October 15 Is Coming: Is Your Tax Return Ready?
If you filed an extension for your 2025 individual tax return, the October 15 deadline is approaching quickly.
An Extension Gives You More Time to File — Not More Time to Pay
One of the most important things to remember is that an extension provides additional time to file your tax return, but it does not extend the time to pay any taxes that may be due.
If you made an estimated payment when you filed your extension, that payment will be applied toward your final tax liability. If your tax liability is greater than the amount already paid, additional tax may be due when the return is filed.
Do You Have Everything Ready?
If your return is still being prepared, take a moment to make sure you have provided any outstanding information or documents, including:
- W-2s and 1099s
- K-1s from partnerships, S corporations, or trusts
- Brokerage and investment statements
- Rental property information
- Business income and expense information
- Charitable contribution records
- Estimated tax payment information
- Any other documents or information requested by your tax preparer
If you are waiting for a document, please let us know so we can determine what is still needed to complete your return.
Don’t Wait Until October
Although October 15 may seem like there is still plenty of time, waiting until the last couple weeks can make it more difficult to resolve missing information or unexpected issues that may arise during preparation.
Getting your information to us as soon as possible gives us more time to prepare and review your return carefully.
If You Haven’t Submitted Everything Yet
If Pearson & Company is preparing your extended individual tax return and you still have information or documents outstanding, now is the time to send them to us.
If you’re unsure whether we have everything we need, please contact our office. We’d be happy to help you determine what is still needed.
October 15 will be here before you know it. Let’s get your return finished and filed!
Please note: This newsletter is intended for general informational purposes and does not constitute individualized tax advice. Your specific tax situation may require additional considerations.