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March is the key month of tax season in the United States. If you haven't yet filed your tax year 2025 return, now is the time to act. At La Familia Multiservices, we help you file on time, take advantage of credits and deductions, and avoid unnecessary fines.
What you should know today
- Deadline: April 15, 2026. If you need more time, you can request an extension before that date. Remember: the extension gives you more time to file, not to pay. If you owe taxes, it's a good idea to make an estimated payment to reduce penalties and interest.
- Faster refunds: Filing electronically (e-file) and choosing direct deposit usually results in refunds within 21 days if there are no errors or additional reviews by the IRS.
- Avoid costly fines: the penalty for not filing can be 5% per month of the unpaid balance (up to 25%); for not paying, 0.5% per month (also up to 25%). If you can't afford everything, it's best to submit and make a payment plan.
Statistics that impact you (and how to use them to your advantage)
- More than 90% of individual returns are already filed electronically, according to the IRS. Why does it matter? Because the e-file reduces errors and speeds up reimbursement. At La Familia Multiservices we present and configure your direct deposit electronically so that you receive your money sooner.
- 1 in 5 eligible people does not claim the Earned Income Credit (EITC). This credit can be worth thousands of dollars for low- or moderate-income workers. If you meet the requirements and don't claim it, you leave money on the table. We verify your eligibility at no additional cost when we prepare your return.
- Refund times: The IRS indicates that most refunds for returns filed electronically with direct deposit are issued within 21 days. Therefore, the sooner you present correctly, the sooner you receive.
Key documents to submit without delays
- Income: W-2 (employees), 1099-NEC/1099-MISC (contractors), 1099-INT/1099-DIV (interest/dividends), 1099-B (investment sales), 1099-R (retirement), 1099-G (unemployment).
- Health: 1095-A if you had health insurance from the Marketplace (Obamacare).
- Housing: Form 1098 (mortgage interest), property taxes paid, and if you bought or sold a house, the closing document (Closing Disclosure).
- Education: 1098-T (enrollment), book/material receipts.
- Business/self-employment: income, expenses, vehicle mileage, subscriptions, internet/cell phone used for business.
- Family: SSN/ITIN of all household members, birth certificates if there are newborns, daycare payments with the provider's EIN/SSN.
- Direct deposit: routing number and bank account number (or prepaid card allowed).
Credits and deductions that many forget
- EITC (Earned Income Credit): available for workers with low to moderate incomes. Requires a valid Social Security number for work. If you have an ITIN, you don't qualify for the EITC, but you may qualify for other benefits.
- Child and Dependent Care Tax Credit: If you paid for day care or child care to be able to work or study, this credit can help.
- Education: American Opportunity Credit (part-time or full-time higher education students) and Lifetime Learning Credit (professional development). We review which one is right for you.
- Mortgage interest and state/local taxes: If you itemize deductions (instead of the standard deduction) you could deduct mortgage interest and some state and local taxes, subject to limits.
- Energy efficiency in homes and clean vehicles: Current law provides federal credits for qualified energy improvements and for certain electric or plug-in hybrid vehicles. We help you verify requirements and documentation.
If you are self-employed or have a small business
- Record all your expenses: mileage, equipment, software, advertising, proportional share of the internet/telephone. A lost receipt can mean extra taxes.
- Home office: If you use an exclusive and regular area for your business, you can apply a deduction. We explain the two forms (simplified or regular) and which one is appropriate.
- Estimated taxes: If you have earnings without withholding, you should plan quarterly payments for 2026. This way you avoid surprises and possible fines.
Protect your identity and your refund
- IRS IP PIN: This is a 6-digit number that prevents someone else from filing taxes with your information. You can request it for free from the IRS. Recommended if you have been a victim of identity theft or want extra security.
- Warning signs: unexpected letters from the IRS, rejection of an e-file for “return already filed”, or income forms that you don't recognize. If this happens to you, call us right away.
Can't you afford everything now?
- Present anyway. It's better to present and pay for something than not to present. We can help you apply for a payment plan online with the IRS and explore options to reduce penalties and interest, depending on your case.
How La Familia Multiservices helps you
- Review of credits and deductions so you don't leave money on the table.
- Electronic preparation and direct deposit to accelerate your refund.
- Support with ITIN, corrections (amendments), extensions and payment plans.
- Advice in Spanish, clear and without technicalities.
Schedule your appointment today at www.lafamiliamultiservices.com. The sooner you present, the sooner you receive.
Sources and references
- IRS — Earned Income Tax Credit (EITC): eligibility and general data (including the fact that many eligible people don't claim it)
https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit-eitc
- IRS — Filing Season Statistics (trend: more than 90% of individual returns via e-file)
https://www.irs.gov/statistics/filing-season-statistics
- IRS - Where is my refund? and refund times (21 days for e-file with direct deposit, in most cases)
- IRS - Fines for not filing and not paying
https://www.irs.gov/payments/penalties
- IRS — IP PIN (Identity Protection)
https://www.irs.gov/identity-theft-fraud-scams/get-an-identity-protection-pin-ip-pin
- IRS — Online Payment Plan
https://www.irs.gov/payments/online-payment-agreement-application-opa
- IRS — ITIN (Personal Taxpayer Identification Number)
https://www.irs.gov/individuals/individual-taxpayer-identification-number
Note: The information is general in nature for the United States and may change. Your situation may be different. We recommend a personalized evaluation with our specialists.
