The October 15, 2025 Tax Deadline Is Closer Than You Think: Here’s What You Need to Know

If you filed for a tax extension earlier this year, consider this your reminder: October 15, 2025 is the final deadline to submit your 2024 tax return. Whether you’re an individual taxpayer or a C-Corporation, this date is your last opportunity to file without facing significant penalties.

Here’s what you need to know to stay on track and avoid costly consequences.

What’s Due on October 15

Form 1120 – Corporate Tax Return If your business operates as a C-Corporation and you requested an extension, your federal tax return (Form 1120) is due by October 15, 2025. This is your final opportunity to file for the 2024 tax year without incurring additional penalties.

Keep in mind that while the return was extended, any tax payments were still due by April 15, 2025. If you didn’t pay the full amount by then, interest and penalties have already started accumulating.

Form 1040 – Individual Income Tax Return For individuals who requested an extension on their personal income tax return (Form 1040), October 15 is also the deadline to file. This extension applies to all types of individual returns, including those for:

• Freelancers and gig workers

• Small business owners

• Individuals with investment or rental income

• W-2 employees with complex filing needs

  
  

Consequences of Missing the Deadline

Failure to file by October 15 can result in significant penalties and interest. For both corporations and individuals:

• Late-filing penalties begin at 5% of the unpaid tax per month, up to a maximum of 25%

• Interest continues to accrue on unpaid balances

• Underpayment penalties may also apply if you didn’t pay enough by the original due date

  
  

Even if you’re unable to pay your full tax bill, it’s important to file by the deadline to limit further penalties.

Steps to Take Before the Deadline

Review Your Documents Gather all necessary documents, including W-2s, 1099s, business income and expense records, investment statements, and any other supporting information.

Verify Estimated Tax Payments Confirm that any estimated tax payments you made during the year are correctly reported on your return.

Check for Credits and Deductions Look for available tax credits and deductions such as the Child Tax Credit, Earned Income Tax Credit, retirement contributions, and qualified business expenses. These can significantly reduce your tax liability.

Submit Your Return Electronically E-filing is the fastest and most secure way to submit your return. It minimizes processing delays and helps ensure you receive any refund promptly.

Final Thoughts

The October 15, 2025 deadline for the 2024 tax year is coming quickly. If you filed for an extension earlier this year, this is your final opportunity to file without additional penalties.

Whether you’re an individual or a business, now is the time to finalize your return. Don’t let time slip away—get organized, reach out to your tax professional, and make sure your return is submitted on time.

If you need support, our team at Nuve is here to help. Contact us today and let’s get it done right.

Disclaimer:

The information provided in this blog is intended for general guidance and educational purposes only. It is not a substitute for personalized professional advice. Every individual's financial situation is unique; therefore, you should review your specific needs and consult with qualified professionals, such as certified public accountants or tax advisors, before making any decisions. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or currency of the content. By using this blog, you acknowledge that you have read and understand this disclaimer, and you agree to use the information responsibly, in conjunction with advice from qualified professionals, to make informed financial decisions.