The 2026 tax filing season has officially begun, and millions of Americans are preparing to submit their 2025 federal income tax returns.
But here’s the reality: many people still wait until the last minute.
A recent survey found that nearly one in three taxpayers delay filing their returns.
That delay can lead to penalties, extra fees and unnecessary stress.
If you want to avoid costly mistakes, here’s what you need to know.
Mark Your Calendar: April 15 Is the Deadline
If you’re filing your 2025 federal tax return, the deadline is April 15, 2026.
This day, commonly known as Tax Day in the United States, is the final date to submit your return without penalties.
Filing on time helps you avoid late fees and keeps unnecessary stress away.
Waiting until the last moment increases the risk of errors or missing important documents.
What Happens If You Miss the Deadline?
Missing the April 15 deadline can be expensive.
According to the Internal Revenue Service (IRS), the failure-to-file penalty is usually 5% of the unpaid taxes for each month your return is late.
This can continue for up to five months.
If your return is more than 60 days late, the penalty becomes harsher.
You may have to pay either 100% of the unpaid tax or up to $485, whichever is lower.
There is also a separate failure-to-pay penalty.
If you file but don’t pay what you owe, the IRS can charge 0.5% of your unpaid taxes per month, up to a maximum of 25%.
Even a short delay can increase the total amount you owe.
Who Is Required to File a Tax Return?
Most US citizens and permanent residents who are working must file a return.
You generally need to file if:
Your income exceeds the minimum limit set for your filing status
You earned more than $400 from self-employment, such as freelancing or side gigs
You received certain types of income or tax credits that require filing
If you’re unsure, it’s best to review IRS guidelines carefully. Filing when required helps you avoid penalties later.
Need More Time? Here’s How to Get an Extension
If you’re not ready by April 15, you can request a filing extension.
You can apply online, use tax software, work with a tax professional, or submit the required form directly to the IRS.
An approved extension gives you extra time to file your return.
However, remember this important point: an extension gives you more time to file, not more time to pay.
If you expect to owe taxes, you should still make a payment by April 15 to avoid penalties and interest.
With deadlines approaching, filing early can save you money and peace of mind.
Taking action now is far better than dealing with penalties later.
