Hi,
The final extended filing deadline is now only days away.
October 15, 2026 is the extended federal filing deadline for individual returns. This applies even if nothing about your situation changed from last year, your income was the same, your return is simple, or you don’t owe anything. You must still file. Otherwise, federal penalties apply.
The October 15 deadline applies to individuals filing Form 1040 who submitted a Form 4868 extension. This is the final extended deadline, there is no additional extension beyond this date.
Here is what waiting can cost:
- The late-filing penalty is 5% of any unpaid tax for each month or part of a month the return is late, up to 25% of the unpaid tax
- If the return is more than 60 days late, a flat minimum penalty applies, the lesser of $525 or 100% of the unpaid tax
- A separate late-payment penalty of 0.5% per month (also capped at 25%) applies to any unpaid balance, plus interest that compounds daily
An extension gave you more time to file, not more time to pay. Payment was due back on April 15, and interest has been accruing on any unpaid balance since then, so finishing the return now matters even if you cannot pay the full balance immediately.
Before we can file, this is what usually needs to be addressed:
- Any missing W-2s, 1099s, interest, dividends, brokerage statements, freelance or gig income
- K-1s from any partnerships or S corporations you’re invested in
- Rental property income and expenses
- Investment sales, what was bought, sold, and at what cost basis
- Retirement account activity, contributions, withdrawals, conversions, or required minimum distributions
- Self-employment income and expenses, if you freelance or run a side business
- Itemized deductions, mortgage interest, property tax, charitable giving, medical expenses
- Major life changes, marriage, divorce, a new child, buying or selling a home
- Foreign accounts or foreign income
- Estimated tax payments already made during the year
Fiscal-year filers, state returns, and taxpayers receiving disaster relief may have different deadlines. That is why the first step is confirming exactly which dates apply to you.
Reply to this email by Wednesday, and we will schedule a free 15-minute call with our senior tax advisor. Bring your most recent return, current records, and extension confirmation so we can identify what is missing and whether your return can be completed before the deadline.
October 15 is the filing deadline, not the day to begin gathering the records.
Sincerely,
—
George Dimov, CPA
Licensed and Insured
(833) 829-1120 toll free
(212) 994-8081 Fax
www.dimovtax.com