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Taxes are due April 15, but many taxpayers wait until the last minute to file. If that sounds familiar, don’t worry — you’re not alone. And rest assured that it’s still possible to file accurately and on time. All you need is the right approach.

These last-minute tax filing tips can help you get your return in before it’s too late — all while maximizing tax breaks and planning for taxes owed. Whether you’re filing taxes on your own or working with a professional tax service, getting started now brings you closer to crossing this task off your list.

Tip 1: Know Your Tax Deadlines and Extensions

Federal taxes are usually due on April 15 (11:59 p.m. local time). If that day falls on a weekend or legal holiday, the deadline to file taxes moves to the following business day.

State income tax deadlines can vary. While many fall on April 15 in line with the federal due date, others have different deadlines. Check with your state revenue department for specifics.

The Internal Revenue Service (IRS) does offer a six-month tax extension deadline for federal returns, which can help if you need a little more time. This extension gives you until October 15 to file. However, even with the extension, you still need to pay any taxes you owe by the April 15 deadline. The IRS could penalize you if you don’t.

And if you’re self-employed or own a business, you may owe estimated taxes. These are generally due every quarter — April 15, June 15, September 15, and January 15 of the following year.

Tip 2: Organize Your Documents

Being organized is key to successfully filing your taxes on time, especially at the last minute. Here are some common tax forms you might need:

•   W-2s from your employer

•   1099-K (payment card and online marketplace payments)

•   1099-G (government payments)

•   1099-INT (interest earned from bank accounts or brokers)

•   1099-DIV (dividends and distributions)

•   1099-NEC (freelance or independent contractor income)

•   1099-R (pensions, annuities, or retirement plan distributions)

•   1099-MISC (other miscellaneous income)

•   1098-E (student loan interest tax deduction)

•   1095-A (health insurance marketplace statement)

•   SSA-1099 (Social Security benefits)

If you’re looking to maximize credits or deductions, you may also need supporting documentation for things like:

•   Health savings account contributions

•   Retirement contributions

•   Child care expenses

•   Health care expenses

•   Mortgage interest and property tax payments

•   Tuition or student loan interest payments

Getting all your documents together upfront can save you time and cut down on filing errors. This means less stress for you.

If you’re missing any specific forms, you can request them from your employer, financial institution, loan service provider, or other relevant entity. Many organizations offer online access to these documents via your account dashboard.

A tax professional or DIY tax prep software can guide you toward the forms you need for a smoother filing experience. Some platforms even auto-import your forms.

Tip 3: Plan for Owed Taxes

Even if you’re filing taxes at the last minute, it’s good to have an idea of what you owe ahead of time. That way you won’t be blindsided by a tax bill or run the risk of owing penalties on unpaid taxes.

If you’re employed and have taxes withheld from your paycheck, checking last year’s tax return can provide a baseline for what this year’s tax bill might be. Circumstances may have changed, but you can use your income, deductions, and credits to get a ballpark number.

If you receive income without withholding, such as self-employment earnings, you can use IRS Form 1040-ES to calculate your quarterly estimated taxes.

Whatever your tax situation, be sure to pay on time, even if you’re filing an extension. Otherwise, you could get hit with a 0.5% to 25% failure-to-pay penalty on your unpaid taxes.

Payment options include:

•  IRS Direct Pay with your bank account

•  Certified mail (send Form 1040-ES)

•  IRS2Go app

•  Debit card or credit card

•  Electronic Federal Tax Payment System (you must enroll first)

•  Individual IRS account online

Tip 4: Plan for HSA Deductions

Did you contribute to a health savings account (HSA) last year? If so, you could qualify for deductions that reduce your taxable income. HSAs offer a 1-2-3 punch of tax-deductible contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses.

Contributions made in 2024 max out at $4,150 to your account and $8,300 if you have family coverage. For the 2025 tax year, you can contribute up to $4,300 or $8,550, respectively.

To qualify for an HSA, you must:

•  Have a high-deductible health plan (HDHP)

•  Not be enrolled in Medicare

•  Not be a dependent on someone else’s tax return

•  Not have other health coverage (in most cases)

If you weren’t able to take tax-advantaged account deductions like these in 2024, keep them in mind for future tax seasons to help get the most tax breaks possible.

Tip 5: Maximize Your IRA Contributions

Traditional IRA contributions can reduce your taxable income for the previous year if made before the April 15 tax filing deadline. Contributions may be fully or partially tax deductible, depending on your income and tax filing status.

For the 2024 tax year, the IRA contribution limit is $7,000 ($8,000 if you’re 50 or older). Maxing out your contributions can significantly lower your taxable income. These contributions can apply to the prior tax year if made before the filing deadline. (For example, contributions made before April 15, 2025, can apply to the 2024 tax year.)

