A federal tax-filing extension does not extend the deadline to pay taxes owed; federal income tax payments remain due by the regular April 15 deadline.
April 15, 2025
high
temporal
Distinction between filing deadline extension and payment deadline.
A 2024 Oxford Economics analysis estimated that taxpayers could save an additional $50 billion through larger refunds or reduced 2026 taxes, representing an 18% increase over the $275 billion in refunds the IRS sent for 2024 federal tax returns.
October 21, 2024
high
temporal
Estimate and comparison from an Oxford Economics report quantifying projected additional taxpayer savings associated with new federal tax provisions.
The IRS sent $275 billion in refunds to nearly 94 million taxpayers for overpayments on their 2024 federal tax returns.
January 01, 2024
high
temporal
Annual IRS refund total and recipient count for the 2024 filing year.
In a typical year, about 20 million Americans (roughly 13% of all taxpayers) request an IRS tax-filing extension.
high
statistical
Baseline statistic describing how many taxpayers request extensions in a typical year.
An IRS tax-filing extension is provided automatically upon request and grants taxpayers an additional six months to prepare and file their federal income tax returns.
high
procedural
How automatic extensions operate and their duration.
The IRS charges a failure-to-file penalty equal to 5% of the unpaid tax for each month or part of a month a return is late, up to a maximum of 25%, and may waive the penalty if the taxpayer provides a reasonable explanation.
high
procedural
Standard failure-to-file penalty rates and waiver possibility.