We have officially entered the final week of the 2025 tax filing season. At this stage, the goal is no longer just “doing taxes.” It is about crossing the finish line accurately and avoiding unnecessary IRS interest or penalties.

Whether you are planning to file your full return by Wednesday or move forward with an extension, there are three critical steps to take before the deadline.

1. Secure Your Payment

A common misconception is that an extension provides more time to pay. It does not. The IRS expects a good-faith estimate of your tax liability to be paid by April 15.

If you are filing:
Ensure your bank details are correct for electronic withdrawal.

If you are extending:
You must submit an extension (Form 4868) and pay your estimated tax liability by April 15.

Pro tip: If you are unsure of the exact amount, it is generally better to slightly overestimate. Overpayments can be refunded, but interest on underpayments cannot be reversed.

2. Audit Your Inbox for Corrected Forms

Check your mail and email portals one last time. It is common for brokerage firms to issue corrected 1099s in early April.

If you filed earlier in the season and receive a corrected form, an amended return may be required. If you have not filed yet, ensure you are using the most recent version of your documents to avoid mismatched reporting.

3. Don’t Miss Contribution Deadlines

While an extension gives you more time to file, it does not extend the deadline for certain contributions.

Contributions for the 2025 tax year must be made by April 15 for:

• Traditional or Roth IRAs
• Health Savings Accounts (HSAs)

If you are looking for a last-minute opportunity to reduce your taxable income, this is your final window.

How PSA CPA Is Supporting Clients This Week

The final week is about execution. Our Rockville team is currently focused on:

• Processing extensions accurately and on time
• Assisting clients with last-minute filing preparation

Don’t Panic. Prioritize.

Seven days is enough time to get organized with the right approach. Focus on the key steps, and avoid rushing through important decisions.

If you need assistance this week, PSA CPA is available to help with extensions and final filing preparation.

Call Us: (301) 879-0600
Email Us: contact@psacpa.com
Book a Consultation

Disclaimer: This article is for informational purposes only and does not constitute legal or tax advice.