Tax Season Reference Guide
Key Deadlines, Forms, and Considerations for the 2025 Tax Year
As tax season approaches, we often hear similar questions from clients each year—when tax forms arrive, which deadlines matter most, and what special situations to be aware of. Tax administration processes continue to evolve, and this guide highlights several common deadlines, forms, and procedural changes you may encounter as you prepare your 2025 tax return.
IRA and Roth IRA Contribution Deadline
The deadline to make 2025 contributions to an IRA or Roth IRA is April 15, 2026.
If you are considering making a contribution for the 2025 tax year, please reach out no later than April 1, 2026 to allow sufficient time for processing.
When Will I Receive My Tax Forms?
Waverly Advisors, LLC does not prepare or distribute tax forms. These forms are issued directly by your custodians and other reporting entities.
You may log in to your custodian’s website to check the availability of your tax documents and to confirm online access is set up for convenience.
Common Tax Form Mailing Deadlines
Tax forms are released on different schedules. Below are some of the most common deadlines to be aware of.
Forms That Should Have Been Mailed by January 31, 2026
- W-2, Wage and Tax Statement
- SSA-1099, Social Security
- 1099-INT, Interest Income
- 1099-DIV, Dividends and Distributions
- 1099-R, Retirement account and pension distributions
- 1099-NEC, Nonemployee Compensation
- 1099-MISC (when boxes 8 or 10 are not used)
- 1099-G, Certain Government Payments
- 1099-Q, Qualified Education Program Distributions
- 1099-SA, HSA and MSA Distributions
- 1095-A, 1095-B, and 1095-C (health coverage forms)
- 1098 and 1098-T (mortgage interest and tuition statements)
Forms Typically Mailed by February 15, 2026
- 1099-B, Proceeds from Broker Transactions
- Consolidated 1099 statements
- 1099-S, Proceeds from Real Estate Transactions
- 1099-MISC (when boxes 8 or 10 are used)
Forms Typically Mailed by May 31, 2026
- Form 5498, IRA Contribution Information
- Issued only if you made a contribution to an IRA, SEP, SIMPLE, or Roth IRA
- This form should be provided to your tax preparer to confirm contributions were applied to the correct tax year
For additional details, see:
General Instructions for Certain Information Returns (2025) | Internal Revenue Service
Amended or Corrected 1099 Forms
Custodians may issue corrected or amended 1099 forms, often due to reclassification of income (for example, dividends initially reported as ordinary income that are later deemed qualified).
This is not uncommon and is typically not a custodian error. If you have received amended 1099s in the past, it may be helpful to inform your tax preparer and allow flexibility before filing your final return.
K-1 Forms (Partnerships, Trusts, and S Corporations)
K-1 forms are commonly associated with partnerships, trusts, estates, and S corporations. While they are generally expected by mid-March, they are frequently delayed.
Many entities file extensions, which may result in K-1s being issued later in the year—sometimes as late as September. If K-1s are delayed, you may also need to file an extension for your personal return.
Social Security Tax Forms
If you receive Social Security benefits, your SSA-1099 (Social Security Benefit Statement) can be viewed or downloaded directly from the Social Security Administration website: https://www.ssa.gov/manage-benefits/get-tax-form-10991042s
Qualified Charitable Distributions (QCDs)
If you made a Qualified Charitable Distribution (QCD) from your IRA:
- These distributions are not separately reported as QCDs on tax forms
- The distribution may appear taxable unless properly reported on your return
You will need to inform your tax preparer of any QCDs and provide supporting documentation, including confirmation from the receiving charity.
IRS Tax Payment Processing Updates
The Internal Revenue Service (IRS) continues to modernize its tax payment systems, including a transition away from paper check processing in favor of secure electronic payment methods.
As part of this shift, tax payments due with your 2025 tax return and any future estimated tax payments will generally need to be submitted electronically through IRS-approved platforms or through your tax professional’s software. Paper check payments are being phased out as part of this broader IRS initiative and may no longer be accepted in many situations.
This change applies broadly to federal tax payments and is not limited to any specific type of taxpayer. Individuals, businesses, trusts, and estates are all affected.
If you have previously relied on mailing paper checks for federal tax payments, the IRS strongly encourages taxpayers make payments electronically going forward. Electronic options include:
- Payments submitted through your accountant’s tax preparation software
- An approved electronic payment method per the IRS website www.irs.gov/payments
In addition, Executive Order 14247 mandated that the Treasury would no longer issue paper checks as of September 30, 2025, with few exceptions. Electronic refunds will be issued by direct deposit into a bank account, payments via certain mobile apps, or prepaid debit cards. If electronic payment information is not provided when filing the tax return, the tax return will be processed, but the refund will be delayed. In this situation, the IRS will first mail a letter and then a CP53E notice to the taxpayer, which will request their electronic payment information or explanation why this information cannot be provided. Once the response is processed, the IRS will release the refund. If no response is received and there are no issues with the tax return, it is anticipated that the refund would be issued via paper check after six weeks.
Planning ahead and discussing payment logistics with your tax preparer in advance can help ensure payments are submitted accurately and on time, and refunds are not delayed as tax deadlines approach.
Record Retention
A common question during tax season is how long records should be kept. The IRS provides general guidance based on the type of information reported and the activity involved.
IRS guidance on document retention can be found here: https://www.irs.gov/businesses/small-businesses-self-employed/how-long-should-i-keep-records
Maintaining organized records may be helpful in the event of amendments, audits, or future planning needs.
Final Notes
Tax season involves many moving parts, particularly when multiple accounts, entities, or special situations are involved. This guide is intended to provide general awareness and help you stay organized as information becomes available.
If you have questions about how these items relate to your broader financial picture, we are happy to discuss them in the context of your overall planning.
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