2024 Tax Season Updates – March 2025
March 4, 2025
Tax Season Update – March 2025
As tax season progresses, we want to remind our clients that we are here to assist with a smooth and efficient tax preparation process. Our goal is to ensure you receive your tax documents securely and on time.
Our reporting team has been compiling investment portfolio tax documents for the 2024 filing season. These documents will be delivered securely in mid-March, giving you ample time for review and preparation. Unless we are notified otherwise, we will continue to follow the tax delivery instructions you have provided in previous years.
Important Update on IRA 5498 Forms:
Beginning with the 2024 tax year, Fidelity will no longer issue IRA 5498 tax forms in January as it has in the past. Instead, these forms will be issued in May, in accordance with IRS requirements, for any IRA holders who made a 2024 contribution. We will provide your 2024 Year-End Statement for illustrative purposes of all information that was previously found on these forms, should the information be needed.
Investment Portfolio Tax Document Delivery
- If we are sending your tax documents directly to your CPA, you will receive an email confirmation once they have been securely delivered via email or through their designated portal. If you would like an additional copy for your records—either electronic or physical—you may request one or access the documents through your Fidelity portal.
- If your tax documents are not being sent to a CPA, they will be delivered to you according to the preferences you provided previously—either electronically via a secure ShareFile link or in physical format.
If your CPA or document delivery preferences have changed, please contact our tax reporting team:
Courtney Summa, Client Service Manager – courtney@centerpointadvisors.net
Laura Lopez, Client Service Associate – llopez@centerpointadvisors.net
Protecting Your Information During Tax Season
Tax season is a peak time for cybersecurity threats and identity theft. To help keep your financial information secure, we recommend following these best practices:
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- Verify Information Requests – Centerpoint Advisors will never ask for sensitive details such as Social Security numbers or account credentials via email, website chat, or text messages. Be cautious of unsolicited requests.
- Verify Information Requests – Centerpoint Advisors will never ask for sensitive details such as Social Security numbers or account credentials via email, website chat, or text messages. Be cautious of unsolicited requests.
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- Confirm Website Security – Before entering personal information online, look for the lock icon in the URL bar to ensure the connection is secure.
- Confirm Website Security – Before entering personal information online, look for the lock icon in the URL bar to ensure the connection is secure.
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- Be Cautious with Links – Avoid clicking on unexpected links in emails, pop-ups, or messages from unknown senders. When in doubt, visit the company’s official website directly.
- Be Cautious with Links – Avoid clicking on unexpected links in emails, pop-ups, or messages from unknown senders. When in doubt, visit the company’s official website directly.
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- Use Secure Networks – Public Wi-Fi is not secure. Avoid logging into financial accounts or conducting sensitive transactions while using it.
- Use Secure Networks – Public Wi-Fi is not secure. Avoid logging into financial accounts or conducting sensitive transactions while using it.
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- Strengthen Cybersecurity – Use strong, unique passwords and update them regularly. Keep security software up to date to protect against evolving threats.
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- Be Careful with Social Media – Details such as pet names, family activities, or travel plans can be used by fraudsters to bypass security questions or impersonate trusted contacts.
At Centerpoint Advisors, safeguarding your financial information remains a top priority. If you have any questions regarding the timing of your tax documents or concerns about security, please reach out. We are happy to assist you.