Did you file an extension on your individual tax return earlier this year? If so, beware that the October 15, 2025 deadline for getting your taxes filed is fast approaching and you definitely don’t want to miss it and risk paying penalties and additional interest on any taxes owed.

Whether you’re still organizing documents or preparing to submit your return, these expert tips will help you get your extended return filed accurately, efficiently and on time.

1. Gather all your required documents. If you are like many taxpayers, one of the biggest hurdles for taxpayers who delay filing is getting all their documentation in order. Before submitting your return, make sure you have:

●     Income statements (W-2s, 1099s, business earnings records).

●     A list of deductions and credits you may be eligible for plus all of the receipts for expenses such as medical costs, charitable donations, and education expenses to support your claims.

●     Investment earnings statements for any dividends, interest, or gains or losses on stock transactions.

●     All IRS correspondence regarding payments or refunds from previous years.

Still missing tax forms? Don’t delay this step! Ask your employer, financial institutions, or other entities such as investment brokers how to download or access your required tax documents from their portals or online platforms.

2. Review your tax payments. An important fact to remember: the IRS filing extension for taxes does not extend your payment deadline. If you owed taxes, they were due on April 15, 2025, even if you received an extension to file.

If you didn’t pay what you owed at that time, penalties and interest may have accumulated. To minimize further charges, calculate your outstanding balance and submit payments as soon as possible through the IRS Direct Pay[1]  portal or an electronic funds transfer from your bank account.

3. Maximize available deductions and credits. Taxpayers who extend their filing often do so because they want to ensure they claim all possible deductions and credits. If that’s you, now is the time to review what applies to your situation. Consider some of these commonly overlooked deductions which may apply to your individual taxes:

●     State and local taxes (SALT) deduction

●     Mortgage interest deduction

●     Self-employment expenses deduction

●     Student loan interest deduction

●     Charitable contributions deduction

Be sure to visit the IRS.gov information pages and reach out to our team if you have questions about whether you are eligible to claim these deductions.

Even though deductions help lower your taxable income, tax credits provide an even greater benefit by reducing the amount of tax owed dollar-for-dollar.

If applicable, look into credits such as:

●     Child Tax Credit

●     Earned Income Tax Credit

●     Education Tax Credits

4. Act now! Refuse to risk penalties for late filing. The truth is, you are running out of runway in terms of time to file your extended return. It’s strongly advised that you do everything in your power to file by the extended tax deadline of October 15. Otherwise, you will risk the following IRS penalties:

●     Failure to File Penalty: 5% per month on the unpaid taxes, up to 25%

●     Failure to Pay Penalty: 0.5% per month, increasing if you don’t arrange payments

●     Interest Charges: Additional fees on unpaid balances

If you anticipate a delay, contact the IRS as soon as possible. In cases of unexpected hardship, taxpayers may qualify for penalty relief or an installment payment plan to reduce their financial burden.

5. Verify state-specific tax filings, too. Several state tax agencies have extended filing deadlines separate from the federal ones so be sure to check your state-specific filing requirements before submitting your return to avoid any stat-level penalties.

6. Double-check your extended tax return before the filing deadline. As the extended deadline approaches, take a few final steps to ensure your tax return is complete:

●     Review all calculations for errors or missing income

●     Confirm bank account details for direct deposit refunds

●     Ensure all forms are signed and submitted correctly

●     Create copies of your tax return for your records (most tax records should be retained for at least seven years).

Lose the last-minute filing stress.

With the October 15 extended tax return deadline quickly approaching, getting your documents in order and filing your taxes as soon as possible will help you avoid penalties, reduce stress and ensure compliance.

If you need additional guidance to file your extended return or you have lingering tax questions, use the Get in Touch button to ask our firm for help navigating any uncertainties you may have.