You could get a full deduction up to the 2024 contribution limit amount if any of the following criteria apply:

•  You’re single, head of household, or a qualifying widow(er) and not covered by a retirement plan at work.

•  You’re married filing jointly or separately, and your spouse isn’t covered by a workplace retirement plan.

•  You’re married filing jointly, your spouse is covered by a workplace retirement plan, and your modified adjusted gross income (AGI) is $230,000 or less.

Other taxpayers may be able to claim a partial deduction. Those who earn above a certain income threshold don’t qualify for a deduction.

Maxing out your traditional IRA contributions could mean reducing your taxable income for that year. Depending on your current income, it might even put you in a lower federal tax bracket.

Tip 6: Choose a Reliable Tax Preparer or Tax Software

Choosing a trusted tax preparer or software can make last-minute tax filing easier. The right software (or tax professional) could help you prepare and file your taxes accurately and quickly, potentially even getting you a faster refund.

If you go with tax software, look for features like deduction finders, audit support, and refund estimators. If you have a complicated tax situation, find one that offers hands-on expert support or consider using a tax professional. Be sure to check reviews when choosing tax software (this goes for tax preparers as well).

If your AGI is $84,000 or less, you can also do your taxes for free using IRS Free File. This software can guide you through the tax filing process to ensure you’re getting your taxes done quickly and securely, according to the IRS.

Tip 7: Review Deductions and Credits for Missed Opportunities

Another last-minute tax tip? Look for tax breaks.

It’s all too easy to overlook common deductions and credits when you’re on a tight deadline. But this could result in some major missed savings opportunities.

Every taxpayer’s situation is different, but common tax breaks include:

•  Earned Income Tax Credit (EITC): Claim up to $7,830 (for the 2024 tax year) based on your income, filing status, and number of dependents.

•  Education credits: If you, your spouse, or a dependent pays qualified higher education expenses and is enrolled in an eligible academic institution, you could qualify for the American Opportunity Tax Credit (up to $2,500 per eligible student) or the Lifetime Learning credit (up to $2,000 per tax return).

•  Energy-efficient home improvement credit: Did you make qualifying energy-efficient home improvements in 2023 or beyond? If so, you could be eligible for up to $3,200.

•  Health care expense deduction: You may be able to deduct medical and dental expenses that exceed 7.5% of your AGI for the tax year.

•  Mortgage interest deduction: If you paid home mortgage interest, you could potentially deduct the full amount when you file taxes.

•  Home office deduction: If you used part of your home for business-related activities, you may be able to deduct certain home expenses.

You may need to itemize deductions to claim certain tax breaks. Restrictions and limitations may also apply.

Don’t Forget About Student Loans

Did you pay interest on qualified student loans last year? If so, you could be eligible for a student loan interest deduction.

This tax break lets you deduct up to $2,500 or the amount of interest paid, whichever is less. You can claim the full amount if your modified adjusted gross income (MAGI) is less than $80,000. If you earn between $80,000 and $95,000 ($165,000 and $195,000 for joint filers), the deduction amount gradually decreases.

If you paid at least $600 in interest last year, you should receive Form 1098-E (Student Loan Interest Statement). If you don’t, request or download it from your student loan servicer.

Tip 8: Set Up Direct Deposit for Fast Access

If you’ve never filed a return before, you may be wondering how long it takes to receive your refund after filing taxes.

It depends, but the process is typically much faster when done online (and with direct deposit set up). According to the IRS, it usually takes 21 days or less to process electronically filed individual tax returns and issue a refund.

Speed isn’t the only benefit of direct deposit. It also reduces the risk of lost, stolen, or damaged checks. Plus, you can track your refund using the Where’s My Refund tool.

You can use a checking account or other financial account to set up direct deposit with the IRS. Here’s how to do it:

•   With tax software: Simply choose “direct deposit” as your refund method. You’ll need to include your account number and routing number.

•   With a tax preparer: Tell your preparer you want to use direct deposit, and they’ll help you set it up.

Tip 9: Review Last Year’s Taxes and What Has Changed

You can reference last year’s tax return to get a better idea of your various income sources and tax breaks. Just know that major life changes — like divorce, marriage, job change, or a new child — can have a major impact on your taxes.

For example, getting married (or divorced) will likely change your filing status. It could also affect your income tax bracket and deductions.
Meanwhile, having a child could potentially qualify you for a $2,000 child tax credit. Other common tax credits include the Additional Child Tax Credit and the Credit for Other Dependents.

Check your filing status before finalizing this year’s tax return, especially if you’ve gone through a major life change. A different filing status could mean you qualify for a new standard deduction amount or income tax bracket. And it might affect your eligibility for other tax breaks.

