ITHACA, NY (607NewsNow) — Today marks April 15, the final day of the regular 2026 tax filing season. If you’re running out of time to file your return, there’s still a solution, but it’s important to act quickly and understand your options.
Understanding Extensions
If you’re not ready to file by the end of today, you can request a tax extension. This gives you an additional six months, moving your filing deadline to October 15, 2026. However, an extension only applies to filing your return, not paying what you owe.
Any taxes due must still be paid by April 15. Missing that payment can result in interest and penalties that begin accruing immediately. To reduce potential costs, it’s best to estimate your tax liability and pay as much as you can before today’s deadline.
What to Do During the Extension Period
Filing an extension can give you valuable time to get things right. Use this period to carefully review deductions and credits to ensure you’re maximizing your return. If eligible, you may still be able to make contributions to accounts like IRAs or HSAs for the 2025 tax year, provided they’re completed by today.
For business owners, this extra time is especially useful for organizing records, confirming expenses, and ensuring all documentation is accurate and complete before filing.
Avoid Common Tax Mistakes
Even with an extension in place, accuracy matters. Double-check personal details like Social Security numbers for yourself and any dependents, as errors can delay processing.
Make sure you have proper documentation for deductions such as charitable contributions, and confirm that all income forms, W-2s, 1099s, and others, are accounted for and accurate. Reviewing your filing status is another key step that can impact your overall tax outcome.
Important Reminders for Businesses
For business owners, April deadlines don’t stop with your personal return. Quarterly estimated taxes and certain state or local filings may still be due today. Missing these can lead to additional penalties.
It’s also a smart time to start planning ahead. Evaluating expenses and considering strategic investments in equipment or technology later in the year can help reduce future tax burdens.
Get Professional Help
If you’re feeling the pressure of today’s deadline, you’re not alone. Professional guidance can help ensure everything is handled correctly, whether you’re filing now or requesting an extension.
At Sprague & Jackson, we assist individuals and businesses with everything from extensions to full tax preparation. We can also review returns from the past three years to identify potential amendments or missed opportunities.
For personalized assistance, contact Sprague & Jackson today or visit www.sprjac.com to learn more.
