If you’re just now getting started on your taxes with the upcoming deadline looming, you’re not alone. A recent study found that 25% of Americans admit to hating taxes so much, they don’t file until the last minute.
At this point, the goal is simple: file on time if you can. If not, take the right steps now to avoid penalties and stay in good standing with the IRS.
Here’s what to focus on before April 15th arrives.
Last-minute tax filing checklist
If you only have time for the essentials, start here.
- Gather all income forms, including W-2s, 1099s, and investment statements.
- Confirm your filing status and any dependents.
- Double-check your personal and bank account information.
- Choose how you’ll file (online software is typically fastest).
- Review your return before submitting.
- If you can’t finish on time, file a tax extension.
Gather your documents together quickly
Start by pulling everything you need into one place for review. Missing documents are the most common reason people get stuck at the last minute. Depending on your personal circumstances, you may need some or all of the following documents for filing.
- W-2 forms from your employer
- 1099 forms for freelance work, interest, or other income
- Any documents tied to deductions or credits
- Health insurance forms, if applicable
- Last year’s tax return for reference
Don’t wait for every document to be perfect. Start with what you have and fill gaps as you go.
Make sure you’re including all income
When you’re rushing, it’s easy to overlook income sources that still need to be reported.
Be sure to account for:
- Freelance or side income
- Unemployment benefits
- Interest or investment income
- Digital assets, such as cryptocurrency
Taking a few extra minutes here can help you avoid corrections or delays later on.
Choose the fastest way to file
Speed matters at this stage. For most last-minute filers, online tax software is the fastest and simplest option.
| Filing option | Best for | Key considerations |
| Online tax software | Simple to moderate returns | Fast, guided process |
| Free filing programs | Eligible individuals | May have income limits |
| Tax professionals | More complex situations | Limited availability close to deadline |
If you can’t finish on time, file a tax extension
If you’re not going to be ready by the deadline, filing a tax extension is the next best step.
If you live in Maryland, your federal extension may cover your state filing as well. However, if you expect to owe Maryland state taxes, you’ll need to submit a state extension (Form 502E) and include a payment to help reduce penalties.
What to know about tax extensions
Filing an extension is a responsible option if you need more time to file accurately.
- An extension gives you additional time to file your return.
- It does not extend the time to pay any taxes owed.
- You should estimate and pay what you can to reduce penalties and interest.
- Extensions can be filed quickly online.
If you miss the deadline without filing or paying, penalties can apply. The penalty for not filing is typically higher than the penalty for not paying, which is why submitting an extension is an important step if you need more time.
Before you submit, check these commonly missed items
Even at the last minute, a quick review can make a difference.
Take a moment to check:
- IRA contributions that may still apply to the prior year
- Student loan interest deductions
- Education-related credits
- Accuracy of your Social Security number and bank details
Set yourself up for an easier process next year
If you’re planning ahead for next year, having the right accounts and tools in place can make tax season easier.
- Keep tax documents organized throughout the year.
- Set aside money regularly if you have non-W-2 income.
- Consider using a dedicated savings account for taxes.
SECU offers savings account options that can help you stay organized and set aside funds throughout the year.
Small habits can reduce stress and help you stay ahead next tax season.
Wrap up your taxes with confidence
Even if you’re filing at the last minute, you can still take the right steps to stay on track. Focus on what matters most, use the tools available to you, and don’t hesitate to file an extension if you need more time.
Getting it done accurately is what matters most, even if that means taking a little extra time to file the right way. Have other questions? Reach out to our team for the answers.
