Don’t Miss the October 15th Extended Tax Deadline
Don’t Miss the October 15th Extended Tax Deadline
At Evolved Tax, we’re committed to helping our clients stay informed and ahead of every deadline that matters. If you filed for an extension on your 2024 tax return, this is your reminder: the final deadline for both individual and corporate returns is October 15, 2025.
Who Does This Deadline Affect?
- Individual Taxpayers:
If you requested a six month extension on your personal income tax return (Form 1040), you must file your completed return by October 15th to remain in compliance and avoid potential late filing penalties. - Corporations:
Calendar year C corporations (Form 1120) that filed extensions earlier this year must also submit their final returns by this same deadline if they were due in April.
Key Considerations Before You File
Review All Documentation: Before submitting your return, double check that you’ve received and reviewed all necessary tax documents:
- W-2s, 1099s, K-1s, and brokerage statements
- Charitable contribution receipts, mortgage interest statements, and property tax bills
- Foreign account information
- For businesses: payroll summaries, P&L statements, depreciation schedules, and business-related deductions
Incomplete or missing documents are one of the most common causes of IRS correspondence and amended returns.
Reconcile Estimated Payments and Withholdings
Make sure to:
- Verify all federal and state estimated tax payments made during the year
- Confirm tax withholdings from W-2s, retirement distributions, and other sources
- Apply prior year overpayments, if relevant
A proactive reconciliation now ensures there are no surprises when you file.
Pay Any Balance Due: An extension to file is not an extension to pay. Any unpaid tax from the original April deadline will have accrued interest and penalties, so it’s best to address any outstanding balances promptly.
Avoid Last-Minute Rush: Rushing to file at the last moment can lead to errors, overlooked deductions, or missed compliance obligations. It also limits our ability to advise you strategically.
In Conclusion
If you have any questions about your extended return or if your financial situation has changed in a way that could impact your 2024 filing, our advisors are here to help.
