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Key Tax Deadlines for Individuals: What You Need to Know for July 2025

Understanding and adhering to key tax deadlines is critical for avoiding penalties and optimizing your tax liabilities. Here's a detailed look at the individual due dates for July 2025, including a reminder for a mid-year tax review and the deadline for reporting June tips.

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July 1 - Conduct a Mid-Year Tax Checkup

Ensure your financial strategies are on track by reviewing your 2025 year-to-date income and expenses. This mid-year evaluation is essential to verify that your estimated tax payments and withholdings are sufficient to prevent underpayment penalties. Adjust your financial plan as necessary to stay compliant and financially sound.

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July 10 - Tip Reporting for Employees

If you're an employee earning tips, it's mandatory to report any tips over $20 received in June to your employer via IRS Form 4070 by July 10. Employers are responsible for withholding applicable FICA taxes and income tax withholding from your wages based on these tips. In cases where wages aren’t sufficient, the uncollected tax will be noted in box 8 of your W-2, and you will need to cover it upon filing your annual return.

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Considerations for Weekends & Holidays:
If any due date lands on a weekend or a legal holiday, it automatically extends to the next business day that isn't a holiday. Utilize this time wisely to safeguard your tax interests.

Extensions for Disaster Areas:
In circumstances where the IRS designates an area as a disaster zone, filing deadlines are extended. Verify eligibility for extensions by checking the latest updates through these resources:
FEMA: https://www.fema.gov/disaster/declarations
IRS: https://www.irs.gov/newsroom/tax-relief-in-disaster-situations

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