As the 2023 tax season draws to a close, the IRS is reminding taxpayers that the October 15 deadline is fast approaching. This extension, granted to those who requested more time to file their federal income tax returns, is a critical date to avoid penalties for late filing. While many have already filed, some taxpayers in disaster-affected areas and military combat zones may qualify for additional time. In this blog, we will cover everything you need to know about filing by the deadline, available resources, and special circumstances that may apply.
1. The Importance of the October 15 Deadline
For taxpayers who filed for an extension earlier in the year, the upcoming October 15 deadline is a final opportunity to submit 2023 federal income tax returns without facing late-filing penalties. Filing on time ensures compliance with tax laws and helps you avoid unnecessary fees. Electronic filing options, including IRS Free File, remain available to help you file efficiently and conveniently.
If you miss this deadline, you could incur penalties for failing to file, which accrue based on the amount of taxes you owe. Therefore, even if you can’t pay the full amount you owe by the deadline, it’s crucial to file your return to minimize penalties.
2. Available Filing Options
The IRS continues to offer a variety of electronic filing options to accommodate different needs. One of the most convenient services is IRS Free File, which provides guided tax preparation software to eligible taxpayers. This service is available for taxpayers with an Adjusted Gross Income (AGI) of $79,000 or less, and it includes preparation for important tax credits such as the Child Tax Credit and Earned Income Tax Credit.
For those who have a higher AGI and are comfortable preparing their own taxes, IRS Free File Fillable Forms is another free option that supports manual tax filing for federal returns. This option provides flexibility for taxpayers who are confident in navigating their tax forms independently.
Additionally, MilTax, a free tax filing service offered by the Department of Defense, is available to members of the military and qualifying veterans. MilTax allows users to file both federal income tax returns and up to three state returns at no cost.
3. Extensions for Disaster-Area Taxpayers and Military Members
Taxpayers residing in disaster-declared areas and military personnel serving in combat zones may be eligible for an extension beyond the October 15 deadline. Here are the key details:
- Disaster-Area Taxpayers: Residents of areas covered by FEMA disaster declarations may qualify for extended deadlines based on the severity and timing of the disaster. For example:
- Taxpayers in parts of Arkansas, Florida, Iowa, Kentucky, Mississippi, New Mexico, Oklahoma, Texas, and West Virginia have until November 1, 2024.
- Taxpayers in certain parts of Connecticut, Florida, Illinois, Kentucky, Louisiana, Minnesota, Missouri, New York, Pennsylvania, Puerto Rico, South Dakota, Texas, Vermont, Virgin Islands, and Washington state have until February 3, 2025.
- Those impacted by Tropical Storm Helene in Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia have until May 1, 2025.
- For taxpayers in Israel, the IRS has extended the deadline to September 30, 2025.
- Military Members and Families: Service members and their families in combat zones receive automatic extensions. Typically, they have 180 days after leaving the combat zone to file their returns and pay any due taxes. This extension applies to active-duty military personnel and civilians working in these designated areas.
4. IRS Resources to Help You File
The IRS provides several online tools and services to simplify the tax filing process. Taxpayers can access the IRS Individual Online Account, which provides up-to-date information on tax records, amounts owed, payments made, and more. If you’re new to using IRS online services, you’ll need to verify your identity using ID.me, a secure sign-in system that uses photo identification for verification.
Additionally, the IRS offers resources like the Interactive Tax Assistant, which can answer many common tax questions, and provides access to tax information in multiple languages.
5. Payment Options and Scheduling
Even if you’re not ready to file yet, it’s important to schedule your federal tax payments ahead of time. The IRS offers a variety of convenient electronic payment options, including:
- Electronic Federal Tax Payment System (EFTPS): A free service allowing taxpayers to schedule payments online or by phone.
- IRS Direct Pay: Allows you to make payments directly from a checking or savings account with no additional fee.
- Credit and Debit Cards: You can pay using your credit or debit card, although there may be a processing fee.
- IRS2Go App: The IRS’s mobile app enables users to access payment options from their mobile devices.
By planning your payment method early, you can ensure that everything is taken care of by the deadline and avoid any last-minute hassles.
6. Don’t Wait: File Before the Deadline
With only a short time left before the October 15 deadline, it’s essential to file your federal income tax return on time, even if you can’t pay the full amount owed. Filing today can help you avoid penalties and interest on unpaid taxes.
Remember, for those in disaster-affected areas or military combat zones, additional time may be available, but it’s important to verify your eligibility by checking the IRS website.
With the tax-filing deadline just around the corner, take advantage of the available resources to file your taxes easily and accurately. Whether you’re using IRS Free File, filing through a tax professional, or using other online tools, the key is to file on time to avoid unnecessary penalties.
If you’re ready to get started, visit the IRS Free File page or use IRS2Go to schedule your payments today.