Now That Tax Season Has Passed: A Few Smart Moves for May

May 1, 2026

With the April tax deadline behind us, May is a good time to take care of a few follow-up tax items and get organized for the rest of the year.
If you filed an extension, remember that the extension gives you more time to file – not more time to pay. The extended federal filing deadline for most individual returns is October 15, 2026, but any tax owed was generally due by the April deadline.

If your return has already been filed, this is also a good time to save a copy of your return, review your refund or balance due, and make note of anything that changed this year, such as a new job, marriage, home purchase, dependent, side income, or retirement contribution. These changes can affect your 2026 tax situation.

Taxpayers with self-employment income, investment income, rental income, or other income not covered by withholding should also keep upcoming estimated tax deadlines in mind. For calendar-year taxpayers, the next 2026 federal estimated tax payment is due June 15, 2026.

May is also a good time to check your withholding. The IRS Tax Withholding Estimator can help employees determine whether they should update Form W-4 with their employer, especially if their refund or balance due was larger than expected.

Finally, if you notice an error on a return that has already been filed, don’t panic. In many cases, a return can be corrected by filing an amended return. Generally, refund claims must be filed within three years of the original filing date or two years from the date the tax was paid, whichever is later.

A little attention now can make next tax season much easier. If you have questions about your filing, payments, withholding, or tax planning for the year ahead, please reach out.