Tip 10: Use Spending and Savings Tools

As of the end of February 2025, the average refund amount is $3,382. If you’re due a refund — regardless of how much — now might be a good time to use it to reset your financial goals.

Rather than spend your refund, it may be better to save it, invest it, or use it to pay down debt. You can also put it in a high-yield savings account (HYSA), where it can accrue interest.

Using spending or savings tools can also help you spend your money wisely or reach your financial goals. For example, you could:

•  Use a free budgeting app that lets you track and reduce your expenses.

•  Set up automatic savings with your bank.

•  Use an income and expense tracker to monitor income and tax spending.

Tip: Check out SoFi’s savings calculator, which shows how much money in a HYSA account may grow over time.

The Takeaway

Staying organized, using a reliable tax software or preparer, and knowing your tax breaks can make last-minute tax filing a little less stressful. It can also help you get ahead of next year’s deadline to file taxes — and avoid potential tax penalties.
In the meantime, why not get your finances in order? SoFi offers financial products and tools you may want to explore, including high-yield savings accounts, debt repayment tools, budgeting, and spending tools.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

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Many borrowers take out multiple student loans throughout their college years to help pay for their education. But staying on top of the details for every student loan you have can be tricky.

You may have both federal and private student loans to keep track of. You probably owe different amounts on each one, the repayment terms and monthly due dates may vary, and you might have several different loan servicers to deal with. That’s a lot to juggle!

Fortunately, learning how to keep your student loans organized can make it easier to manage your payments — and make your life a little less stressful, too. Here’s how to tackle the process.

Importance of Organizing Student Loans

Student loan borrowers owe an average of $38,375 in student loan debt, according to the Education Data Initiative. Organizing your student loans is one way to help repay that kind of debt efficiently. Being organized can help you see exactly how much you owe on your loans each month, choose the best repayment strategy for your situation, and schedule your payments so they’re on time.

Organizing your student loans can also be helpful if you’re considering student loan refinancing. For instance, if some of your student loans have an interest rate that’s high, you might want to see if you could qualify for a lower rate or more favorable terms through refinancing. In order to submit an application for refinancing, you’ll need to provide the details about your loan to a new private lender. When your loans are organized, you’ll have that information readily available.

Learn more: How to Refinance Student Loans

Steps to Organize Your Student Loans

Organizing your loans takes a little time initially, but the process is fairly easy to do once you get started. Here’s how to organize student loans step by step.

Create a Comprehensive Inventory

Compiling all your loan information in one place provides you with a complete view of what you owe. Think of it as your own personal student loan organizer. Here is the information you’ll want to collect:

•   Student loan type (federal or private)

•   Loan disbursement date

•   Original principal balance

•   Current balance

•   Interest rate and type (fixed or variable)

•   Grace period on the loan

•   Repayment term

•   Payment plan you’re on for federal loans

•   Minimum monthly payment amount due

•   Payment due date

•   History of any payments you’ve made so far

•   Name and contact information for your lender or loan servicer

Learning how to organize your student loans after graduation — or even better, setting up this kind of inventory as soon as you borrow your first student loan — can help you devise a payment game-plan.

Develop a Repayment Strategy

That brings us to the next step: using the data you’ve gathered to figure out the best strategy for your student loan repayment goals.

Say your priority is to reduce the amount of interest you pay. With the information from your student loan inventory list, you can quickly spot the education loans with the highest rate. Then you can decide the best way to pay that interest down. For instance, you might opt for the debt avalanche method, which involves putting extra funds toward repaying the loan with the highest interest rate first.

Or if your goal is to lower student loan payments, take a close look at the repayment plan you’re enrolled in for your federal loans. For example, if you’re on the Standard Repayment Plan, you can explore the other options, such as the Graduated Repayment Plan, in which your payments start out lower and gradually increase every two years — the idea being that, ideally, your income will rise as you advance in your job.

Just be aware that on the graduated plan, because your payments are smaller at first, you’ll likely pay more interest than you would on the standard plan. Weigh the pros and cons of the various repayment options to see if it makes sense for you to change student loan repayment plans.

Monitor Your Progress

As you make your monthly loan payments, update your information to stay organized. Record the payment dates and amounts and the new loan balance. That way, you can see the current status of all your student loans at a glance.

If you find that there’s still too much to keep track of, you might consider streamlining the process. One way to do this is by consolidating student loans. Consolidation involves combining all your federal student loans into one loan with one monthly payment.

