When Can You File Taxes 2025 Ontario. The lifetime limit is set to be phased in by increments of $200,000 per year, beginning january 1, 2025, and reaching $2 million by january 1, 2034. Find key dates for filing and paying taxes, and for receiving credit and benefit payments from the cra.
There are also regions across several states that have until may 1, 2025, to file federal individual and business tax returns due to natural disasters, including hurricanes helene and milton. Penalties and interest may be charged for late returns or late payments.