Information courtesy of https://turbotax.intuit.com/

This marks when the IRS will begin accepting and processing 2025 federal tax returns. 

If you chose to claim an exemption from your employer withholding taxes from your paycheck last year by filing a Form W-4, you’ll need to re-file the form by this date. You would file this exemption request if you anticipate having no tax liability this year and had none in the previous year.   

 The tax deadline typically falls on April 15 each year, but can be delayed if it falls on a weekend or holiday. Missing the tax deadline can have consequences like penalties and interest. 

 Despite the IRS referring to these payments as quarterly estimated taxes, the due dates don’t necessarily fall within “quarters” nor do they each represent three months of tax payments. They represent an equal quarterly share of your estimated income tax liability paid at uneven intervals. The first payment occurs 3 and a half months into the year. The second payment is five and a half months; the third payment is eight and a half months, and the fourth payment is due 12 and a half months after the year starts. 

  Third quarter 2026 estimated tax payment due 

Deadline to file your extended 2025 tax return 

Tax Rate - Taxable Income 

10% - Up to $11,925

12% - $11,926 to $48,475 

22% - $48,476 to $103,350

24% - $103,351 to $197,300

32% - $197,301 to $250,525

35% - $250,526 to $626,350

37% - Over $626,350

Tax Rate - Taxable Income

10% - Up to $23,850

12% - $23,851 to $96,950

22% - $96,951 to $206,700

24% - $206,701 to $394,600

32% - $394,601to $501,050

35% - $501,051 to $751,600

37% - Over $751,600

 The tax rate on short-term capitals gains (i.e., from the sale of assets held for one year or less) is the same as the rate you pay on wages and other "ordinary" income. Those rates currently range from 10% to 37%, depending on your taxable income.

401(k) limit increases to $23,500 for 2025

 Stays $7,000

 The annual federal gift tax exclusion allows you to give away up to $17,000 each in 2025 to as many people as you wish without those gifts counting against your $13.61 million lifetime exemption.