Taxes are due April 15, but it doesn’t pay to procrastinate, especially with several changes to the tax law for 2025. Miguel Burgos, CPA and TurboTax expert, offers some help on how to get organized and avoid mistakes so you can file on time and collect that refund as soon as possible. Watch the video above or read the full transcript below.
Video transcript:
TRACY BYRNES: Well, tax season is upon us, even though many of us are dreading it as we do every year. And so just add a little glitz. This year we have the one big beautiful Bill act. Throw in some extra questions and complications. Thank God Miguel Burgos, CPA and TurboTax expert, is here with us today to help us figure it all out.
So, Miguel, everything is complicated, it feels this year, and therefore it creates inertia. People don’t even know where to begin. And while many things are good and people may get more money back this year, we still don’t know where to start. So what do we do?
MIGUEL BURGOS: Well, some tips to make sure that you can start your taxes and finish your taxes on time. First of all, start as early as possible. Although it’s true that we have until Wednesday, April 15th of 2026 of our taxes, we don’t have to wait, or we should not wait until then to start the filing process. Give yourself time.
Gather your personal information. Also, gather tax documents and be able to determine what are the tax options to file your taxes this year and determine which one is the best fit for you as a taxpayer.
TRACY BYRNES: Yeah, those are great tips. Let’s dive into them now. OK, so you say personal documents. What is that that I gotta go find. Because my guess is it’s going to take a minute.
MIGUEL BURGOS: Well, one of the things that the IRS will do as soon as they get their tax, your tax return, is that they’re going to match the personal information with the records. So you want to make sure that you get your full name, date of birth for you and your dependents. Also, tax identification numbers that can include Social Security number or ITIN number.
And on top of that, also things like your address, you’ve got to make sure that these are accurate, to make sure that they match the IRS records and that your return doesn’t get rejected and your refund doesn’t get delayed more than what is needed.
TRACY BYRNES: Yeah, that’s actually an interesting point. If I moved during the year, we that change of address form needs to be filed as well, right?
MIGUEL BURGOS: Typically you want to make sure that you present in the tax return an address where the IRS can potentially get back to you through a letter if they need to. So you want to make sure that whatever address you’re using on the tax return will be one where you got you will receive any potential letter or inquiry from the IRS in case they need to communicate with you in the future.
TRACY BYRNES: Yeah. So that’s—really if you do use a tax preparer, that’s very something very important. And you should let them know. Now let’s move on to my tax documents. They’re starting to come in the mail. Fast and furious. Although on some level they’re also coming via email. So how do I keep track of all this? What do I do?
MIGUEL BURGOS: Well, basically we have we have multiple categories of tax documents. But let’s let’s talk about the main three tax documents related to your income. That can be your W-2, multiple types of 1099s for interest, dividends, investments—like 1099 B, self-employment income, any sort of financial statements if you are self-employed, also related to your deductions and credits.
And this year we want to we want to place a special emphasis on the deduction documents and information. The reason being is we know that the recent tax law brings at least four new deductions on Schedule one: a deduction for no tax on tips, no tax on overtime, no tax on vehicle loan interest, and also an enhanced deduction for seniors. In the case of the first two, because the IRS is considering this year a transitional year is not requiring some of the employers to provide the break-out of the information they did. They, the taxpayer, will need to claim no tax on tips and no tax on overtime. So this may require a little bit more of initiative from the taxpayer to gather this accommodation. Use forms like, for example, the IRS form 4137 to be able to determine how much tips they receive or how much overtime they were paid, and then accurately calculate that deduction and claim it on their tax return.
TRACY BYRNES: I think that’s a valid point. Like this is, well, it’s great. And you’re going to get deductions for tips and overtime. There might be an extra calculation or two in there that you’re going to need to figure out, because it’s not going to be straightforward and obvious. Again, something that everyone needs to either bring to their advisor or be patient with.
And to that point, how do I decide how I want to get my tax return done? I mean, there was a day where we did it with pencil and paper, but that’s long gone. Thank God. So so what are my options?
MIGUEL BURGOS: Yes, and these are the reasons why we always recommend as tax professional start as early as possible. Nowadays, with technology, taxpayers can decide what’s the best fit for me this year. Do I want to file myself? Do I want to file my taxes with the assistance of an expert, or do I want to have someone prepare my taxes for me?
And do I want to do online, or do I want to do it in person? And I’ll give you an example. Now, TurboTax is is offering the option to do either one either online or, with, nearly 600 local offices and 20 stores across the nation, taxpayers have the ability to choose if they want to do a DIY, do it with me, or do it for me online or in person.
Or perhaps they can even start online and then seamlessly transition into an in-person experience so they can determine what’s the best for me and what changes in taxes this year they may have. They may need additional documentation. They may have additional questions, because it’s also important not just to get it done and file your taxes and get your refund, but it’s also important to make informed decisions and understand what’s going on with your taxes, the why behind the deduction
So that way, you will be able to take control of your taxes and also take control over your overall, financial situation.
TRACY BYRNES: It’s super great advice. And to that point, though, do not show up in a preparer’s office on April 14th and expect your tax return to be done. So think about this early. Like Miguel said in the opening of this video. Miguel Burgos is CPA and TurboTax expert. Thank you so much for breaking that all down.
MIGUEL BURGOS: Oh, it’s always a pleasure.
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