Important August Tax Deadlines for Individuals
While August tends to be a quieter month for individual taxpayers, it’s crucial to remain aware of key deadlines and reminders that can help you avoid penalties, interest, and unnecessary stress.
Key August 2025 Deadlines
August 1, 2025
Last Day to File Late 2024 Tax Returns (with Penalties):
If you missed the previous deadlines in April and July for your 2024 federal tax return, August 1 is your final opportunity to file without incurring additional penalties and interest. We strongly encourage you to file as soon as possible to mitigate your financial liability.
August 15, 2025
Monthly Estimated Tax Payment (if applicable):
For those who make monthly estimated tax payments typically individuals with complex tax situations or substantial non-wage income, please note that your July payment is due on this date.
Throughout August
State and Local Tax Deadlines:
Certain states and local jurisdictions may have specific deadlines for property tax payments, estimated tax payments, or other local tax obligations. We recommend checking with your state’s Department of Revenue for the most accurate information regarding these dates.
Review of IRA and HSA Contributions (for 2025):
While the final deadline for 2025 contributions is next April, August is an excellent time to assess your contributions and consider making mid-year contributions to your IRA or HSA. This can help you maximize your tax benefits.
Other Important Reminders
- Quarterly Estimated Tax Payments:
The next federal quarterly estimated tax payment (Form 1040-ES) is due on September 15, 2025. August is the perfect time to evaluate your income and withholding amounts to help avoid any underpayment penalties. - Back-to-School Tax Credits:
If you have school-aged children, be sure to keep records of any qualified education expenses. You may qualify for various education tax credits or deductions when you file your 2025 return. - Disaster Area Extensions:
If you reside in a federally designated disaster area, you may be eligible for extended deadlines regarding filing and payment obligations. For latest information, please refer to the IRS website.
Tips for Staying Organized
- Set calendar reminders for all upcoming tax-related deadlines.
- Review your tax withholdings and estimated payments to prevent unexpected tax liabilities.
- Organize your receipts and documentation to ensure you capture all potential deductions and credits.
- If you have any questions or require clarification on your specific situation, we highly recommend consulting a tax professional.
If you need assistance with your taxes or strategic planning for the remainder of the year, please don’t hesitate to contact our team for personalized support.
