Every year, tax season seems to sneak up faster than expected. While many people wait until the last minute to gather documents and file, those who plan ahead often uncover opportunities to reduce their tax bill, avoid costly mistakes, and feel more confident about their financial picture.

With the filing deadline approaching, now is the time to get organized and take action.

Key Tax Deadline to Know

For most taxpayers, the federal tax filing deadline is April15 (unless it falls on a weekend or holiday).

If you’re not ready to file by then, you can request an extension—but it’s important to understand what that actually means:

• An extension gives you more time to file your return
• It does not give you more time to pay taxes owed

If you owe money and wait until after the deadline,penalties and interest may apply.

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What You Should Be Doing Right Now

1. Gather All Required Documents

Start by collecting everything you’ll need to file an accurate return:

• W-2s and/or 1099s
• Investment income statements (1099-INT, 1099-DIV, 1099-B)
• Retirement income forms (1099-R, Social Security statements)
• Mortgage interest (Form 1098)
• Charitable contribution receipts
• Any business or rental income records

Missing documents are one of the most common reasons for delays—or worse, amended returns later.

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2. Double Check Retirement Income Reporting

If you’re retired or nearing retirement, your tax situation can be more complex than in your working years.

Be sure to review:

• IRA  and 401(k) distributions
• Roth conversions
• Required Minimum Distributions (RMDs), if applicable
• Social Security taxation

Small reporting mistakes here can have outsized tax consequences.

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3. Look for Last-Minute Tax Moves

Even as the deadline approaches, there may still be opportunities to improve your situation:

• Contributing to a Traditional IRA (if eligible)
• Funding an HSA (Health Savings Account)
• Reviewing capital gains and losses
• Ensuring charitable contributions are properly documented

These moves can sometimes reduce your taxable income for the prior year—even late in the process.

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4. Plan for What You Owe (or Expect to Receive)

If you expect to owe taxes:

• Make sure you have a plan to pay by the deadline
• Consider whether estimated payments should be adjusted going forward

If you’re expecting a refund:

• Confirm your banking details for direct deposit
• Think about how that refund fits into your broader financial plan

5. Avoid Common (and Costly) Mistakes

As the deadline approaches, errors become more common. Watch out for:

• Incorrect Social Security numbers
• Missed income sources (especially multiple accounts)
• Math errors or input mistakes
• Forgetting signatures or required forms

These can delay processing—or trigger IRS notices later.

Don’t Just File — Use This as a Planning Opportunity

For many people, taxes are treated as a once-a-year task.But the most effective approach is to treat tax season as part of an ongoing strategy.

This is especially important for those approaching or in retirement, where decisions like:

• When to take income
• How to structure withdrawals
• When to realize gains or do Roth conversions

…can have long-term tax implications.

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Final Thoughts

The tax deadline is more than just a date on the calendar—it’s an opportunity to get organized, make informed decisions, and set yourself up for a more tax-efficient future.

If you haven’t started yet, now is the time.

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Want Help Making Sense of It All?

Tax situations—especially in retirement—can quickly become more complex than they appear on the surface.

If you’d like help reviewing your situation, identifying potential opportunities, and making sure nothing is overlooked, we’re here to help.

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Securities offered through LPLFinancial, Member FINRA/SIPC. Investment advice offered through TOP PrivateWealth, a registered investment advisor and separate entity from LPL Financial