Here’s what you need to know:
What Is the October 15 Deadline?
The IRS allows taxpayers to request a 6-month extension from the usual April 15 filing deadline, pushing your due date to October 15. This extension applies only to filing your return — not to paying your taxes.
If you owed taxes back in April, interest and possibly penalties have been accruing since then.
Did You Pay Back in April?
If you sent in a payment with your extension request, that was a smart move. It helped reduce the interest and penalty charges.
But don’t wait any longer to file your actual return. Filing after October 15 may trigger late-filing penalties on top of what you already owe.
What You Should Do Now
- Finish Your Tax Return ASAP
Gather any missing documents and get your return filed. If you need help, contact a tax professional (like us at GLM) to avoid costly mistakes. - Pay Any Remaining Balance
If you still owe money to the IRS, pay as soon as possible to reduce interest and penalties. - Check for Deductions and Credits
Even if you’re filing late, don’t rush through your return. You may still qualify for deductions or tax credits that reduce what you owe.
Business Owners: Don't Miss This Either
If you're a sole proprietor filing a Schedule C with your personal return, this deadline applies to you, too. Miss it, and the IRS could issue penalties and interest that affect both you and your business.
What Happens If You Miss the Deadline?
If you don’t file by October 15:
- The IRS may assess a failure-to-file penalty
- You may lose your refund if you're owed one and don’t file within 3 years of the original deadline
- Your tax problems will only get worse the longer you delay
Need Help?
If you’re overwhelmed, behind, or unsure where to start — we can help.
Final Tip:
Don’t treat the October 15 deadline like a soft suggestion — it’s the real deal. File now and avoid future stress, penalties, and interest.
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