Tax Deadline Alert: Tomorrow is the Last Day
April 15th marks the crucial deadline for filing personal taxes in the United States. If you haven’t already filed your tax return, tomorrow is your last chance to do so without facing penalties. Here’s why it’s important to meet the deadline and what you need to know if you need an extension.
Why is it Important to File by Tomorrow?
Filing your taxes by the deadline ensures that you avoid costly penalties and interest charges. If you miss the April 15th deadline without an extension, you could face:
Late Filing Penalties: The IRS can impose a penalty of 5% of the unpaid taxes for each month (or part of a month) your return is late, up to a maximum of 25%.
Interest Charges: In addition to penalties, the IRS charges interest on any unpaid taxes. This interest accrues daily and can significantly increase your tax bill over time.
Loss of Refund: If you’re due a refund, filing late could delay receiving your refund, and in extreme cases, you might forfeit it altogether if you wait too long.
Need More Time? File for an Extension by End of Business Today
If you're unable to file your taxes by tomorrow, you can still request an extension. However, it’s important to note that you must file for an extension by the end of business today, April 14th, in order to extend your filing deadline.
An extension gives you an additional six months to file your tax return, moving your deadline to October 15th. However, an extension to file is not an extension to pay. You are still required to pay any taxes owed by tomorrow, April 15th, to avoid penalties and interest on the unpaid amount.
Whether you're filing your return or requesting an extension, our accounting team is standing by and ready to assist you. We can help you:
Finalize and submit your personal tax return
File for an extension quickly and accurately
Estimate your tax payment to avoid fees
Don't wait until the last minute—reach out to us today so we can help you wrap up tax season smoothly and stress-free!