Last-Minute Tax Moves Before April 15, 2026
Carol opened her tax software on a Sunday afternoon in mid-March with one goal: just see how bad it is. Her retirement income was up, she'd taken a Roth conversion last fall, and she had a nagging feeling the number was going to hurt.
It did. She owed $4,300 more than expected.
But before she hit "submit" and started transferring money, her advisor reminded her of something. There were still moves she could make — real, legal moves that could chip away at that bill before the clock ran out.
She ended up owing $1,800.
If your return is already filed and done, close this tab. But if April 15 is still ahead of you, here's what's still on the table.
The Moves That Actually Move the Needle
1. Make Your 2025 IRA Contribution — Today
The IRS gives you until April 15 to fund an IRA for the previous year. That means you have until April 15, 2026, to make a 2025 contribution — even if you haven't filed yet.
2025 IRA contribution limits:
| Age | Traditional IRA | Roth IRA |
|---|---|---|
| Under 50 | $7,000 | $7,000 |
| 50 and older | $8,000 | $8,000 |
A deductible traditional IRA contribution reduces your taxable income dollar-for-dollar. If you're in the 22% bracket, a $7,000 contribution saves you $1,540 in federal taxes.
Important: Traditional IRA deductibility phases out if you (or a spouse) have a workplace retirement plan and your income exceeds certain limits. Check IRS Publication 590-A for current thresholds.
Roth IRA contributions don't reduce this year's taxes — but they're still worth making if you're eligible. Future withdrawals come out tax-free.
TIP
If you fund a traditional IRA now specifically to reduce 2025 taxes, tell your IRA custodian it's a 2025 contribution. Otherwise they'll record it as 2026. This is a common mistake.
2. Top Off Your HSA
Health Savings Accounts are triple tax-advantaged: contributions reduce taxable income, growth is tax-free, and withdrawals for qualified medical expenses are tax-free. They're arguably the most tax-efficient account available.
Like IRAs, you have until April 15, 2026, to make 2025 HSA contributions.
2025 HSA limits:
| Coverage Type | Contribution Limit |
|---|---|
| Self-only (HDHP) | $4,300 |
| Family (HDHP) | $8,550 |
| Catch-up (age 55+) | +$1,000 additional |
One caveat: You must have been enrolled in a qualifying High Deductible Health Plan for the months you're contributing. If you switched coverage mid-year, your limit may be prorated.
3. Harvest Tax Losses Before Filing — Sort of
Technically, tax-loss harvesting happens throughout the year, not at filing time. But there's a related move you can still make now: review your 2025 trades and make sure you've properly accounted for all realized losses.
Wash sale rules, cost basis adjustments, and reinvested dividends can create hidden gains or losses that affect your return. A quick review of your brokerage's year-end tax statement before you file can catch errors that work against you.
If you overpaid estimated taxes because you expected more capital gains than you realized, make sure that's reflected in your return.
4. Double-Check Your QCD (If You're 70½ or Older)
A Qualified Charitable Distribution allows you to send up to $105,000 directly from your IRA to a qualifying charity. The distribution counts toward your Required Minimum Distribution — and it never appears in your gross income.
If you made a QCD in 2025, make sure your 1099-R and your tax return both reflect it correctly. The IRA custodian is required to report the full distribution; you're responsible for indicating the QCD amount on your return.
It's a reporting nuance that trips people up and can result in paying taxes on income that was actually tax-free.
5. File an Extension If You Need It — but Pay What You Owe
Form 4868 extends your filing deadline to October 15, 2026. It buys time. It does not buy you more time to pay.
If you owe taxes, the IRS still expects payment by April 15. Failing to pay on time triggers a 0.5% per month penalty plus interest. Failing to file is worse — 5% per month, up to 25%.
If you're unsure how much you owe, make a reasonable estimate and pay it. You can reconcile the rest in October when you file the actual return.
What Won't Help You Now
A few things that are off the table at this point:
- 401(k) contributions: These must come from payroll during the year. You can't make retroactive contributions after December 31.
- SEP-IRA and Solo 401(k) contributions for 2025: These deadlines depend on your filing deadline (including extensions). If you're self-employed, check with your accountant — these may still be available to you.
- ABLE account contributions: Contribution deadline aligns with the tax year (December 31).
The Bigger Picture
Last-minute tax moves are useful — but they're downstream of planning. The advisors who help their clients avoid large spring tax bills aren't scrambling in March. They're making Roth conversions in October, harvesting losses in December, and reviewing IRMAA exposure in November.
If you keep finding yourself in last-minute situations, that's usually a signal to set up a mid-year tax review for 2026. Connect with a financial advisor who focuses on tax-efficient retirement planning before next year becomes this year.
April 15 is still ahead. Use the time you have.
Frequently Asked Questions
Yes. You can make a 2025 IRA contribution up until the tax filing deadline of April 15, 2026. The limit is $7,000 (or $8,000 if you were 50 or older in 2025).
The deadline to make 2025 HSA contributions is also April 15, 2026. For 2025, the limit is $4,300 for self-only coverage and $8,550 for family coverage.
Filing Form 4868 gives you until October 15, 2026 to file your return. But it does NOT extend the deadline to pay any taxes you owe. Pay an estimate by April 15 to avoid penalties.
Sources
Want to see how this applies to your situation? Get your free personalized retirement analysis →