The filing deadline is the date by which taxpayers are required to file their federal income tax return with the IRS. For most individual taxpayers, the filing deadline is April 15 of each year, unless that date falls on a weekend or holiday, in which case the deadline is moved to the next business day.
Taxpayers who are unable to file by the deadline can request an automatic six-month extension by filing Form 4868, giving them until October 15 to file their return. However, the extension only applies to the filing of the return, not to the payment of taxes. Taxpayers must still estimate and pay any taxes owed by the original filing deadline to avoid penalties and interest.
Failing to file by the deadline can result in the Failure to File Penalty, which is 5% of the unpaid tax per month, up to 25%. Timely filing is essential to avoid penalties and ensure compliance with tax laws.