Overview

• April 15, 2025, is the final day to file 2024 federal tax returns or request a six-month extension using Form 4868, though payments remain due today to avoid penalties.
• Significant tax changes for 2025 include higher standard deductions, adjusted tax brackets, and increased retirement contribution limits, affecting liabilities and refunds.
• The IRS is promoting electronic filing tools like Free File and Direct File to reduce errors and expedite refunds, but operational disruptions persist due to staffing cuts and DOGE interference.
• Residents in federally declared disaster areas, including parts of Georgia, Tennessee, and Arkansas, have extended deadlines, with some allowed to file as late as November 3, 2025.
• Failure to file or pay taxes on time can result in steep penalties, including a 5% monthly failure-to-file penalty and a 0.5% monthly failure-to-pay penalty, both capped at 25%.