2025 Year-End Tax Planning Checklist

September 08, 2025

Time to Read: 3 minutes

As we find ourselves in a new legislative landscape, notably with the One Big Beautiful Bill Act (OBBBA), you should evaluate your wealth plan to make sure it accurately reflects your current situation and is keeping you on track to meet your goals. Our 2025 Tax Checklist has a comprehensive list of strategies worth considering with your wealth management team, so you can ensure everything is set in place before the December 31 deadline. To gain greater clarity into the most important considerations of this year, click here. Please note that this file was updated on September 25, 2025. Please ensure the most recent version is used.

New IRS Guidance on Tax Payments

On March 25, 2025, Executive Order 14247, Modernizing Payments To and From America’s Bank Account, was issued, outlining that the federal government will stop sending paper checks to taxpayers for all disbursements, including payments, benefits and tax refunds. The IRS has extended the original September 30th, 2025 deadline to 2026, allowing taxpayers to continue using existing payment methods until further notice, including check payments via U.S. Mail.

What to consider:

Reach out to your relationship team to discuss the new guidance.
Open and utilize a BNY Wealth checking account that you can use to make electronic payments directly to the IRS.
Pay directly from your bank account using options like Direct Pay on the IRS website, Electronic Funds Withdrawal through commercial software such as TurboTax or TaxAct, or via your tax professional if you are filing with one.

Next steps:

Executive Order 14247 also applies to payments made to the IRS. Taxpayers should continue to use existing payment options until further notice. Additional guidance and information for filing 2025 taxes will be issued prior to the 2026 filing season.

The IRS will share updated guidance on IRS.gov and through outreach efforts nationwide.

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