Accounting Simplified

Quarterly Estimated Tax Payments - Reminder

If you are making quarterly estimated tax payments to the IRS, the due date for the June 1st - August 31st, 2025 quarter of year is today, September 15th, 2025.

For payments made using IRS Direct Pay, you can make payments until 11:45PM EST, and for payments using a credit or debit card, payments can be made up to midnight on the due date.

Multiple Home Energy Credits to Expire at the End of 2025 – Did You Know?

Currently, the IRS offers homeowners a variety of tax credits related to energy efficiency and clean energy production and use. For example, the Energy Efficient Home Improvement Credit reimburses qualifying homeowners for a portion of the cost of certain high-efficiency heating and cooling (HVAC) systems, as well as the cost of insulation, doors and windows that reduce energy use. Meanwhile, home improvements that generate or use alternative energy, such as installing solar panels or a solar-powered water heater, may qualify for the Residential Clean Energy Credit.

Under the recently enacted One Big Beautiful Bill Act (OBBBA), these two credits will expire on December 31, 2025. Therefore, many energy-related home improvements made in 2026 or later will not qualify for federal tax benefits. A tax professional can help you determine whether any of your planned home improvements qualify for home energy credits, so you can prioritize eligible projects for the remainder of 2025.

Workplace Educational Assistance Programs and Student Loans

The IRS recently issued a reminder that employers may continue to use workplace educational assistance programs to help employees repay student loans through December 31, 2025. In general, employers may provide up to $5,250 of assistance per year to employees for qualifying education expenses, without those funds counting as taxable wages. In other words, employees may exclude the assistance from their reported gross income.

Traditionally, workplace educational assistance programs only cover current education expenses, such as tuition, books, and certain other required fees and course materials. However, a temporary provision currently in effect allows the programs to also cover repayment of qualifying student loans. This special provision will expire at the end of 2025, so those who wish to use tax-free educational assistance to repay loans should do so before January 1.