Last-Minute Tax Tips for 2025: Don't Miss Out on Savings and Avoid Common Pitfalls

In this episode of PennyWise, host Nat Cardona teams up with tax expert John Kiernan, Managing Editor at WalletHub. John shares essential last-minute tax tips for the 2025 filing season. As the deadline approaches, they emphasize the importance of filing a return regardless of your ability to pay, explaining the significant penalties associated with failing to file. Listeners will learn about the IRS's direct file program and how to utilize free resources for tax assistance, especially for those facing financial challenges.
The conversation also covers strategies for managing tax payments, including the benefits of using credit cards wisely to earn rewards while settling tax obligations. They delve into disaster relief for those in FEMA-designated areas and the advantages available for taxpayers in these situations, such as extended filing deadlines and deductions for personal property losses.

For more insights and resources, check out WalletHub's budgeting features to get your finances in shape.

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Show notes created with assistance from headliner.app