Federal taxes are usually due on April 15th each year. However, if that day falls on a weekend or holiday, the deadline gets pushed to the next business day.
And if you need extra time, you can request an extension, which gives you until October 15th to file. But keep in mind, an extension is only for filing. You’ll still need to pay any taxes owed by April 15th to avoid penalties and interest.
Is April 15th Always the Deadline?
For most people, April 15th is the day taxes are due each year.
However, as we’ve seen above, there’s an important rule to keep in mind. If April 15th lands on a weekend or federal holiday, the tax filing deadline is extended to the next business day.
This can sometimes confuse taxpayers, so let’s break it down.
For example, in 2025, April 15th falls on a Tuesday, so the tax deadline remains April 15th, 2025. However, we can look at some upcoming years when April 15th does fall on a weekend or holiday:
➼ 2026: April 15th falls on a Wednesday, so the deadline is still April 15th, 2026.
➼ 2027: April 15th falls on a Thursday, so the deadline is still April 15th, 2027.
➼ 2028: April 15th falls on a Saturday. In this case, the deadline is moved to the next business day, which is Monday, April 17th, 2028.
➼ 2029: April 15th falls on a Sunday. So, the new deadline would be Monday, April 16th, 2029.
It’s important to check the specific year and understand how holidays or weekends might affect your filing deadline.
What Happens if You Miss the Deadline?
If you miss the tax deadline, there are consequences.
The IRS charges both penalties and interest for late filings and payments. The amount of these fees can add up quickly, so it’s best to avoid them altogether.
➡ Late Payment Penalty
The late payment penalty is typically 0.5% of the unpaid taxes for each month or part of a month that your payment is late.
If you owe $1,000 in taxes and are one month late, the penalty would be $5.
➡ Late Filing Penalty
The late filing penalty is steeper. If you don’t file on time, the penalty is 5% of the unpaid taxes for each month or part of a month that your return is late.
If your taxes are $1,000, and you file two months late, your penalty would be $100.
➡ Interest
In addition to penalties, the IRS also charges interest on any unpaid tax.
The interest rate changes quarterly and is generally the federal short-term rate plus 3%. Interest accrues daily and compounds, which means you could end up paying even more over time if you delay.
Example Calculation
Let’s say you owe $1,000 in taxes and file your return two months late. Here’s how your penalties might look:
⦿ Late filing penalty: 5% of $1,000 = $50 per month × 2 months = $100
⦿ Late payment penalty: 0.5% of $1,000 = $5 per month × 2 months = $10
⦿ Interest: Assuming a 4% annual interest rate, the interest on $1,000 for two months would be about $6.67.
In total, you’d owe around $116.67 in penalties and interest on a $1,000 tax bill if you filed two months late. That’s an extra 11.67% added to your tax bill for just two months of delay.
So, you can see how quickly missing the deadline can become expensive.
How to Avoid Missing the Deadline
We have seen how missing the federal tax deadline can be costly, but there are ways you can ensure you file on time:
➡ Set Up Reminders
Use a calendar app or IRS alerts to set reminders.
You can also sign up for IRS e-News Subscriptions, which sends updates and reminders directly to your inbox. This service helps keep you informed about key tax dates, like when your taxes are due.
It’s an easy way to stay ahead of the deadlines and avoid costly penalties.
➡ Start Early
One of the best ways to stay ahead is to start early. The sooner you gather your tax documents, the smoother the process will be.
Whether you’re self-employed, an employer, or an employee, having the right forms on hand is essential.
What Tax Documents Do You Need?
The forms you need depend on how you earn income:
⦿ Employees
You’ll need a W-2 form from your employer. This shows your earnings and the taxes withheld throughout the year. Employers must send out W-2s by January 31st.
⦿ Freelancers & Self-Employed
If you worked as an independent contractor, you’ll likely receive a 1099-NEC from clients who paid you $600 or more, or you can create one for yourself for tax purposes.
If you earned income from multiple sources, you may receive multiple 1099s.
⦿ Business Owners & Employers
If you have employees, you are responsible for issuing W-2s and 1099s on time.
➡ Consider a Tax Professional
We are still avoiding tax fines. Now, if your situation is complex, such as owning a business or being self-employed, it’s wise to hire a tax professional.
They can help ensure you don’t miss the deadline and minimize your tax burden.
➡ Pay What You Owe
If you owe taxes and can’t pay the full amount by April 15th, consider setting up a payment plan with the IRS.
The IRS offers installment agreements, so you can pay over time and avoid late payment penalties.
Can You File an Extension?
Yes, you can file for an extension. If you need more time to prepare your tax return, the IRS allows you to apply for an extension, giving you until October 15th, 2025, to file your return.
The process is simple.
You can file IRS Form 4868, which is available online, or you can file directly through tax software. However, keep in mind that extensions only apply to filing your tax return.
They do not extend the time to pay any taxes owed.
If you owe, you must make your payment by April 15th, or you will face penalties and interest.
Here’s an illustration: If you owe $1,000 but need more time to gather your documents, file an extension. This will give you until October 15th to file, but the $1,000 payment is still due on April 15th.
If you pay late, you’ll incur the same penalties and interest discussed above.
Do Payroll Taxes Have the Same Deadline?
If you run a business, you must also keep track of payroll taxes. Payroll taxes include Social Security, Medicare, and federal income tax withholding for your employees. These taxes follow a different deadline system than personal income tax.
Generally, payroll taxes are due quarterly or semi-weekly, depending on the size of your payroll.
For small businesses with smaller payrolls, quarterly tax payments are typical. If your business has a larger payroll, the IRS may require you to pay payroll taxes on a semi-weekly basis.
Check the IRS tax calendar to make sure you’re filing and paying on time.
Key Dates for Filing Taxes in 2025
Here’s a quick recap of the important dates for tax year 2025:
⦿ April 15, 2025: Standard filing deadline for individual taxpayers.
⦿ October 15, 2025: Final deadline for filing your taxes if you requested an extension.
⦿ Quarterly Payroll Tax Deadlines: Vary based on your payroll schedule.
Make sure to mark these dates on your calendar and set up reminders to avoid penalties.
How to Get Your Tax Forms
Employers must provide W-2s by January 31st.
If you haven’t received yours, reach out to your HR department or payroll provider. However, if you’re an employer, the best place to find these forms is PaystubHero. What about needing to create your own?
PaystubHero makes it quick and easy for self-employed individuals and business owners.
FAQs
Common questions about federal tax due dates include:
