When Do You Have To Pay Taxes? (Tax Extension Guide)

Ah, taxes — America’s least favorite annual tradition. Whether you’re a seasoned taxpayer or a first-timer trying to decipher IRS-speak, understanding when taxes are due can save you from costly mistakes. 

So, when do taxes have to be filed? In this guide, we’ll break down key dates, what to do if you can’t pay, and how to avoid penalties (yes, there are ways). Stick around, and you’ll learn not just when to file taxes, but also how to make tax season a little less painful.

Table of contents

• When do taxes have to be paid?

• How long do I have to pay my taxes?

• How to get an extension 

• What to do if you made a mistake and need to refile your tax return?

• What happens if you don’t file and pay taxes?

• What if I can’t afford to pay my taxes? 

When do taxes have to be paid?

Taxes are due on specific dates depending on your situation. The main tax day for most filers is April 15th, 2025. If you owe estimated taxes, you might also need to make quarterly payments to avoid penalties. These deadlines are non-negotiable, so missing them could cost you big time.

If you’re wondering, “when are taxes due?” the answer depends on whether you’re filing for the previous year or paying quarterly estimates. Either way, knowing the tax deadline and the tax due date will help you stay on track with your obligations.

How long do I have to pay my taxes?

While the tax day for most filers is April 15th, 2025, extensions and payment plans are available. Keep in mind that requesting an extension doesn’t postpone the tax due date 2024 or 2025 for the taxes owed. If you fail to pay on time, interest and penalties can quickly add up.

For late filers, the tax extension deadline can buy you time, but it’s better to file and pay as much as possible before the original due date.

Tax filing deadlines

Mark these 2025 dates to ensure you don’t miss your tax filing deadline:

How to get an extension 

Need extra time? Filing for a tax extension deadline is simple:

• File online through the IRS: Use IRS Free File or Form 4868.

• Fill out a paper form: Mail your completed Form 4868 to the appropriate IRS address.

• Use tax software: Most online programs make requesting extensions easy.

Even if you get an extension, taxes owed must be paid by April 15th, 2025 to avoid penalties.

What to do if you made a mistake and need to refile your tax return?

Mistakes happen: in life and on tax returns. Fortunately, the IRS allows you to correct errors by filing an amended return. Here’s what you need to do if you discover a mistake after submitting your taxes:

Determine if you need to file an amended return

Not all mistakes require you to refile. Simple math errors or missing forms may be corrected by the IRS without your intervention. However, you’ll need to file an amended return (Form 1040-X) if you:

• Reported incorrect income.

• Missed claiming a deduction or credit.

• Selected the wrong filing status

Gather necessary documents

Before starting, collect all relevant paperwork, such as:

• Your originally filed tax return

• Supporting documents for the corrections (e.g., W-2s, 1099s, receipts)

• IRS notices, if applicable

Use form 1040-X

File Form 1040-X, the IRS’s official form for amending tax returns. It allows you to explain changes to your original return and update the corrected figures. Ensure you include all necessary schedules and attachments.

File your amended return electronically or by mail

As of recent IRS updates, many amended returns can now be filed electronically. If your filing isn’t eligible for e-filing, mail the completed Form 1040-X to the IRS address listed in the form’s instructions.

Pay any additional taxes owed

If your correction results in additional taxes owed, pay them as soon as possible to minimize penalties and interest. The IRS provides payment options, including direct debit, credit card, and payment plans.

Wait for the IRS to process your amendment

Processing an amended return can take up to 16 weeks. Use the IRS “Where’s My Amended Return?” tool to track your submission’s progress.

Double-check your revised return before submitting it to avoid repeating errors. If you’re unsure, consider consulting a tax professional for guidance.

What happens if you don’t file and pay taxes?

Missing the tax filing deadline or failing to pay your taxes can result in serious consequences, including costly penalties:

• Late filing penalties: Up to 5% of unpaid taxes for each month your return is late.

• Late payment penalties: 0.5% of unpaid taxes per month after the due date.

• Interest charges: Daily accrual on any unpaid amount.

• If you missed the last day to file taxes or couldn’t meet the tax deadline, it’s definitely a better-late-than-never situation: file those taxes as fast as possible to minimize penalties.

What if I can’t afford to pay my taxes? 

If you’re struggling to pay your taxes, here are some practical options:

• Take on a side gig: Increase your income temporarily.

• Sell unused assets: Generate cash by decluttering.

• Make partial payments: The IRS allows installment agreements.

• Take out a personal loan: Use MoneyLion’s comparison tool to compare personal loan offers and choose the best rate for your situation.

Make Tax Less Taxing

Understanding when do you have to pay taxes is key to staying ahead of deadlines and avoiding unnecessary stress. With preparation and smart planning, tax season doesn’t have to feel like a root canal. 

Need more tips? MoneyLion is here to help you crush your 2025 tax goals.

FAQs

Which type of tax is due on April 15th of each year?

Federal income tax for individuals is due on this date. The exact amount depends on your income and where you fall in the IRS tax brackets.

How long can you go without filing taxes?

The IRS can impose penalties and interest immediately, so file as soon as possible if you miss the deadline.

What happens if you don’t file your taxes but don’t owe anything?

While you won’t owe late payment penalties, you could miss out on refunds or credits.

Do you have to pay taxes on donations received?

Generally, no, but exceptions apply to large or taxable gifts.

When is the last day to file taxes?

For most people, it’s April 15th, 2025, unless you file for an extension.

Can you do a payment plan for taxes?

Yes, the IRS offers installment agreements to make paying taxes more manageable.