The tax filing deadline for most Americans is April 15th. Those who haven't filed can still apply for an extension until October 15th, but taxes owed must be paid by April 15th. Many can file taxes for free through IRS Free File or Direct File. If someone owes a balance but doesn't file, they can expect penalties and interest. The IRS also suggests filing electronically for a faster refund.
There are still ways to reduce your taxes or get a bigger refund before the April 15th deadline. Consider putting money into a pretax IRA, a spousal IRA (if you're married), or a health savings account. These contributions can lower your taxable income or provide tax-free growth.
To ensure prompt tax refunds, file a complete and correct tax return with information matching IRS records. Gather all necessary tax forms, including W-2s and 1099s. Verify your income and claim eligible deductions and credits, such as mortgage interest and tuition expenses. Review previous tax returns and consider life changes that may impact your return. Filing an accurate return initially is crucial to avoid delays from amended returns.
