Tax season may not be anyone’s favorite time of year, but it sure does sneak up quickly. Whether you’re filing early with a refund in mind or still trying to locate your W-2 between snowstorms, a little preparation now can save you big headaches later.

To get through tax season with minimal stress, here’s your simple, Iowa-friendly checklist to get you tax-ready for 2025 filings (due April 15, 2026).

1. Create a “Tax Folder” (But Actually Use It)

Don’t underestimate the power of a good ol’ shoebox or a clean desktop folder. Create a spot, digital or paper, where you stash every tax document as it arrives.

Here’s what to toss in:

  • W-2s from employers (most are sent by January 31)
  • 1099s (contract work, retirement, interest, dividends, etc.)
  • Mortgage or student loan interest forms (1098-E, 1098-T)
  • Receipts for charitable donations
  • Childcare expenses or dependent care statements
  • Property tax statements for potential deductions
  • Self-employment or farm-related expenses

If you bank with ASB, you can log into your online banking account to download your annual interest summaries or statements.

2. Know Which Forms to Expect

You don’t want to file too early and forget something important, like that random 1099-K from selling crafts on Facebook Marketplace.

Here are a few key forms you might receive:

  • W-2 – If you’re an employee
  • 1099-NEC – For contract or freelance income
  • 1099-K – From payment platforms (PayPal, Venmo, etc.)
  • 1099-G – If you received Iowa unemployment or a state refund
  • 1099-INT or 1099-DIV – From your bank or investments
  • 1098-T or 1098-E – Tuition and student loan interest

More forms than ever are sent by email or posted online, so check your inbox and portals before blaming your mailbox.

3. Watch for These Common Iowa Tax Mistakes

Nobody wants to get that dreaded IRS letter. Here’s what we’ve seen folks in our Iowa communities slip up on:

  • Entering the wrong bank routing number for your refund (ASB’s routing number is easy to find right here at the bottom of our website)
  • Forgetting to include ag income or side gigs from the farmer’s market
  • Claiming deductions without documentation (save those donation receipts!)
  • Filing too early before receiving all necessary forms

Want to play it safe? Work with a reputable local tax pro.

4. Choose Your Filing Method

There’s no one-size-fits-all when it comes to filing your taxes. Some folks love the DIY route with TurboTax or IRS Free File. Others rely on trusted local preparers.

Whichever you choose, one thing’s for sure: Direct deposit equals faster refunds.

Set up direct deposit by providing your:

  • American State Bank routing number
  • Your account number (checking or savings)

Need help finding these? Log into your ASB mobile app or online banking — or give us a call. We’re real people here in Iowa, not robots in a call center.

Give Us a Call

Osceola, IA: 641-342-2175 | Lamoni, IA: 641-784-3120 | Winterset, IA: 515-462-5090

5. Don’t Miss These Deductions and Credits

Iowa taxpayers, especially families, teachers, and farmers, may qualify for deductions or credits you don’t want to miss:

  • Iowa 529 plan contributions – Eligible for a state deduction if you’ve saved for college
  • Educator expenses – Up to $250 deduction for out-of-pocket classroom supplies
  • Child Tax Credit and Earned Income Credit – Worth exploring if your income changed
  • Energy-efficient home upgrades – New furnace? Solar panels? These may qualify for federal credits

Had a baby in 2025? Bought your first home? Make sure your tax prep reflects those life changes.

6. Stay Safe, Because Scammers Love Tax Season!

Unfortunately, scammers get real creative this time of year. Be on the lookout for:

  • Fake “IRS” calls demanding immediate payment
  • Emails that look legit but include shady links
  • Tax prep pop-ups or Facebook ads from sketchy “experts”

Important: The IRS will never call, text, or email you asking for personal info.

If you’re unsure about something fishy, stop by an ASB branch or give us a call. We’re happy to help you sort it out.

7. Plan Ahead for Next Year

Once you file, don’t just shove everything in a drawer until next April. Use this tax season as a chance to:

Start fresh now, and next year’s filing will be smoother than a fresh coat of Iowa gravel.

We Can Make It Through Tax Season

At American State Bank, we’re proud to serve our local communities, not just during the holidays or harvest, but all year long. Whether you need help tracking down a statement, setting up direct deposit, or planning your savings, we’re here for you.

Stop by your nearest branch, give us a call, or explore our tools online. Tax season doesn’t have to be stressful when you’ve got a hometown bank by your side.

Visit us at americanstatebank.com to get started.