Tax Season Best Practices
New year, new goals… same old tax deadlines!
Tax season is officially here. While it may not be the most exciting time of year, it is one of the most important. Whether you are an employee, business owner, investor, or somewhere in between, taxes are something we all must stay compliant with regardless of income.
The good news is that a little preparation goes a long way.
Below are key deadlines, best practices, and common mistakes to avoid so this tax season is smooth and stress free.
Key Tax Deadlines You Need to Know
W-2s and 1099s
- January 31st is the deadline for employers to issue W-2s and 1099s
- By early February, you should have a clear snapshot of your total 2025 income
- Business owners must issue all W-2s and 1099s by the end of January
If you are missing documents after January 31st, follow up immediately. Waiting only delays your filing and limits planning opportunities.
Partnerships and S-Corporations
- Filing deadline is March 16th
- Required even if your business had no activity or a loss
- Failure to file can result in a $245 penalty per month per partner or shareholder
This is one of the most common and expensive mistakes I see every year. Your business return must be filed before your personal return so K-1s are issued on time.
Individual Tax Returns and C-Corporations
- Filing deadline is April 15th
- Applies to rental property owners, single member LLCs, independent contractors, and W-2 employees
Several tax changes passed in July 2025 may impact your refund or balance due. If you earned overtime, tips, purchased a new vehicle, or have dependents, your tax outcome may look different this year.
Across my client base, many taxpayers are seeing slightly larger refunds due to expanded deductions and increased child tax credits. Every situation is different, so professional guidance matters.
Best Practices for a Stress Free Tax Season
- Start gathering documents as soon as possible
- Do not wait until March to contact your tax professional
- Filing early gives you time to reduce your tax bill if you owe
- Extensions give you more time to file, not more time to pay
Tax season moves fast. Many firms stop accepting new returns toward the end of March, so getting ahead gives you flexibility instead of pressure.
Common Tax Season Mistakes
- Waiting on one missing document before starting
- Forgetting to file inactive business returns
- Assuming an extension delays tax payments
- Filing complex returns without professional help
If your tax situation is simple, filing on your own can be fine. If you own a business, invest, or took large retirement distributions, working with a professional can prevent costly errors.
How Wiggs CPA Tax and Accounting Can Help
At Wiggs CPA Tax and Accounting, we specialize in proactive tax planning for service based business owners.
During tax season, we also help:
- Real estate investors
- Entrepreneurs and startup owners
- Independent contractors
- Individuals needing accurate and timely filings
Even though the year is over, there are still strategies that can be implemented between now and April 15th to reduce your tax bill.
If you are looking for guidance from a certified tax professional, do not hesitate to reach out. We are one call away.
Subscribers will also receive details about our upcoming Tax Season Best Practices Webinar on January 20, 2026.
Stay Connected
- Follow @WiggsCPA for tax tips, LLC best practices, and updates
- Visit WiggsCPA.com to ask a question or schedule your consultation
At Wiggs CPA Tax and Accounting, we help you stay organized, informed, and prepared.
Thanks for reading and see you in the next blog post!
