Tax Season + Real Estate: 6 Things to Do Now So April Doesn’t Punch You in the Face

If you’ve ever waited until March to deal with taxes… welcome. You’re in good company.

But the IRS is basically waving a giant flag right now saying: this year is worth prepping early because filing options and refund delivery are changing.

And since real estate loves paperwork like my dog loves rolling in something questionable, this matters even more if you’re buying, selling, or moving money around this year.

I’m not your CPA (and this is not tax advice). I am the person who wants you to avoid a last-minute scramble that delays your plans.

Here’s what I’d do now.

1) Make sure you can receive refunds by direct deposit

The IRS says it’s phasing out paper refund checks, and they’re encouraging people to set up a bank account so refunds can go by direct deposit.

Why you should care (real estate edition):

• If you’re using a tax refund to help with moving costs, furnishings, repairs, or padding savings, delays are annoying.

• If you’re trying to buy, lenders want to see clean, trackable money movement. Direct deposit is… way cleaner than “my paper check is somewhere.”

Do now: Confirm your bank info is current, and avoid using random accounts that you barely touch.

2) Gather the “home stuff” documents while you can still find them

If you bought or sold recently, or you’re about to, keep a simple folder (digital is fine) with:

• Closing disclosure / settlement statement

• Any receipts for major improvements (roof, HVAC, etc.)

• Mortgage statements (if applicable)

• Property tax documents

• Rental-related income/expense info if you have an investment property

Again: your tax pro tells you what matters and why. Your job is just making sure you’re not digging through email on April 14.

3) Review what changed for the 2025 return (yes, already)

The IRS is telling people to review 2025 tax law changes because there are new deductions/credits and updates that could affect how much you owe or get back.

If you’re buying this year, that matters because:

• Your budget is not just “mortgage + insurance.” It’s also “how surprised am I by taxes this year?”

• If your refund is smaller than you expect (or you owe), that can change your comfort level around cash reserves.

Do now: Put a quick “CPA check-in” on your calendar. Not a panic meeting — a “hey what should I expect” call.

4) If you touched crypto, NFTs, or “digital assets,” don’t pretend it didn’t happen

The IRS specifically calls out digital assets reporting: buying, selling, or receiving crypto/NFTs and other digital assets may need to be reported, even if you didn’t get paperwork from a broker.

Also: income from payment apps / online marketplaces can be taxable, and some folks may receive a 1099-K depending on thresholds.

Why it matters for buying/selling:

• Underwriters do not love mystery deposits.

• If you’re using funds connected to side income, online sales, or anything “digital,” keep good records and be ready to explain it.

Do now: Download transaction summaries while platforms still make it easy.

5) Parents: learn what these new “Trump accounts” are before you ignore them

The article mentions “Trump accounts” — a new type of savings vehicle for children with valid Social Security numbers, including a possible one-time $1,000 government contribution for eligible kids born between January 1, 2025 and December 31, 2028.

I’m not here to debate names or politics. I’m here to say: if you’re budgeting for a move, childcare, or a first home in a couple years, any new savings option is worth asking your CPA/financial advisor about.

Do now: Add a note to ask your pro: “Is this relevant for us?”

6) Set up your IRS online account before you need it

The IRS recommends getting familiar with your IRS Individual Online Account so you can check records, make payments, manage communication preferences, and protect your info.

Real estate tie-in: If you’re applying for a mortgage, paperwork is already a sport. The less friction you have with tax records, the better.

Do now: Set it up on a calm Tuesday, not in a spiral at midnight.

 

A simple “do this this week” checklist

• ✅ Confirm you can receive refunds via direct deposit

• ✅ Start a “home docs” folder (closing docs + improvements + taxes)

• ✅ Download summaries for any digital assets / side income

• ✅ Ask your tax pro what changed for your 2025 return

• ✅ Create your IRS online account

 

If you want, tell me whether you’re buying or selling this year and I’ll send you my super practical “what paperwork you’ll actually need” list (no tax advice, just organization).

Katie Ragland / 256-366-6974 / Real Broker, LLC