Essential Tax Deadlines for December 2025

December is a crucial month for closing out your financial year with optimal tax strategies. Key concerns include year-end tax planning, reporting tips, managing IRA withdrawals, and finalizing deductible payments for 2025.

December 1 - Initiate Year-End Tax Planning

Start your year-end tax strategies now to maximize your 2025 tax return options. Significant income fluctuations, changes in marital status or dependent claims, and property sales should prompt immediate tax consultations.

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December 10 - Deadline for Reporting Tips

If you received over $20 in tips during November, report them to your employer using IRS Form 4070 by December 10. Employers are responsible for withholding FICA and income taxes on these tips. Any uncollected withholdings due to insufficient wages will reflect in box 8 of your W-2 and will need settling when you file your tax return.

December 31 - Final Date for Mandatory IRA Withdrawals

If you were born before January 1, 1952, this is the last day to make mandatory IRA withdrawals without penalties. Those turning 73 in 2025 can defer their first required distribution until April 1, 2026, but be vigilant about institutional closing times. Image 2

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December 31 - Cut-off for 2025 Deductible Expenses

This is the final day to settle deductible expenses for your 2025 tax filings (excludes IRA, SEP, or Keogh contributions, which can be adjusted post-December 31, 2025). Consider earlier actions if your transactions necessitate financial institutions that may be closed on the deadline.

Weekend and Holiday Extensions

Be aware that if a deadline coincides with a weekend or legal holiday, it will automatically extend to the next business day.

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Disaster Area Extensions

For areas marked as disaster zones, filing extensions apply. Confirm current disaster declarations and extensions through FEMA and IRS websites.

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