Frequently Asked Questions

What is new for 2025?

  • One Big Beautiful Bill highlights

    • Deduction for tip income up to $25,000 a year

    • No tax on overtime wages

    • State & local tax (SALT) deduction cap increased to $40,000

    • Starting in 2026, you may only deduct charitable contributions that exceed .5% of AGI.

    • Additional $6,000 deduction for qualifying seniors

    • Some green energy tax credits repealed effective September 30, 2025

    • Certain TJCA tax rates now permanent

    • The child tax credit increased from $2,000 to $2,200 per child

    • The standard deduction increased to $15,750 for single filers and $31,500 for married filers

  • IRS begins phaseout of paper refund checks beginning September 30, 2025

  • What is the due date of my 2025 tax returns?

  • April 15, 2026 & extended due date October 15, 2026

    • Form 1040 individual income tax return

    • Form 1041 trust tax return

    • Form 709 gift tax return

    • Form 1120 C-corporation tax return

  • March 16, 2026 & extended due date September 15, 2026

    • Form 1065 partnership tax return

    • Form 1120 S-corporation tax return

    May 15, 2026 & extended due date November 11, 2026

    • Form 990 and Form 990-EZ nonprofit tax returns (calendar year filers only)

Where shall I go to pay my income taxes and estimated tax payments online?

https://www.irs.gov/payments/direct-pay

https://www.colorado.gov/pacific/tax/income-tax-individual-pay

What is the due date for my quarterly estimated income tax payments for 2026?

For 2024 taxes, the due dates for estimated payments are as follows:

  • 1st quarter = April 15, 2026

  • 2nd quarter = June 15, 2026

  • 3rd quarter = September 15, 2026

  • 4th quarter = January 15, 2027

What is the due date to make a contribution to my retirement account or health savings account for tax year 2025?

April 15, 2026 for the following:

  • Traditional IRAs

  • Roth IRAs

  • HSA’s

  • SEP IRAs and solo 401(k)s for sole proprietors (Schedule C) only

Important! If your business is an S-corporation (Form 1120-S) or a Partnership (Form 1065), the due date is March 16, 2026. If you extended either of these business tax returns, the retirement contributions due date is also extended until September 15, 2025.

How long will it take for me to receive my income tax refund?

Most refunds are sent within about 10 days after we electronically file your income tax returns. Requesting direct deposit into your bank account will help your refund to get there faster and is actually safer than having it mailed. You can check the status of your refund here:

IRS Business Mileage Rates

If you used your automobile for business purposes (not including commuting) you may deduct and 70 cents for mile for 2025 and 72.5 cents per mile for 2026. You must keep a mileage log (an app is fine) to record the date and business purpose for your trip.