Filing resources before April 15; options for those who owe; faster refund tips
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Issue Number: 2025-06Inside This Issue
Free File provides quick and easy way to file tax returnsAs the April 15 tax deadline nears, the IRS reminds taxpayers with business income that IRS Free File is a quick and easy way to file federal tax returns for free using guided tax preparation software available only at IRS.gov. IRS Free File lets qualified taxpayers get free tax preparation, electronic filing and direct deposit of their federal tax refund, if they’re owed one. How to file when documents are incorrect or missingSmall businesses should make sure they have all their documents before filing a federal tax return. Those who haven't received a Form 1099 should contact the payer or issuing agency to request the missing or corrected documents. If a taxpayer doesn't receive the missing or corrected form in time to file their tax return, they can estimate the wages or payments made to them, as well as any taxes withheld. If they receive the missing or corrected forms after filing their tax return and the information differs from their estimate, they must file an amended return. How to get tax transcripts for previous tax yearsIf a business can't get a copy of a prior year federal tax return, they can access certain transcripts online from the IRS Business Tax Account. A tax return transcript shows most line items from the original tax return. It doesn’t show documents or statements attached to the original return. Businesses can access their tax records in several ways. Those records are useful and can help with future tax filings. Reminder to those who owe: Payment plan options are availableTaxpayers don’t need to wait until April 15 to file their 2024 federal return, and if they owe and are unable to pay in full, there are payment plans available to help. Taxpayers who cannot pay their full balance should file and pay as much as they can on or before April 15 to minimize late payment penalties and interest. Also, filing on time avoids the late filing penalty. See the payment options news release for penalty and interest amounts, where to find payment options and tips on avoiding scams. Follow key filing guidelines to speed up refunds and avoid errorsThese IRS tips and reminders help speed taxpayer refunds and avoid errors on federal tax returns:
IRS reminder to U.S. taxpayers living, working abroad: File 2024 tax return by June 16Taxpayers living and working abroad have until June 16, 2025, to file their 2024 federal income tax return and pay any tax due. This deadline applies to both U.S. citizens and resident aliens abroad, including those with dual citizenship. Taxpayers should note that this extension is not an extension of time to pay. Interest will begin accruing after April 15. Taxpayers living and working abroad should be aware of:
Other tax newsThis topic may be of interest to small businesses, their employees and community partners:
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