So... Tax Day came and went. It snuck in like a thief in the night (literally), and maybe you weren't ready.
Don’t panic - yet. The IRS offers an extension to file your tax return. But here’s the kicker: it does not give you more time to pay. If you owe money and didn’t pay by April 15, the IRS already knows - and yes, they’re watching.
Let’s walk you through how this works, why it matters, and how Tax Resolution Accounting (TRA) can help you dodge financial judgment.
An extension gives you more time to file your tax return - until October 15, 2025.
But the deadline to pay your taxes was still April 15, 2025. If you didn’t pay by then, the IRS started charging penalties and interest. They're relentless like Pharaoh, minus the chariots.
Late Filing Penalty: 5% of what you owe, every month (up to 25%). Ouch.
Late Payment Penalty: 0.5% of what you owe, monthly. Not as bad, but still painful.
Interest: Currently around 7%, and it compounds daily - like a bad sin that just keeps growing.
If you missed the April 15 deadline, you can still file Form 4868 to get more time. Here's how:
3. Mail It – Yes, like a caveman. Print Form 4868 and get it postmarked ASAP.
Americans living overseas – You get an automatic 2-month extension (until June 16).
Military in combat zones – You get 180 extra days after leaving the zone.
Disaster survivors – If FEMA has declared your area, you may get more time too.
Check the IRS website for more information.
Just because the IRS gave you more time doesn’t mean your state will. Some states piggyback off the federal extension; others want their own form, their own payment, and probably your firstborn. TRA can help you figure it out.
Let’s be real: the IRS is not forgiving. But we are - sort of. TRA helps clients:
Did the deadline sneak up on you? Are you already seeing IRS letters in your dreams?
Let’s get it taken care of before it becomes a full-blown nightmare.
