5 Things You Must Do Before the April 15 Tax Deadline
Tax Day, April 15th, is rapidly approaching. Whether you have your documents neatly organized or you are scrambling at the last minute, the impending deadline can induce a lot of anxiety. However, panicking or worse, ignoring the deadline entirely, will only lead to IRS penalties.
In this week’s “5 on Fridays,” Managing Attorney Mark Milton breaks down the five essential things you need to do before Wednesday, April 15th, to ensure you stay compliant and protect your wallet.
1. Pull Your IRS Wage and Income Transcripts
If you haven’t started gathering your tax documents yet, you need to act fast. A common mistake taxpayers make is forgetting a W-2 or 1099, which inevitably triggers an automated IRS notice. To avoid this, log into your digital IRS.gov account and pull your Wage and Income Transcript. This document shows you exactly what information third parties have already reported to the IRS, ensuring your return matches their records perfectly.
2. File a Tax Extension (If You Aren’t Ready)
If you cannot confidently complete your 2025 tax return by April 15th, do not rush and make mistakes. Instead, file for an extension. Filing an extension grants you an automatic six months (until October) to submit your paperwork. Failing to file an extension will result in a “Failure to File” penalty, which is one of the most expensive penalties the IRS assesses.
3. Pay Your Estimated Taxes
This is the most critical rule of tax season: An extension to file is NOT an extension to pay. If you file an extension, you are still legally required to estimate your 2025 tax liability and send a payment to the IRS by April 15th. If you wait until October to pay what you owe, you will be hit with “Failure to Pay” penalties and accumulating interest.
4. Verify Your E-File Was Accepted
If you are ready and are filing your taxes before the deadline using DIY software or online programs, your job isn’t done when you hit “Submit.” You must verify that your e-file was actually accepted by both the federal government and your state. Software glitches happen, and a rejected e-file that goes unnoticed can result in massive late penalties.
5. Secure Last-Minute Tax Deductions
Even though the calendar year has ended, you still have until April 15th to make certain strategic moves to lower your 2025 tax bill. You can still contribute to a deductible Traditional IRA or max out your Health Savings Account (HSA) for the previous year. If you haven’t utilized these accounts, check your eligibility and make those deposits before the deadline.
Need Help Navigating the Tax Deadline?
The final days before the tax deadline are crucial. If you find yourself overwhelmed with complex tax issues, unfiled returns, or mounting IRS debt, you don’t have to face the government alone. The team at Milton Law Group helps individuals and small business owners resolve their most stressful tax controversies.
Contact Milton Law Group today to schedule a consultation and get your tax issues resolved once and for all.