Tax Day 2025 Looms: Your Guide to Filing Before the April 15 Deadline

Mark your calendars: the federal tax filing deadline for your 2024 return is Tuesday, April 15, 2025. Avoid penalties by understanding your filing options, payment methods, and what to do if you need more time or can’t pay immediately.

Even though Tax Day arrives every year, the April 15 deadline can often sneak up on taxpayers. As crunch time approaches, it’s crucial to understand the requirements for filing your 2024 federal income tax return with the IRS to avoid late filing or payment penalties.

Key Deadline Information

For most individuals, the deadline to file federal income taxes is Tuesday, April 15, 2025. While most state income tax deadlines align with the federal date, it’s wise to double-check your specific state’s requirements, as exceptions exist (e.g., Louisiana residents have until May 15, Hawaiians until April 21 for 2025 state filings). Additionally, taxpayers residing in federally declared disaster areas may automatically receive filing extensions.

How to File Your Income Taxes

If you’re aiming to file quickly and accurately before the deadline, several options are available once you’ve gathered your necessary documents (W-2s, 1099s, etc.):

1. IRS Free Options:

   • Direct File: A pilot program allowing eligible taxpayers in select states to file directly with the IRS for free. It may also integrate with state filing tools.

   • Free File: Guided tax software provided through IRS partners, available to taxpayers with an adjusted gross income (AGI) of $84,000 or less (check current year threshold).

2. Tax Software: Commercial software (like TurboTax or H&R Block) offers user-friendly interfaces but often comes at a cost, though free versions may exist for simple returns.

3. Government Tax Assistance:

   • VITA/TCE: Volunteer Income Tax Assistance (VITA) helps low-to-moderate income individuals, while Tax Counseling for the Elderly (TCE) focuses on taxpayers aged 60 and older.

   • MiliTax: Free tax software via the Department of Defense for military members, some veterans, and their families.

   • Taxpayer Assistance Centers (TACs): IRS centers offering in-person help with various tax issues, including setting up payment plans and filing assistance.

4. Tax Professionals: Certified Public Accountants (CPAs) or Enrolled Agents (EAs) can handle complex returns and tax planning, though they become very busy near the deadline.

Important Considerations Before Filing

• Credits and Deductions: Identify all tax credits (like the Child Tax Credit or Earned Income Tax Credit) and deductions you’re eligible for to minimize your tax liability.

• Standard vs. Itemized Deductions: Decide whether taking the standard deduction or itemizing specific expenses (like mortgage interest or significant medical costs) benefits you more. Itemizing requires more documentation but can yield greater savings for some.

• Filing Status: Choose the correct filing status (e.g., Single, Married Filing Jointly) as it impacts your tax rates and standard deduction amount.

Need More Time? Filing an Extension

If you can’t file by April 15, you can request a six-month extension (usually until October 15). This must be requested by the original deadline. Crucially, an extension only provides more time to file your return, not more time to pay any taxes owed. Estimated tax payments are still due by April 15.

How to Pay Your Taxes

If you owe taxes, you can pay:

• Electronically: Through your tax software, IRS Direct Pay (via bank account, debit/credit card), or approved payment processors.

• By Mail: Sending a check or money order with Form 1040-V. Note: The government aims to phase out paper check payments.

If You Can’t Pay in Full

The IRS offers options if you cannot pay your tax bill by the deadline:

• Short-Term Payment Plan: Up to 180 days.

• Offer in Compromise (OIC): A potential settlement for less than the full amount owed, available under specific financial hardship circumstances.

• Installment Agreement: Longer-term monthly payments.

Consequences of Missing the Deadline

Failing to file or pay on time results in penalties:

• Failure to File Penalty: 5% of unpaid taxes per month (up to 25%).

• Failure to Pay Penalty: 0.5% of unpaid taxes per month (up to 25%), potentially increasing if the IRS issues a late notice. Interest also accrues on unpaid amounts and penalties.

Using Your Tax Refund Wisely

If you’re due a refund, direct deposit is the fastest way to receive it (paper checks are being phased out). Consider using your refund strategically: pay down high-interest debt, boost your emergency savings, or invest for retirement or education.