Tax Filing Deadlines for 2025: Key Dates & Penalties

Introduction

Staying on top of IRS tax deadlines is essential to avoid penalties, interest charges, and potential
audits. Whether you are an individual taxpayer, self-employed, or a business owner, knowing the
2025 tax due dates can help you plan and file on time.

This guide covers important 2025 tax deadlines, who needs to file, IRS penalties for late filing, and
how to request an extension.

1. Key IRS Tax Filing Deadlines for 2025

2. What Happens If You Miss a Tax Deadline?

2.1 Late Filing Penalty (IRC §6651(a)(1))

•  5% of unpaid taxes per month, up to 25% of the total tax bill.
•  Applies if you owe taxes and fail to file on time.

2.2 Late Payment Penalty (IRC §6651(a)(2))

• 0.5% of unpaid taxes per month, up to 25% total.
•  Applies if you file on time but don’t pay the full amount owed.

2.3 Interest Charges (IRC §6601)

•  Compounded daily based on the IRS interest rate.
•  Starts from the original due date until full payment is made.

Example: If you owe $5,000 in taxes and file 90 days late, you could face:

•  $250 late filing penalty (5% × 3 months).
• $75 late payment penalty (0.5% × 3 months).
•  Interest charges on the balance.

 How to Request a Tax Extension

3.1 Individual Tax Extension (Form 4868)

•  File Form 4868 by April 15, 2025, to get a 6-month extension until October 15, 2025.
• Important: An extension only extends the filing deadline, not the payment deadline.

3.2 Business Tax Extension (Form 7004)

•  File Form 7004 by March 17, 2025, for an automatic 6-month extension.
•  Applies to corporations, partnerships, and LLCs filing as corporations.

3.3 How to Avoid Late Payment Penalties

•  Estimate your taxes owed and pay by the original deadline.
•  Use IRS Direct Pay, EFTPS, or a credit/debit card.

 Quarterly Estimated Tax Payments for Self-Employed & Business Owners

Freelancers, contractors, and business owners who expect to owe over $1,000 in taxes must make
quarterly estimated tax payments:

•  Q1 Payment (Jan – Mar): April 15, 2025
•  Q2 Payment (Apr – May): June 17, 2025
•  Q3 Payment (Jun – Aug): September 16, 2025
•  Q4 Payment (Sep – Dec): January 15, 2026

Action Step: Use Form 1040-ES to calculate and pay estimated taxes.

 Common Tax Filing Mistakes to Avoid

• Failing to file on time and accumulating penalties.
• Not paying estimated taxes if self-employed.
•  Forgetting to file an extension if you need more time.
•  Missing FBAR reporting for foreign bank accounts.

  Frequently Asked Questions (FAQs)

1. What happens if I miss the April 15, 2025, deadline?
If you owe taxes and do not file, you will face a late filing penalty (5% per month). If you file but do
not pay, the late payment penalty (0.5% per month) applies.

2. Can I file an extension and delay paying taxes?
No, a tax extension only delays your filing deadline, not your payment deadline. You must estimate
and pay by April 15, 2025 to avoid penalties.

3. Do I have to pay quarterly estimated taxes?
If you are self-employed or owe more than $1,000 in taxes, you must make quarterly estimated
payments to avoid IRS penalties.

4. How do I pay my taxes online?
Use IRS Direct Pay, EFTPS, or pay by debit/credit card at www.irs.gov/payments.

5. What is the deadline for FBAR (Foreign Bank Accounts)?
FBAR (FinCEN Form 114) is due April 15, 2025, but has an automatic extension until October 15,
2025.

 Conclusion

Missing IRS tax deadlines can lead to penalties, interest, and IRS scrutiny. Whether you are an
individual, freelancer, or business owner, filing on time and making estimated payments will help
avoid unnecessary fees.

For expert tax planning, schedule a meeting with our CPA Anshul Goyal by clicking at
https://calendly.com/anshulcpa/ now.

 About Our CPA

Anshul Goyal, CPA, EA, FCA, is a licensed Certified Public Accountant in the United States and an
Enrolled Agent admitted to practice before the IRS. He specializes in tax compliance, IRS penalty
resolution, and business tax planning for American businesses and Indian residents in the U.S.