By Leada Gore
al.com
(TNS)
As many as 20 million Americans—roughly 15% to 20% of all filers—ask for tax extensions each year. While not giving filers more time to pay, extensions do allow a few extra months to submit paperwork.
The extension deadline is now upon us.
Tax filers have until Oct. 15, 2026 to file 2025 returns without penalties. Any money that was due was still payable on April 15 but paperwork is due to the IRS no later than six months after the original deadline.
Any refund that’s due is delayed until the return is filed, including key tax credits like the Earned Income Tax Credit or Child Tax Credit.
Owing money to the IRS and missing the April 15 payment deadline can be costly. The IRS assesses a failure-to-pay penalty of 0.5% of the unpaid tax per month, up to 25%, along with interest on unpaid taxes and penalties. Failing to file for an extension carries a penalty of 5% per month, up to 25%.
The IRS does have options for payment plans. You can see more on that here.
Need to pay taxes?
The IRS offers several options to make a payment. Taxpayers can use IRS Individual Online Account, IRS Direct Pay or the Electronic Federal Tax Payment System.
Taxpayers can also pay by credit card, debit card or digital wallet through the IRS website.
Photo credit: Vitalii Abakumov/Unsplash
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Tags: 2026 tax filing, Income Taxes, IRS, tax extensions, tax filing, Taxes
