations this year.
Small Business Tax Calendar: Important filing, deposit and record keeping dates throughout the year that your company needs to know. The IRS is updating the online version. Until that link is operational, you can get the full year's important business and individual tax dates in IRS Pub. 509.
I sure hope everyone has their taxes finished by now!
Posted by: Tax Relief | Tuesday, April 17, 2012 at 12:08 PM
The tip was very helpful. Thank you
Posted by: Nancy at Scar Treatment | Tuesday, April 10, 2012 at 06:04 PM
Kay: the tips are great - from a personal level and as a student.
Thanks!
~Sarah
Posted by: Online Accounting Degrees | Thursday, April 05, 2012 at 11:54 AM
I check your blog daily for your amazing tax relief tips!
Posted by: Mark Randall | Monday, April 02, 2012 at 05:05 PM
These are really great tax tips. I'll make sure to spread the word around about your very informative blog.
Posted by: estate evaluation | Sunday, March 25, 2012 at 04:39 AM
Great tips. Thanks for sharing =)
Posted by: Julie @ Freedom 48 | Saturday, March 03, 2012 at 07:12 PM
Your tips are very useful. thank you for sharing!
Posted by: abercrombie | Sunday, February 26, 2012 at 09:45 PM
Great tax tips! The post about ways to be organized is great considering it makes tax time much easier.
Posted by: Mark Randall @IRS tax help | Thursday, February 09, 2012 at 12:07 PM
Great tax tip! Another tip for those filing bankruptcy and expected tax returns, is to spend them.
Posted by: Benjamin Skinner | Tuesday, February 07, 2012 at 12:42 PM
Thanks for sharing all this information. Your tips are very useful to me. Keep sharing such high quality posts.
Posted by: Money Tips | Friday, February 03, 2012 at 08:03 AM
Think I need to write that down so I wont forget. Really good tip though this one. The IRS calculater is great.
Posted by: 123dsr | Thursday, February 02, 2012 at 04:14 PM
Steven, thanks! Glad the tax tips are helpful.
Posted by: Kay | Saturday, January 21, 2012 at 03:38 PM
As a fellow tax attorney just wanted to let you know how great a job you are doing at your blog. The daily tax tips are a great service to readers.
Posted by: Steven J Fromm | Saturday, January 21, 2012 at 11:50 AM
Thanks for sharing this great post!
Posted by: Ron @ High School Life | Saturday, January 14, 2012 at 06:37 AM
Kenneth, thank you! Kay
Posted by: Kay Bell | Thursday, January 12, 2012 at 11:01 PM