The Oct. 15 Tax Deadline Is Coming: What Extended Filers Still Need To Do
If you requested a federal tax extension earlier this year but haven’t filed your return, the clock is ticking. The deadline is Oct. 15. If you miss it, you may face more penalties, especially if you owe taxes.
Here’s what to do before the deadline to ensure you submit an accurate return.
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Calculate What You Owe and Pay What You Can
An extension to file is not an extension to pay. Even if you received an extension to file your return, your federal income tax for 2025 was due on April 15.
If you haven’t paid the full amount, calculate the amount you still owe after you subtract your withholdings and tax credits and any payments you’ve made. Pay what you can now to reduce further penalties and interest.
Can't afford the whole bill? Just file it and see if the IRS has any payment plans. Interest usually still accrues on any outstanding balances.
Check Your Estimated Tax Payments
If you’re self-employed, earn freelance income, investment income, or other income that doesn’t have enough taxes withheld, check your 2025 estimated tax payments.
If, after subtracting your withholding and refundable credits, you owe $1,000 or more in taxes, you may owe a penalty to the IRS for underpaying. Taxpayers must pay either 100% of last year’s tax or at least 90% of this year’s tax liability, with a higher threshold for some taxpayers who earn more.
Check your payment records and report estimated payments correctly on your return. Remember that the October filing deadline doesn’t change quarterly estimated-tax obligations for 2026.
Gather These Documents Before Filing
Before you prepare your return, gather the following documents:
Income records: W-2s, 1099s, and investment income.
Deduction and credit documents: Form 1098 mortgage interest statements, charitable donations, receipts of education expenses, and other deduction or credit records.
Payment records: Federal withholding, 2025 estimated payments and the confirmation for any amount paid with your extension.
Personal information: Social Security number or other taxpayer-identifying number and bank account information for a direct deposit refund and a copy of last year’s return, since e-file software usually requires prior-year adjusted gross income (AGI) to verify your identity.
If you’re missing a document, check your IRS individual online account or contact the issuer.
File Electronically and Keep Confirmation
Once you gather all your documents, use reputable tax software or a qualified tax professional. If you can prepare your own tax return, Free File Fillable Forms are available for all income levels. The IRS Free File program provides guided preparation to taxpayers with an AGI of $89,000 or less in 2025.
Submit your return early to avoid penalties. Keep your submission confirmation and copies of your return and supporting documentation.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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