If you're reading this and feeling a knot in your stomach about April 15, take a breath. You're not alone — and you still have time to make some genuinely impactful moves before the deadline hits.
The IRS has already processed roughly 87.5 million individual returns this filing season, and according to agency data, the average refund is sitting at about $3,521 — that's up around $350 compared to the same point last year. Whether you're still pulling together your paperwork or you've filed and want to squeeze out a little more savings, here are seven moves worth making before the clock runs out.
1. Max Out Your IRA Contribution (Yes, for Last Year)
Here's a detail a lot of people miss: you have until April 15, 2026, to make IRA contributions that count toward your 2025 tax year. That means if you haven't maxed out your traditional or Roth IRA yet, you've still got a window.
For the 2025 tax year, the contribution limit is $7,000 if you're under 50, and $8,000 if you're 50 or older. If you contribute to a traditional IRA and you qualify for the deduction, that's money that directly reduces your taxable income.
A couple of important notes: if you (or your spouse) have a retirement plan through work, the deduction phases out at certain income levels — for married filers covered by a workplace plan, the 2025 phase-out range runs from $126,000 to $146,000 in modified adjusted gross income. And if you're going the Roth route, remember that contributions don't give you a tax break now, but your money grows tax-free forever.
The critical thing: when you make the contribution, make sure you designate it as a 2025 contribution. If you don't specify, your brokerage may default to applying it to 2026, and you'll lose the deduction on this year's return.
2. Top Off Your HSA
If you had a high-deductible health plan in 2025, your Health Savings Account is another last-minute goldmine. HSA contributions for the 2025 tax year are also due by April 15, 2026 — and unlike an IRA, this one gives you a triple tax advantage: tax-deductible going in, tax-free growth, and tax-free withdrawals for qualified medical expenses.
The 2025 limits are $4,300 for self-only coverage and $8,550 for family coverage, according to the IRS. If you're 55 or older, you can add another $1,000 as a catch-up contribution.
Even if you don't plan to use the money for medical bills right now, an HSA is one of the most powerful long-term savings vehicles out there. Many HSA providers let you invest the balance in mutual funds, essentially turning it into a stealth retirement account.
3. File an Extension (But Pay What You Owe)
Let's clear up a common misconception: filing an extension does not mean you get more time to pay. It means you get more time to file. Big difference.
By submitting Form 4868 before April 15, you push your filing deadline to October 15, 2026. That's six extra months to gather your documents, work with a tax professional, or just take a breath. You can do this electronically through IRS Free File, or simply by making an estimated payment and indicating it's for an extension.
But here's the catch — any taxes you owe are still due on April 15. If you don't pay by then, you'll start racking up interest and potential penalties. So if you think you might owe, estimate the amount and send a payment with your extension request. It doesn't have to be perfect; even a good-faith estimate protects you from the harshest penalties.
4. Don't Miss the New Deductions
The One Big Beautiful Bill Act, signed into law last year, introduced several new deductions that apply to 2025 returns. If you haven't factored these in yet, you could be leaving money on the table:
- Tips: If you earned tip income in 2025, a portion may now be deductible. This is a game-changer for restaurant workers, bartenders, delivery drivers, and anyone in the service industry.
- Overtime pay: Certain overtime earnings now qualify for favorable tax treatment, potentially reducing your taxable income.
- Senior deduction: There's an enhanced deduction available for taxpayers 65 and older.
These are brand new for this filing season, so even tax software may not always prompt you for them clearly. If any of these apply to you, double-check that they're reflected on your return before you hit submit.
5. Fund a SEP IRA If You're Self-Employed
Freelancers, consultants, and small business owners have a uniquely powerful tool: the SEP IRA. For the 2025 tax year, you can contribute up to 25% of your net self-employment income, with a cap of $70,000.
Here's the best part — if you file an extension, your SEP IRA contribution deadline extends too. That means you could potentially have until October 15, 2026, to make a contribution that lowers your 2025 tax bill. That's a lot of runway to come up with the cash.
If you had a strong freelance year in 2025 and you're staring at a big tax bill, a SEP IRA contribution is one of the most effective ways to bring it down while simultaneously building your retirement savings.
6. Check for Overlooked Credits and Deductions
Before you file (or if you already filed and realize you missed something), take ten minutes to scan for commonly overlooked tax breaks:
The Saver's Credit
If your adjusted gross income is below $38,250 (single) or $76,500 (married filing jointly) for 2025, and you contributed to a retirement account, you might qualify for a credit worth up to $1,000 ($2,000 for couples). This is separate from the deduction — it's a direct reduction of what you owe.
Student Loan Interest
You can deduct up to $2,500 in student loan interest even if you don't itemize. If you made payments in 2025, check your Form 1098-E.
State and Local Taxes (SALT)
The SALT deduction cap was recently raised to $40,000 for 2025 under the new tax law — up from the previous $10,000 cap. If you live in a high-tax state like New York, California, or New Jersey, this could make itemizing worth it again.
Energy Credits
Did you install solar panels, a heat pump, or energy-efficient windows in 2025? The Residential Clean Energy Credit and the Energy Efficient Home Improvement Credit can put thousands back in your pocket.
7. Set Up a Payment Plan If You Can't Pay in Full
Owing money to the IRS feels terrible, but ignoring it makes everything worse. If you've done the math and you owe more than you can comfortably pay, the IRS actually has a pretty straightforward process for setting up a payment plan.
For balances under $50,000, you can apply for an installment agreement online at IRS.gov — most applicants get approved instantly without needing to call anyone. You'll still accrue some interest, but the failure-to-pay penalty drops significantly once you're on a plan. And critically, you avoid the much steeper failure-to-file penalty, which is 5% per month on unpaid taxes (compared to 0.5% per month for failure to pay).
The math is clear: always file on time, even if you can't pay on time.
The Bottom Line
You don't need to be a tax expert to save real money before April 15. The biggest wins come from funding tax-advantaged accounts (IRA, HSA, SEP IRA), making sure you're capturing the new deductions from recent tax law changes, and — if nothing else — filing on time or requesting an extension.
This filing season, the average refund is running about 10% higher than last year, partly thanks to those new deductions. But the only way to benefit is to actually claim them.
So pour yourself a coffee, pull up your tax software, and give your return one more look. Future you — the one with a fatter refund or a smaller bill — will be grateful.
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