The IRS has confirmed that April 15, 2026, marks the deadline for filing your 2025 tax return and paying any taxes owed. Missing this date triggers penalties and interest charges that accumulate quickly, so filing on time remains your best move even if you can't pay the full amount upfront.
If you lack the funds to cover your tax bill, you have options that beat ignoring the deadline. Filing your return on time while paying whatever you can demonstrates good faith to the IRS. The agency charges interest on unpaid balances, currently running at the federal rate plus 8 percent, compounded daily. Penalties for late payment add another 0.5 percent monthly to your outstanding balance.
The IRS offers several payment plans for taxpayers short on cash. Short-term extensions give you 120 extra days to pay without a formal agreement. For longer-term needs, you can set up an installment agreement that breaks your bill into monthly chunks. Online setup through IRS.gov takes minutes for balances under $25,000. The agency charges a setup fee ranging from $31 to $225 depending on the payment method you choose.
For those facing genuine hardship, the IRS has relief programs. Currently Not Collectible status temporarily pauses collections while you face financial crisis, though interest and penalties continue accruing. This option requires documentation of your circumstances.
A few other paths exist. Requesting an extension (using Form 4868) gives you six extra months to file, pushing your deadline to October 15. However, this only delays filing, not payment. Pay-by-installment credit cards through certain providers offer another route, though interest rates typically exceed IRS rates significantly.
The key move is not ignoring the April 15 deadline. Filing late racks up a failure-to-file penalty of 5 percent per month, c