Filed a Tax Extension? What You Should Do Before October 15

So you filed a tax extension earlier this year, we're still in September, you may feel like you still have plenty of time to finish your return. But with the October 15, 2026 deadline approaching, now is the time to make sure everything is in order.

An extension gives you additional time to file your income tax return. However, it generally does not give you additional time to pay taxes you owe. Taking care of the remaining work early can help you avoid last minute problems and give you time to address anything that may be missing.

Your October 15 Tax Extension Checklist

Here is a useful checklist for you to review what needs to be done ahead of time.

1. Gather Your Remaining Tax Documents

Start by making sure you have all the documents needed to complete your return. Depending on your situation, these may include:

• W-2s and 1099s
• Interest and dividend statements
• Brokerage or investment statements
• Mortgage and property records
• Business income and expense records
• K-1s from partnerships or S corporations
• Records for rental properties
• Receipts and documentation for applicable deductions and credits

If you're still waiting on a document, don't wait until October to start looking into it. Missing information can delay the completion of your return.

2. Make Sure Your Books and Records Are Up to Date

For small business owners, filing a personal return may require information from a business return or other financial records.

If you are self employed, own a rental property, or receive income through a partnership or S corporation, make sure your income and expenses are properly recorded and that your accounting records are up to date.

Taking care of bookkeeping issues before your tax return is prepared can make the filing process much smoother.

3. Review Your Tax Payments

Remember that an extension generally gives you more time to file, not more time to pay.

If you made estimated tax payments or paid an amount when requesting your extension, review your records so you know how much has already been paid. If you expect to owe additional tax, understanding your potential balance before October 15 can help you plan for it.

The IRS generally recommends taxpayers estimate their total tax liability, subtract payments and credits, and pay any remaining amount as soon as possible to help minimize potential penalties and interest.

4. Check for Missing K-1s and Other Information

If you receive a K-1 from a partnership, S corporation, trust, or estate, make sure you have the information needed for your individual return.

K-1s can sometimes arrive later than other tax documents, specially when a business or entity itself filed an extension. If you're still waiting on information, communicate with the entity or your tax professional as soon as possible.

5. Don't Wait Until October 15

October 15 may seem like a long way away, but tax issues can take time to resolve.

You may discover that:

• A tax document is missing
• Your bookkeeping needs to be corrected
• A K-1 hasn't arrived
• Business or rental expenses need additional documentation
• You owe more tax than expected
• Your return requires additional review

Starting now gives you time to address these issues rather than trying to resolve everything in the final few days before the deadline.

What If You Still Aren't Ready?

If you filed an extension but haven't started working on your return, don't ignore the upcoming deadline.

Start by gathering your documents and determining what information is still missing. If you work with a tax professional, contact them as soon as possible so there is enough time to prepare and review the return properly.

The goal of an extension is to give you additional time to file, not to create another last minute deadline.

If you filed a tax extension, September is a good time to get organized. Gather your documents and address any missing information before the October 15 deadline.

Getting started early can make the filing process easier and give you more time to identify potential tax planning issues.

At DRS Accounting PC, we work with individuals and small business owners on tax preparation, tax planning, bookkeeping, and year round accounting support. If you filed an extension and still need help getting your return ready for October 15, schedule a complimentary consultation with us, we're here to help.