If you want to keep your access to federal programs and protections, you could explore a Direct Consolidation Loan. Note, however, that consolidating streamlines the loan paying process, but it generally doesn’t save you money. With a Direct Consolidation Loan, your new interest rate is a weighted average of all your loans’ interest rates, rounded up to the nearest eighth of a percentage point. Any unpaid interest on the loans you’re consolidating will be added to the principal of the new loan.

If you have private student loans, refinancing is a way to consolidate your loans and combine them into one new loan, ideally with a lower interest rate or better loan terms if you qualify. There are positives and negatives of student loan refinancing, so be sure that you understand them before moving ahead.

Recommended: Student Loan Refinancing Calculator

Tools and Resources for Managing Student Loans

There are many tools you can use to help keep your student loans organized. The following resources are a good place to start.

Spreadsheets and Tracking Documents

You can use digital tools to organize your loans, such as apps that help you plan and track your debt repayment. There are also student loan trackers that let you manage your student loan debt in one place.

Or you can simply set up a spreadsheet to get an overview of your student debt. Add columns for the inventory bullet points listed above, and create filters for each column to view the data in a way that’s easiest and most effective for you.

Finally, be sure to keep tabs on all the loan documents you’ve received. This includes financial aid award letters, copies of private student loan applications, loan promissory notes, and billing statements. You can either keep a physical file folder of this information or go paperless by creating digital folders on your computer to store any correspondence from your lender or loan servicer.

Loan Servicer Portals

Another method you can use instead of or in addition to setting up your own tracking system is to take advantage of tools offered by your loan servicer. All details regarding your loan can typically be found on the loan servicer’s account portal. (If you’re not sure who your federal loan servicer is, log in to your account at StudentAid.gov.)

On your loan servicer’s website, create a login if you haven’t done so already. Once you’re in, you should be able to access the key information about your loans. If you have loans through multiple lenders, you’ll need to log into each portal individually to see your loan details.

While loan servicer portals are a convenient way to access your loan details, relying on this method alone can make it hard to see the big picture regarding your student debt. That’s why having all of your loan information live in one place, like in a spreadsheet, can be useful.

Benefits of Staying Organized

Organizing your student loans is a practical way to manage your student debt and ensure that your loan bills are paid on time. And along with the logistical benefits, organizing can also help you feel less anxious about your loans and give you a sense of control.

Reducing Stress

Dealing with student loan debt can be stressful. And if your loan information is disorganized and hard to find, that can just add to the anxiety. Plus, you might miss a payment, which can be especially stressful.

Organizing your student loan information so you know exactly where to find it, and then keeping it updated, can save you a lot of worry. If you want to switch to a new repayment plan or consolidate or refinance your loans, you’ll have all the pertinent details at your fingertips.

Best of all, as you pay off your loans and record your progress, you can see your balance start to shrink. That can be rewarding and motivating.

💡 Recommended: How to Consolidate Student Loans

The Takeaway

Organizing your student loans so that all the details you need are in one easy-to-access place can help you manage your payments. Getting organized can be as simple as creating a computer spreadsheet or using a digital tool like a debt repayment app or your loan servicer’s portal.

Once you’re done organizing, if you ever want to change your loan repayment option, streamline your loans with consolidation, or potentially get a lower interest rate through student loan refinancing, you can simply pull up your spreadsheet or tracking tool to get the information you need.

Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.

FAQ

How often should I review my student loan information?

It’s a good idea to review the accuracy of your student loan debt regularly. For example, you might do an inventory of your loan balances and payment history quarterly, or even monthly, to make sure everything is correct. If you are planning to change your student loan repayment option or you’re considering refinancing or consolidating your student loans, always review your loan information first to make sure it’s accurate and up to date.

What should I do if I have multiple loan servicers?

If your student loan debt involves multiple loan servicers, one organizing method is to keep an up-to-date record of your student loans listed under each servicer. Include the loan servicer’s contact information as well as the loan details like the principal balance, interest rate, repayment terms, and payment due dates. Record each payment and the date as you make it.

Can consolidating my loans help with organization?

Consolidation may help you streamline your student loans. Consolidation involves merging federal student loans into one loan with one payment so you have less to organize and keep track of.

How can I stay informed about changes to my loan terms?

To stay informed about changes to your loan terms, make sure that your student loan servicer or lender has your current contact information. This includes your mailing address, phone number, and email address. Also, it’s helpful to log in to your lender’s online portal regularly to view your loan’s current status and details and check for any updates.

Where can I find reliable resources for student loan management?

Federal student loan borrowers can log in to their StudentAid.gov account for tools, information, and resources on managing their student loans. On their account dashboard, they can see their loan details as well. If you have private student loans, visit your lender’s online portal and log in to your account to access your loan details. Depending on the lender, they might also offer tools or information to help you track and manage your loans.

photo credit: iStock/GaudiLab
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