IRS Issues Tax Filing Request to Thousands Before Fall Rush
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The Internal Revenue Service has issued a request to thousands of taxpayers who sought extensions for their 2024 federal tax returns to file them during the summer months.
The IRS emphasized that filing early can help taxpayers avoid the expected fall rush ahead of the October 15 deadline, potentially expediting payment plans or the resolution of issues that may arise during the filing process.
The agency promoted its IRS Free File program, which provides free, guided tax preparation online for individuals with an adjusted income of $84,000 or less.
The Internal Revenue Service building in Washington D.C. in 2021.
The Internal Revenue Service building in Washington D.C. in 2021.
Patrick Semansky/AP
Why It Matters
By encouraging early filing, the IRS seeks to reduce system bottlenecks caused by last-minute submissions in October—a period known for high traffic among extension filers.
Missing the filing deadline can trigger penalties, interest and potential complications with future filings.
The IRS Free File program's expansion to those earning $84,000 or less reflects ongoing efforts to make tax filing more accessible and cost-effective for everyday Americans.
What To Know
The IRS Free File program is available around the clock, offering guided, secure federal tax preparation and electronic filing at no cost for many Americans.
The IRS' Free File Fillable Forms are also accessible to all taxpayers, regardless of income.
These initiatives are designed to streamline the filing process, provide transparency and reduce errors for extension filers.
Multiple secure payment methods are available—including IRS Online Account, IRS Direct Pay, the Electronic Federal Tax Payment System and major credit or debit cards. Immediate electronic payment confirmation is also provided.
Taxpayers unable to pay their full balance may apply for a payment plan online. Short-term plans are available for those who owe less than $100,000, granting up to 180 days to pay.
Long-term installment agreements, available for balances under $50,000, offer up to 72 months to pay. While interest and penalties continue, active installment agreements reduce the failure-to-pay penalty by half.
What People Are Saying
Jay A. Soled, a professor and chair of the Department of Accounting and Information Systems at Rutgers Business School, New Jersey, previously told Newsweek: "Even with the tax-filing extension, interest will apply to any 2024 tax payments received after April 15. This means that unpaid tax-year 2024 tax balances will begin accruing interest, currently at the rate of seven percent per year, compounded daily, after April 15, 2025."
Richard D. Pomp, a professor of law at the UConn Law School, Connecticut, previously told Newsweek: "We are currently living through a total state of chaos at the IRS. Whenever possible, taxpayers abroad should file electronically and verify with screen shots and saved files, and copies of all documentation."
What Happens Next
The IRS is set to continue processing early extension filings over the summer. Its Free File resources are available until the October 15 deadline.
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