5 Things Every Individual Filer Should Do Before Tomorrow’s Deadline

                                       

By: Laurie Smith

Partner, Tax

Key Takeaways 

• April 15 is the deadline to file your 2025 return or request an extension — missing both triggers penalties starting at 5% per month on any taxes owed. 
• Filing an extension does not extend your time to pay — taxes owed are still due April 15, extension or not. 
• April 15 is also the last day to make 2025 IRA and HSA contributions — a filing extension does not move this deadline. 
• Your Q1 2026 estimated tax payment is due April 15 as well 
• Bottom Line: Even if your return isn’t ready, take action today — file an extension, pay what you can, and fund eligible accounts before the window closes. 

April 15 has a way of arriving faster than anyone plans for. Whether you’re still waiting on a document, sorting through a complicated year, or simply ran out of time, there are five things you should do before tomorrow’s deadline — and doing nothing is not one of them. 

1. File Your Return or Request an Extension by End of Day

If your return is ready, file it. If it isn’t, file Form 4868 to request an automatic six-month extension, pushing your filing deadline to October 15, 2026. 

The extension request can be submitted electronically through IRS Free File at no cost, regardless of your income level. You can also request an extension by making an electronic tax payment through IRS Direct Pay or EFTPS and selecting “extension” as the payment reason — no separate form required. 

One important note: do not confuse filing an extension with buying yourself more time to pay. That’s not what an extension does. Taxes owed are still due April 15. If you miss both the filing deadline and fail to pay, the IRS will assess a failure-to-file penalty at 5% per month — on top of the failure-to-pay penalty of 0.5% per month — plus interest accruing daily. Filing the extension eliminates the far more expensive failure-to-file penalty, even if you can’t pay in full today. 

 2. Pay As Much as You Can — Even If YouCan’tPay It All 

If you owe and can’t pay the full balance, pay as much as you can right now. The failure-to-pay penalty applies only to the unpaid portion, so every dollar you remit today reduces the amount the meter runs on going forward. 

Paying at least 90% of your total 2025 tax liability by April 15 qualifies you for a safe harbor that eliminates the failure-to-pay penalty entirely, provided you pay the remaining balance by October 15. 

For taxpayers who genuinely cannot pay the full amount, the IRS offers online payment plans. A short-term plan is available for balances under $100,000 and can be set up directly at IRS.gov with an immediate response. Entering a payment plan drops the failure-to-pay penalty rate from 0.5% to 0.25% per month. Penalties and interest continue to accrue until the balance is paid, but a structured plan prevents the situation from escalating further.

3. Make Your 2025 IRA Contribution Before Midnight

If you have not yet maxed out your 2025 IRA contribution, today is your last chance. The deadline is April 15, 2026 — and unlike the tax filing deadline, a filing extension does not move it. 

For tax year 2025, the contribution limits are: 

• $7,000 for individuals under age 50 
• $8,000 for individuals age 50 or older (including the catch-up contribution) 

Traditional IRA contributions may be deductible depending on your income and whether you or your spouse is covered by a workplace retirement plan. Roth IRA contributions are made with after-tax dollars but grow tax-free. Both account types accept prior-year contributions through April 15. 

When making a prior-year contribution, notify your IRA provider that the contribution is designated for 2025. If you don’t, the institution may apply it to 2026 by default, which can create a recordkeeping problem and potentially an excess contribution for the wrong year.

4. Fund Your HSA If You Haven’t Maxed It Out 

If you were enrolled in a qualifying high-deductible health plan in 2025, you can still make a 2025 Health Savings Account contribution through April 15 — but not a day later. A filing extension does not extend this deadline. 

The 2025 HSA contribution limits are: 

• $4,300 for self-only coverage 
• $8,550 for family coverage 
• $1,000 additional catch-up contribution for individuals age 55 or older who are not enrolled in Medicare 

HSAs are among the most tax-efficient accounts available. Contributions are tax-deductible, growth is tax-deferred, and withdrawals are tax-free when used for qualified medical expenses. If you have unused contribution room from 2025, funding it today generates a deduction on your 2025 return that can reduce your tax bill — or increase your refund.

5. Send Your Q1 2026 Estimated Tax Payment

April 15 is also the due date for your first-quarter 2026 estimated tax payment — and this deadline has nothing to do with your 2025 return or any extension you may be filing for it. These are two completely separate obligations that happen to share the same date. 

If you receive income not subject to withholding — freelance income, rental income, investment income, business distributions — you are generally required to make quarterly estimated payments. Missing the Q1 payment triggers an underpayment penalty calculated at the current IRS rate of 7% per year, applied to the shortfall for that quarter. 

You can make an estimated tax payment online at IRS.gov using Direct Pay or EFTPS. Use Form 1040-ES to calculate your payment if you are unsure of the amount. The three safe harbors that protect against the underpayment penalty: owing less than $1,000 after withholding and credits; paying at least 90% of your 2026 tax liability; or paying 100% of your 2025 tax liability (110% if your 2025 adjusted gross income exceeded $150,000). 

How Wiss Can Help 

If you’re not sure where you stand heading into tomorrow’s deadline — whether it’s estimating what you owe, determining whether you qualify for disaster relief, or making sure your retirement and HSA contributions are properly designated — our tax team is here to help you make the right moves today. 

Questions? Reach out to a Wiss team member for more information or assistance. Contact Us.

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