Extended Tax Deadline: Moves to Make Before October 15
Beware penalties if you don't get your tax return to the IRS on time.

Taxpayers who needed more time to file their 2018 federal tax returns may have received an automatic six-month extension from the IRS. That extended deadline of October 15 will soon be here.
Keep in mind that the extended deadline gives you extra time to file your return—but not extra time to pay any tax owed. Tax payments are generally due by April 15. People who pay late are typically hit with a late-payment penalty of 0.5% per month plus interest. If you didn’t already pay the tax you expect to owe, paying it now will limit the penalty damage. Extension filers who miss the October 15 deadline will also incur a late-filing penalty, which is typically 5% per month but can run as high as 25% of the amount due.
The extended filing deadline offers a chance to make a few smart moves. The self-employed can make 2018 contributions to a SEP IRA, for example, until October 15, according to Gil Charney, director of the Tax Institute at H&R Block.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The mid October deadline also offers a mulligan to taxpayers who contributed too much to a traditional or Roth IRA for 2018. Taxpayers can withdraw excess 2018 IRA contributions (including earnings) by October 15 to avoid a 6% penalty. If you already filed a 2018 tax return, you may need to file an amended return.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

-
September Fed Meeting: Live Updates and Commentary
The September Fed meeting is a key economic event, with Wall Street keyed into what Fed Chair Powell & Co. will do about interest rates.
-
Ask the Editor: Questions on 529 Plan Rollovers to a Roth IRA
Ask the Editor In this week's Ask the Editor Q&A, we answer four questions from readers on transferring 529 plan money to a Roth IRA.
-
The Final Countdown for Retirees with Investment Income
Retirement Tax Don’t assume Social Security withholding is enough. Some retirement income may require a quarterly estimated tax payment by the September 15 deadline.
-
Standard Deduction 2025 Quiz: How Much Do You Really Know?
Quiz Test your knowledge of IRS rules that impact how much money you keep in your wallet.
-
IRS in Turmoil: GOP Budget Cuts and Staff Shake-Ups Threaten Taxpayer Services
IRS Republican lawmakers advance a controversial budget bill that would gut IRS funding further, risking your 2026 tax filing season.
-
Cruise Lines Sue to Block Hawaii’s New Climate Tourism Tax
State Tax Your vacation to the Aloha State could come at a higher price tag next year. Here’s why.
-
21 Last-Minute Gifts for Grandparents Day 2025 to Give Right Now
Holiday Tips Last-minute gifting is never easy. But here are some ideas to celebrate Grandparents Day.
-
New $6,000 'Senior Bonus' Deduction: What It Means for Taxpayers Age 65-Plus
Tax Changes If you’re an older adult, a new bonus tax deduction could provide a valuable tax benefit. Here's how it works.
-
Claiming the Standard Deduction? Here Are 10 Tax Breaks For Middle-Class Families in 2025
Tax Breaks Working middle-income Americans won’t need to itemize to claim these tax deductions and credits — if you qualify.
-
Over Age 65? New $6,000 'Senior Bonus' Deduction Is Available Even If You Itemize
Tax Changes If you’re an older adult, a new bonus tax deduction could provide a valuable tax benefit. Here's how it works.