October 15 IRS Tax Deadline: Avoid Late Filing Penalties | Lucy Petry Explains on CW39

The October 15 IRS tax filing deadline is approaching! If you requested an extension on your 2025 federal income tax return, time is running out to file and avoid potential late-filing penalties. In this segment, CPA and tax attorney Lucy Petry discusses the importance of meeting the October 15 deadline, what taxpayers should understand about IRS extensions, and the potential financial consequences of filing late. While an extension gives taxpayers additional time to file their return, it does not extend the original deadline to pay taxes owed. Understanding this distinction can help taxpayers avoid unnecessary penalties and interest. In this video: -What the October 15 IRS filing deadline means -Who needs to file by October 15 -The difference between a tax filing extension and a payment extension -Potential IRS penalties for filing late -What to do if you cannot afford to pay your tax bill -Last-minute tips for taxpayers preparing to file Whether you're an individual taxpayer, business owner, or someone who requested an extension earlier this year, understanding your tax obligations is essential. 🔔 Subscribe for more tax, financial, and legal insights from Lucy Petry. Need financial or legal guidance? Contact 713-859-8000 or visit www.petryadvisory.com #LucyPetry #PetryAdvisory #irs #taxdeadline #october15 #taxextension #taxpenalties #taxfiling #taxattorney #cpa #taxtips #houston #denver