New Delhi, Oct. 9 -- The month of October 2025 is witnessing important Internal Revenue Service (IRS) deadlines for a large number of taxpayers across the United States. People would face major financial consequences if they miss out on these IRS deadlines for the month.

A person is required to pay a penalty of 5% of taxes owed for every month or partial month the return is late whenever the individual fails to file and pay tax returns on time. Additionally, the total interest can accrue on unpaid penalties, resulting in a jump in the total amount owed.

Those who have been granted a filing extension earlier this year must note that October 15, 2025, is the last date to file their 2024 federal tax return. Originally, the deadline was set...