“File – even if you can’t pay,” – Andy Phillips, vice president of The Tax Institute at H&R Block

“Many people think if they can’t pay, they shouldn’t file, but that’s a big mistake. The failure-to-file penalty is much higher than the failure-to-pay penalty. The penalty for failing to file on time is ten times the penalty for just failing to pay on time. Note that in addition to the failure to file penalty you will also owe interest on the underlying tax liability and penalty until you pay it.

If you have a tax liability after you complete your return you have options when it comes time to pay the liability. Some taxpayers that have a tax liability will request a payment plan to spread the payments over time.”

“Don’t panic — but don’t procrastinate either,” – Chris Rivera, CPA and founder of The Ecommerce Accountants

“You still have time, but it’s critical to get organized today. Start by gathering all your tax documents: W-2s, 1099s, and any statements related to income, deductions, or credits. If you think you won’t make the April 15 deadline, file for an automatic extension. It gives you until October 15 to file — but remember, it doesn’t extend the time to pay any taxes owed. Estimate your liability and submit a payment with the extension to avoid interest and penalties.”

Work with a tax professional unless your returns are simple – Andrea Harrington, CPA and partner at Tax & Advisory Services at FML

“Unless your return is simple enough to e-file yourself online, your tax professional should guide you in compiling the necessary information for them to complete your return. Work with your tax professional to estimate any balance due to file an extension and make an estimated payment — then do your best to round up all the information in an organized fashion so that the return can be filed promptly after April 15,” she says. If you need an extension, talk to your accountant about it, she adds.

“Check to see if the IRS extended your tax deadline,” – Logan Allec, CPA and owner of tax relief company Choice Tax Relief

“If you live in an area within a federally declared disaster area, it’s possible that April 15 this year may be just another day for you. For example, the IRS extended the tax payment and filing deadline until October 15 for individuals who live or have a business in Los Angeles County, Calif. This means that folks in Los Angeles County who haven’t filed their taxes yet really don’t have to rush to do anything at the moment; they don’t even have to file an extension.”

File an extension if you need it – Marie Kelly, CPA and founder of Kelly CPA

“For last-minute tax return tasks, use an accredited online tax service to file your extension electronically. They’ll guide you through the process to ensure everything is done correctly. The IRS offers free services for filing your extension, so just be sure to use an accredited IRS program and file electronically to ensure everything is submitted on time,” she says, adding that “this will help you avoid late filing penalties, which can add up quickly.”

File IRS Form 4868 if you need more time filing your taxes – Michele Cagan, CPA and author of “Personal Finance in Plain English: 300+ Essential Terms You Need To Know”

“If you think you won’t be able to file in time, get ready to file an extension. You get that automatic 6-month extension by filing IRS Form 4868. You may also need to file a separate state extension form. You can make a payment with your extension. If you can’t afford the whole thing, any amount you pay will reduce interest and penalties.”

Work with a tax preparer AND a tax organizer – Jennifer Kalla, CPA and clinical faculty member at the Opus College of Business at the University of St. Thomas

“If you are working with a tax preparer, you are likely to receive a tax organizer, which includes a series of questions and requests for information. It’s important to take the time to complete it and make sure you’ve provided all the requested information, so your preparer is aware of all tax related events that occurred this year, doesn’t miss any income sources and claims the maximum amount of available deductions! 

In addition, make sure you are in communication with your tax preparer to answer any questions, verify any missing information and ensure the timely filing of your return or extension.”

Get organized for next year now – William F. Spencer, CFP, director and wealth planner at Crestwood Advisors

“Take a deep breath, get your documents in order, and prepare/file your return or file an extension,” he says. “Once that is complete, think about next year. Make a folder in a drawer or online where you can organize and store tax forms as they come in, so you can make sure you timely file your return in the years ahead.”

If you need a tax preparer this late, prepare to do your homework – Billy Angelo, CPA and managing partner of Angelo & Associates CPAs

“If you haven’t filed your taxes yet, the first order or business is deciding who is going to file for you. Are you planning on doing it yourself, or do you normally hire someone? If you’re in the market for a new tax preparer, and it’s already this late into tax season, you’re going to have an extremely difficult time getting someone reputable to pick up the phone.”

“Use last year’s taxes as a guide to help you quickly gather documents,”– Brian Tullio, CFP and wealth manager at Fairway Wealth Management LLC

“Using your prior year tax return as a guide, compile a list of the tax documents you received in the prior filing year, and locate copies of the same documents for the current filing year; you’ll likely receive an updated copy every year. That could include documents like a W-2 so long as you’re still working, Form 1099s for investment accounts or an item of income, or Form K-1s from a pass-through entity.

After organizing those documents, think about any unusual or one-time activities that occurred for the year that may have a tax consequence. Events like buying or selling a home, getting married, getting divorced, having a child, or retiring will all be reflected – to some extent – in your tax return.”

Make sure you have all the necessary documents – and copies, too – Jeffrey Wood, CPA, CFP and partner at Elysium Financial 

“My last-minute tax filing checklist would include making sure you have all the necessary documents and forms, such as your W-2, 1099s, investment statements, receipts, mortgage statements, and any other deduction-related documents. Be sure that you determine all the deductions and credits you qualify for, such as the child tax credit, student loan interest, home office deduction, medical expenses and any other personal and business deductions. 

If you haven’t filed your taxes yet, there is still time to get everything in order. If you need to file for an extension, use form 4868.”

Check if your area has been affected by a natural disaster – Bobbi Rebell, CFP and personal finance expert at CardRates.com and BadCredit.org

“One thing that may help is if you live in a region that has had a natural disaster. Even if you have not directly been impacted by the disaster, if your area received an extension, you may qualify for an extension not just to file your taxes but also to pay your taxes. 

The most important thing to do if you haven’t filed your taxes yet is to take action and file for an extension. Don’t procrastinate! Everyone can get a 6 month extension on filing- so no stress. It is form 4868 and you can get it on IRS.Gov. That said, you do have to pay your taxes by the due date.”

“Get organized – quickly,” – Eric Blattner, CFA, CFP and managing partner at Divvi Wealth Management

“The IRS provides a nice list to help answer the inevitable question, ‘What am I forgetting?’ Some documents may have come in the mail, but many are delivered electronically. The list can help make sense of the alphabet soup that is tax filing forms, too. There is a separate site with more detail for those who are filing for the first time as self-employed.

Also, he notes, “Start thinking about next year. Tax planning is a lot easier when you have 6-8 months to prepare.”

Think about if an IRA contribution is still possible — Henry Yoshida, CFP, CEO and founder of Rocket Dollar

“For folks who are due to receive a refund or owe taxes, you could do a quick evaluation to see if a 2024 year contribution to an IRA account may change the amount owed for taxes. Individuals are allowed to make a contribution to an IRA for the prior year up until the April 15 deadline. The potential benefits of this are due to the possibility of being able to deduct your IRA contributions for taxable income purposes.”

Think about your retirement and IRAs – Eric Mangold, FA, CWS and Founder of Argosy Wealth Management

“If you haven’t filed your taxes yet, there still are some moves that you can possibly make to help for your retirement. If you are self-employed you still may be able to set up a retirement plan like a SEP (Simplified Employee Pension) and fund it for last year. Not only will it help you save for retirement it can also potentially lower your taxes. If you are an individual who hasn’t filed your taxes yet, you still can open up and fund an IRA – either a Roth depending on your income or a Traditional IRA. Anytime you are putting more money away for your own retirement, that is going to be a good thing for you today as well as tomorrow.”