Saturday, January 25th 2025, 3:10 pm
Filing taxes in Oklahoma for 2025 is underway, with the IRS set to begin accepting federal tax returns on Jan. 27.
Oklahomans have until Tuesday, April 15, 2025, to submit their state and federal tax returns or request an extension.
This year brings updates to tax brackets and free filing resources like the IRS Free File program and the Oklahoma Taxpayer Access Point (OkTAP).
Last year, about two-thirds of taxpayers got a refund, with the average check at about $3,100, according to IRS data.
Whether you’re wondering about deadlines, refunds, or how to file your Oklahoma state taxes, here’s everything you need to know.
The IRS said it will begin accepting tax returns on Jan. 27. However, it also opened its Free File service on Jan. 10. The IRS Free File program, which is offered through tax software companies, is available to taxpayers with adjusted gross income of $84,000 or less in 2024.
Because tax refunds can represent a household's biggest check of the year, many Americans eagerly await their check from the IRS, using it for debt repayment, savings or to make a big purchase.
On Friday, the tax agency said that most refunds are issued in fewer than 21 calendar days. That means someone who files their taxes on Jan. 27 could receive their refund by February 17, if all goes smoothly.
Twenty-four hours after filing their returns electronically, taxpayers can check the status of their 2024 refund on the IRS' Where's My Refund? The IRS said paper returns will take about four weeks to show up on the Where's My Refund app.
According to the Oklahoma Tax Commission, you must file taxes if you answer "Yes" to either one of the following statements:
Taxation in the U.S. is progressive, meaning that tax rates increase as people earn more money. But some people incorrectly believe that their top rate is what they'll pay on all of their income. Instead, the brackets represent the percentage you'll pay in taxes on each portion of your income.
For instance, married taxpayers who file jointly and earn more than $23,850 (the top threshold for the 10% bracket in 2025) could owe $2,385 in federal income tax — or 10% of their first $23,850 in earnings — and then 12% on any income above that amount, up to $96,950. (However, in reality, a couple in these brackets may owe little or get a refund due to the standard deduction as well as other deductions and tax credits.)
The IRS also adjusts the income thresholds for paying various capital gains tax rates for inflation, with low-income and some middle-income taxpayers enjoying a 0% tax rate on sales of stocks or other assets that have appreciated in value.
In 2025, the 0% tax rate will cover individuals who earn up to $48,350 and married couples who earn up to $96,700. Single filers who earn between $48,350 and $533,400 will pay a 15% rate, and those earning above $533,400 will pay 20%.
Married couples who earn between $96,700 to $600,050 will pay 15%, while those earning above the latter figure will pay 20%.
Next year, the federal estate tax exclusion amount, which is the dollar figure for how much in assets can be sheltered from the estate tax, will rise to $13.99 million from $13.61 million in 2024.
And in 2025, people will be able to give others up to $19,000 on a tax-free basis, up from $18,000 this year.
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