If you requested an extension for your 2024 federal tax return (with Form 4868), the final deadline was October 15, 2025.

If you didn't manage to file it, there's still time to stop interest and penalties from piling up.

⚠️ Why Acting Now Is Key

• Penalties grow over time. The failure-to-file penalty is 5% per month on the unpaid balance, up to a maximum of 25%.
• The failure-to-pay penalty is smaller (0.5% per month), so filing even if you don't have the full amount is your best option.
• If you're expecting a refund, there's no penalty for not filing, but you must file to claim it.

The sooner you file, the less you'll pay and the faster you can get back in good standing with the IRS.

💡 Key Deductions and Rules for Your 2024 Return

• 2024 standard deduction:
  • Single: $14,600
  • Married filing jointly: $29,200
  • Head of household: $21,900
  • (Reference 1)
• 1099-K and app-based sales:
• For 2024, the IRS set a transitional threshold of $5,000 for reporting payments received through third-party platforms (such as sales or payment apps). If you received a 1099-K, include it. (Reference 4)

🧾 Quick Checklist If You Haven't Filed Yet

Basic documents you'll need:

• W-2 and 1099 forms (NEC, MISC, INT, DIV, B, G, R, K).
• Records of estimated payments or withholding.
• Deductible expenses: mortgage interest, donations, education, children or dependents.
• Bank information for direct deposit (to speed up your refund).
• Last year's tax return (if applicable).

🚀 How Imfinita Tax Team Can Help

At Imfinita Tax Team, we help you get caught up with the IRS and make the most of your deductions:

✅ Fast, 100% electronic filing — even after the deadline.

✅ A review of credits and deductions to maximize your refund or reduce your balance due.

✅ Guidance for self-employed workers, small business owners and anyone who receives a 1099-K.

✅ Payment plans and penalty relief options when they apply.

✅ Clear, jargon-free support in Spanish.

📲 Schedule your consultation today and get your tax situation in order without the stress.

The sooner you act, the less interest you'll accumulate.

References

1. IRS, Rev. Proc. 2023-34 – 2024 standard deduction amounts.
2. IRS, Topic No. 653 – Penalties: Failure to File/Failure to Pay.
3. IRS – Refund Timing: “Most refunds are issued in less than 21 days” (e-file + direct deposit).
4. IRS, IR-2023-221 – $5,000 1099-K threshold for 2024.
5. IRS – Individual Tax Return Due Dates.

📝 Note: This content is for informational purposes only and does not constitute personalized tax advice. Rules may vary depending on your state and situation. Schedule a consultation with Imfinita Tax Team to get guidance tailored to your case.