Last-Minute Tax Filing Guide: Deadlines, Extensions, and Key Documents
April 18 marks the official federal and state income tax filing deadline for 2022 returns, with the IRS reporting its smoothest filing season since 2019. The agency improved phone answer rates from under 15% last year to 87% this season, and wait times dropped from 27 minutes to 4 minutes. Filers who cannot meet the deadline can request an automatic six-month extension, though any taxes owed must still be paid by today to avoid interest and penalties.
The IRS declared the 2022 tax filing season the most normal since 2019, crediting new funding from years of budget cuts for significant service improvements. Phone answer rates jumped from under 15% to 87%, and average wait times fell from 27 minutes to just 4 minutes. Not all filers face the April 18 deadline: residents of federally declared disaster areas — including most of California, representing 10–15% of all federal filers — have until October 16, and active combat-zone military personnel receive a 180-day extension. Filers who cannot submit on time may file Form 4868 for an automatic six-month filing extension, but must still pay any estimated taxes owed today to avoid a 7% interest charge and additional penalties. Average refunds so far this season are down to $2,878 from $3,175 at the same point last year, largely because several pandemic-era tax credits have expired. Audit rates remain very low for most filers — just 0.1% for those earning $50,000–$200,000 — though the IRS plans to increase scrutiny of individuals earning $400,000 or more using Inflation Reduction Act funding.
What different sources said
- CNN WorldLeft
Still haven't filed your taxes? Here's what you need to know
Related
SpaceX IPO Makes Elon Musk World's First Trillionaire as Shares Surge 19% on Debut
SpaceX shares closed up 19% on their first trading day, pushing Elon Musk's net worth to approximately $1.11 trillion and making him the first individual in history to cross the trillion-dollar threshold. The company raised $75 billion at an IPO price of $135 per share, with shares closing near $161, giving SpaceX a market capitalization of roughly $2.1 trillion despite the company reporting a net loss of $4.94 billion in 2025. The milestone has drawn both investor enthusiasm and sharp criticism over Musk's social media conduct and concerns that the IPO's structure exploits passive index fund mechanics to extract wealth from ordinary retirement savers.
Delhi Power Bills to Rise for Some Consumers as Regulator Approves Higher Electricity Surcharge
Delhi's electricity regulator DERC has approved increased Power Purchase Adjustment Charges (PPAC) for distribution companies, raising bills for consumers in south, east, and central Delhi from July 2026. The hike follows a sharp rise in power procurement costs in April 2026, driven by higher summer demand and elevated fuel prices. The change also marks a structural shift from quarterly to monthly PPAC revisions, making electricity bills more responsive to real-time cost fluctuations.
SEC Proposes Repealing Rule 611 and Rule 610(e) of Regulation NMS
The Securities and Exchange Commission proposed on June 11, 2026, to rescind Rule 611 and Rule 610(e) of Regulation NMS, which govern trade-through protections and locking/crossing quotations in equity markets. Rule 611, in place for roughly two decades, requires trades to be executed at the best available price across exchanges. The proposal could reshape equity market structure and has implications for emerging areas such as tokenized stocks.