Show Notes
Episode Title: Tax Season is Open! What You Need to Know for 2025 Description: The IRS has officially opened the 2025 tax filing season! Millions of returns are already in, and the deadline is April 15th. We break down key dates, free filing options, and how to avoid scams. Get your taxes done right this year! Show Notes: The 2025 tax filing season is officially open as of January 27, 2025. The IRS expects over 140 million individual tax returns for tax year 2024. The filing deadline is April 15th. Free Filing Options: IRS Free File (for those with income of $84,000 or less) IRS Direct File (available in 25 participating states) Volunteer Income Tax Assistance (VITA) Tax Counseling for the Elderly (TCE) MilTax (for military members and some veterans) Key Tips: File electronically and choose direct deposit for faster refunds. Wait for all income documents before filing. Use a trusted tax professional. Be aware of tax scams. New IRS Improvements: Enhanced IRS Online Account features. New scam alert banner on the Online Account. Redesigned notices. Mobile-adaptive tax forms. Virtual assistants for refund and other questions. Refunds: Most refunds issued in less than 21 days, but don't rely on a specific date. EITC/ACTC refunds may be delayed until after mid-February.
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More from IRS In Audio
IRS Reminder for Oct. 15 Filing Deadline (IR-2025-104) Date: Oct 14, 2025. Applies to tax year 2024 returns for those who filed extensions. Deadline: Oct 15 (midnight). IRS urges e-filing and electronic payments; paper filers can use Form 1040 and instructions for mailing addresses. Government shutdown note: Filing and payment obligations remain in effect; IRS will accept/process payments by mail or electronically. Possible extensions:
IRS Inflation Adjustments for Tax Year 2026 (IR-2025-103) Applies to 2026 returns filed in 2027; detailed in Revenue Procedure 2025-32. Standard deduction (2026): $32,200 MFJ; $16,100 Single/MFS; $24,150 HOH. Note: OBBB set 2025 SD at $31,500 MFJ; $15,750 Single/MFS; $23,625 HOH. Marginal brackets (Single; MFJ): 37% over $640,600; $768,700. 35% over $256,225; $512,450. 32% over $201,775; $403,550. 24% over $105,700; $211,400. 22% over $50,400; $100,800. 12% over $12,400; $24,800. 10% up to $12,400; $24,800. AMT exemption (2026): $90,100 Single (phaseout starts $500,000); $140,200 MFJ (phaseout starts $1,000,000). Estate tax exclusion: $15,000,000 (up from $13,990,000 in 2025). Adoption credit: Up to $17,670; up to $5,120 refundable. Employer-provided childcare credit (for employers): Max increased to $500,000 ($600,000 for eligible small businesses) under OBBB. Other indexed items: Unindexed items:
Treasury/IRS Penalty Relief for Remittance Transfer Providers (IR-2025-102) Date: Oct 7, 2025. IRS issues Notice 2025-55 granting limited deposit penalty relief for the first three quarters of 2026 related to the new remittance transfer excise tax under the One, Big, Beautiful Bill (OBBB). Relief conditions: Providers avoid deposit penalties if they make timely deposits (even if miscalculated) and pay any underpayment by the Form 720 due date for that quarter. Safe harbor: Providers may use excise tax deposit safe harbor rules for Q1–Q3 2026 despite underpayments, but must meet the reasonable cause standard. Tax details: Starting Jan 1, 2026, providers must collect a 1% tax on certain remittances made with cash, money orders, cashier’s checks, or similar instruments; make semimonthly deposits; and file quarterly returns. First deposit due Jan 29, 2026. More info: See Notice 2025-55 and Form 720 guidance.
Jarod Koopman to Lead IRS Enforcement (Acting CTCO) Jarod Koopman named Acting Chief Tax Compliance Officer, overseeing enforcement divisions: LBI, SB/SE, TE/GE, Criminal Investigation (CI), Office of Professional Responsibility, Return Preparer Office, and Whistleblower Office. Background: CI executive since 2016; built Cyber Crimes and Cyber and Forensics Services; led IRS-CI’s growth in crypto tracing and dark web investigations. Field leadership: Former ASAC in Chicago and SAC in Detroit; managed sensitive, high-profile cases in MI and IL. Earlier roles: Supervisory Special Agent (W.D.N.Y.), Senior Analyst at IRS HQ (ASLP graduate), worked on identity theft as a national priority in 2012. Bio: Upstate NY native; Nazareth University graduate; FLETC and IRS-CI training top graduate. Additional leadership move: Stewart Pearlman to serve as acting Deputy Chief in CTCO; prior roles include acting Deputy COO, ACA IT team lead, CIO Chief of Staff, and Procurement Chief of Staff (2019–2025).
IRS Appeals Launches Post Appeals Mediation (PAM) Pilot The IRS Independent Office of Appeals launched a two-year pilot to make PAM more attractive to taxpayers. Under the pilot, mediation cases are reassigned to an Appeals team not connected to the original case to provide a fresh, expedited look; other PAM features remain unchanged. PAM occurs after an unsuccessful Appeals process and typically lasts one day, with a neutral Appeals mediator; taxpayers may add a co-mediator at their expense. Goal: enhance ADR offerings, improve taxpayer experience, and encourage faster, mutually acceptable resolutions before potential litigation. Appeals also promotes broader use of its five ADR programs: Fast Track Settlement, Fast Track Mediation—Collection, PAM, Rapid Appeals Process, and Early Referral. Contact for questions: [email protected].