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Tax and bonus season 2025

Tax tips for 2025 mobile size

Filing options

There are several ways to file your taxes, depending on whether you feel comfortable going DIY or hiring an expert. A lot of the decisions depend on whether you’re knowledgeable about filing requirements, your filing status, tax rates, allowed deductions, and tax law changes to do it yourself or if you have available funds to hire someone to do it for you.
Tax software

Tax software

Tax preparation programs can guide you through the filing process, identify deductions and flag errors.
Tax and bonus season - use a CPA

Hire a CPA

If your finances are complex, a Certified Public Accountant (CPA) can offer expertise (at a cost) to navigate the calculations and deductions to ensure you’re filing correctly.
Pen and paper

Pen and paper

You can file your taxes using paper forms downloaded from the IRS website, though you will have to calculate everything manually and have a firm understanding of tax rules.
Tax preparation

Tax preparer

If your tax filing is straightforward, licensed tax preparers and agents can be a cost-effective way to ensure your filing is done correctly.
Tax tip - file for free

File for free

If your income falls below a certain threshold, you can file your federal taxes online for free under the IRS’ Free File Program.

What to gather

  • Your Social Security number
  • Your bank account number and routing number for direct deposits of any refunds.
  • Forms W-2 from your employer(s)
  • Forms 1099 from banks, issuing agencies and other payers including unemployment compensation, dividends, pension, annuity or retirement plan distributions
  • Form 1099-INT if you were paid interest
  • Other income documents and records of digital asset transactions
  • Form 1095-A, Health Insurance Marketplace Statement, to reconcile advance payments or claims Premium Tax Credits for 2022 Marketplace coverage
  • IRS or other agency letters
  • CP01A Notice with your new Identity Protection PIN
  • Records of charitable donations
  • If self-employed full or part-time: income, expense receipts and Form 1099-K, 1099-MISC, W-2 or other income statement
  • Medical expenses
  • Student loan statements, education costs
  • Childcare costs
  • Home improvement expenses
  • Other income such as alimony, rental property, gambling, contest or lottery winnings
  • Records of any quarterly payments.

Be tax savvy