Protax Consulting Services Inc. ("Protax") your Global Mobility Tax Services leader is now actively engaged in the 2025 U.S. income tax season.  We are at the beginning of our most robust and busiest tax season ever in our history and we look forward to serving you for the upcoming 2025 U.S income tax season.

The tax reform 2017 Tax Cuts and Jobs Act (TCJA) passed December 22, 2017 and it’s successor the 2025 One Big Beautiful Bill Act (OBBBA) passed July 4, 2025 in part to make permanent many of the provisions of the TCJA 2017 that were due to sunset on January 1, 2026.

If you're not ready to file your 2025 tax return by April 15, requesting an extension may provide valuable breathing room. For some taxpayers, extra time can help ensure their return is accurate and strategically prepared. But extensions also come with important rules and potential drawbacks. Here's what to consider before deciding whether to extend your return.

The 2025 Form 1040 includes more than just routine updates. Under the One Big Beautiful Bill Act, taxpayers may qualify for new deductions, a larger cap on itemized deductions for state and local taxes, expanded education benefits, and changes to key credits. Here's what individual filers need to know.

Generally, each year you can contribute up to the annual limit to a traditional or Roth IRA (or a combination of the two). But once the contribution deadline has passed, the opportunity to contribute for that year is lost forever. The deadline for 2025 IRA contributions is April 15, 2026. You may be eligible to deduct all or part of your IRA contribution and save taxes on your 2025 return. But even if you can’t claim a deduction, contributing can still be beneficial.