2025 tax returns in US: When are taxes due and what happens if you miss the date?

People who put off filing their taxes may have to deal with late fees and other issues, with Investment Property Exchange Services reporting that over 31% of workers admit to waiting to do their taxes. Hence, it is important to know the deadline for filing your 2025 tax returns.

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“First, you may face a failure-to-file penalty. This is equal to 5% of the taxes you haven’t paid less any available credits, charged monthly for up to 5 months,” read Fidelity’s website. “If you’re more than 60 days late, the minimum penalty is the smaller of 100% of the taxes you owe or $485.”

“You could also get hit with a failure-to-pay penalty. This one is assessed at the smaller rate of 0.5% of your unpaid taxes, but it’s reapplied each month until you max out at 25% of your unpaid balance,” continued Fidelity. “If you owe both penalties in a given month, the failure-to-file penalty is reduced so that you are not paying more than 5% in penalties each month.”

The IRS has laid out a process for requesting a tax filing extension through various methods. Any of these will push your tax filing deadline to Thursday, October 15.

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“Use IRS Free File to electronically request an automatic tax-filing extension,” said the IRS’ tax filing extension website. “To request an extension by mail, file Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.”

“You can file by mail, online with an IRS e-filing partner or through a tax professional,” it added.

Individuals are required to submit tax filing extension request forms before tax season April 15.