Tax season is approaching, and a little preparation now can help you file accurately, avoid delays, and feel more confident when your refund arrives. The IRS encourages taxpayers to start planning early to reduce errors and stay ahead of recent tax law changes (IRS). Stone Bank is here to support you as you get organized.
Key Updates for 2025
The One, Big, Beautiful Bill includes several new rules for taxpayers, including no tax on tips, overtime or car loan interest, a new deduction for seniors and several updated credits (IRS). Visit IRS.gov for the latest information.
Some taxpayers will also receive a Form 1099-K in January 2026 if they collected more than 20,000 dollars in payments for goods or services in over 200 transactions during 2025. All income remains taxable whether a 1099-K is issued or not. Good recordkeeping is essential (IRS).
Life Changes and Tax Credits
Major life events such as getting married, buying a home, having a child or starting college may affect filing status and credit eligibility. For 2025, the Child Tax Credit is worth up to 2,200 dollars per qualifying child and the Earned Income Tax Credit is worth up to 649 dollars for eligible taxpayers with no qualifying children (IRS).
Refund Timing and Direct Deposit
Most refunds are issued in less than 21 days, but some can take longer due to identity checks, errors or credits such as the EITC or ACTC. The IRS began phasing out paper refund checks in late 2025. Direct deposit is now the preferred refund method and is the fastest and safest way to receive funds (IRS). Stone Bank customers can easily access routing and account numbers through online banking.
Withholding and Estimated Payments
If last year’s tax bill or refund was larger than expected, consider adjusting your withholding. The IRS recommends using the Tax Withholding Estimator to determine if a new Form W-4 is needed. Individuals with significant non-wage income may need to make estimated tax payments (IRS).
Simple Steps to Make Filing Easier
- Create or access your IRS online account for tax documents, notices and refund updates.
- Gather all W-2s, 1099s and other income records before filing.
- Check your ITIN status if you use one.
- Consider enrolling in an Identity Protection PIN to help secure your information (IRS).
Stone Bank Can Help
Tax time can feel complicated, but you do not have to navigate it alone. Stone Bank is here with secure account options for direct deposit, digital banking tools and a team ready to answer questions. If you need help preparing your finances for tax season, contact your local Stone Bank branch.
This information is for general education purposes only and not to be used as tax or legal advice. The opinions and recommendations expressed herein are those of the author(s) and not necessarily those of Stone Bank. Stone Bank’s website may contain links to websites of other organizations that are no longer protected by our privacy policy or security practices. Stone Bank nor any of their employees assume any legal liability for the accuracy, completeness, or usefulness of this information.