When is the tax deadline for 2025 taxes filed in 2026?

The primary tax deadline for filing your 2025 federal income tax return is April 15, 2026. If you need more time, you can file for an extension, which typically pushes the filing deadline to October 15, 2026. Remember, an extension to file is not an extension to pay any taxes you owe.

How do I file taxes for free?

You can file your federal taxes for free through the IRS Free File program if your Adjusted Gross Income (AGI) is below a certain threshold (expected to be around $79,000 for 2025). You must access this program through the IRS website (IRS.gov). Alternatively, FreeTaxUSA offers free federal filing for all income levels, with a small fee for state returns.

What happens if I file my taxes late?

If you file your taxes late and owe money, you may face two types of penalties: a failure-to-file penalty and a failure-to-pay penalty. The failure-to-file penalty is generally 5% of the unpaid taxes for each month or part of a month that a tax return is late, capped at 25%. The failure-to-pay penalty is 0.5% of the unpaid taxes for each month or part of a month, also capped at 25%. Interest also accrues on underpayments.

Do I need to file taxes if I made under $15,000?

For the 2025 tax year, if you are single and your gross income is below $14,600, you generally are not required to file a federal income tax return. However, it's often beneficial to file even if not required, especially if you had federal income tax withheld or qualify for refundable tax credits like the Earned Income Tax Credit.

What is the difference between a tax deduction and a tax credit?

A tax deduction reduces your taxable income, meaning less of your income is subject to tax. The actual tax savings depend on your marginal tax bracket. A tax credit, on the other hand, directly reduces the amount of tax you owe, dollar-for-dollar, making credits generally more valuable than deductions of the same amount.

How to File Taxes in 2026: Step-by-Step Guide | One Percent…