The US taxpayers need to file their 2024 tax return faster as tax day (15 April 2025) is approaching, just 12 days away. According to the latest update, millions of taxpayers are yet to file their tax returns in the 2025 tax season.
The taxpayers need to work faster and file their tax returns before or on the tax day to avoid the consequences of missing the tax deadline. If you failed to file the tax return on time, you may have to pay a penalty or interest until you pay the amount you owe.
Taxpayers who think they need more time to file their tax returns and prepare for them can file for the tax return extension before the deadline and complete their tax obligation later before the extension deadline, 15 October 2025. The tax deadline is the same for everyone unless you came from a disaster-affected area.
| Tax Day | 15 April 2025 |
| Tax deadline for disaster-affected areas | 01 May 2025 |
| California wildfires affected | 15 October 2025 |
| Tax Extension Deadline | 15 October 2025 |
| Failure to file penalty | 5% tax due for each month |
| Failure to pay a penalty | 0.5% of unpaid taxes for each month (up to 25%) |
| Tax extension Form | Form 4868 |
| Official Website | https://www.irs.gov/ |
Tax Deadline
The 2025 tax season tax return is due on 15 April 2025; however, for some taxpayers, it may be different, such as:
- The agency announced the tax relief for the Post-tropical Storm Helene-affected disaster areas and extended the tax deadline to 01 May 2025.
- The IRS announced the tax deadline extension for the California wildfires affected areas individuals and businesses till 15 October 2025. So, taxpayers whose tax returns are due on 15 April can file their individual or business tax returns till 15 April 2025.
- The individuals and businesses in the state of Kentucky affected by the severe storms, landslides, flooding, and straight-line winds that started on 14 February 2025 can file their federal individual or business tax returns due on 15 April 2025 by 03 November 2025.
Taxpayers who do not come from any of the disaster-affected areas have to pay and file their taxes before or on the tax day, 15 April 2025.
Penalty on failure to file
If you miss the tax deadline and fail to file the tax return, you will be subject to a penalty. The IRS charges a penalty when you do not pay the taxes on time in the right way, fail to file, do not file an accurate return, or do not provide information returns.
The IRS sends the notice or letter to the taxpayers when they owe a penalty. If you can resolve the issue mentioned in your notice, your penalty may not apply. Now, if you miss the deadline and fail to file the return or pay, you can expect the following penalty:
- Your penalty will be 5% of the tax due for each month or the partial month the tax is due. The penalty can reach up to a maximum of 25%.
- If you do not file the tax returns for more than 60 days, the minimum penalty will be the listed amount or 100% of the underpayment, whichever is the lesser amount. The failure to file penalty will be maximum after five months, so if you do not wish to pay a hefty amount, pay the penalty and file the taxes before five months.
- If the taxpayer is charged with failure to pay the penalty as well as failure to file, your failure to file penalty may be reduced by 0.5% of each month of the amount of the failure to pay penalty.
- The IRS also applies interest on the penalty depending on the type of penalty. The interest on penalty increases with the amount you owe to the agency until you pay the taxes in full.
- If you fail to pay the taxes, the penalty will be 0.5% of the unpaid taxes for each month until the tax remains unpaid, it will not exceed 25% of the unpaid taxes.
Reduce or remove the Penalty
Taxpayers can get their penalty for the failure to file removed or reduced in some cases, when they show good faith or reasonable cause for not filing the taxes on time. Taxpayers can get the following penalty relief based on their penalty:
- Reasonable Cause: It is considered, under certain circumstances of your situation, that led to the reasons for not filing the tax return on time.
- First Time Penalty Abate and Administrative Waiver: The taxpayer gets relief from the penalty under certain conditions from an administrative waiver.
- Statutory Exception: Taxpayers can get the penalty relief through the statutory exception when they lived in the federal disaster area, were involved in military operations, or for other reasons.
In the case of failure to file a tax return, you can ask for penalty relief through the reasonable cause, where you have to provide the appropriate reason for your delay in filing the tax returns. You can appeal for the penalty relief over the phone mentioned in the notice or letter.
If you do not agree with the penalty charges, you can also appeal it and get involved in the dispute over the penalty.
Need Time to file
Taxpayers who think they may need time to file their tax returns should apply for the tax extension soon before the tax day, otherwise, they will face the consequences. The IRS offers an automatic six-month extension to file your taxes; however, please keep the following things in mind:
- With extension, you only get time to file your tax returns, however, you have to pay your taxes in the due time, otherwise, a penalty to pay will be applicable to you.
- To file for the extension, you must file the Form 4868 with the IRS before the tax day.
The tax deadline (15 April 2025) is just a few days away, so file your taxes on time or file for extension if you need more time.