So, you filed your taxes. Here’s what experts say you should do next.
Filing your taxes might feel like the finish line, but there are still a few important steps that can affect your money, your records and even next year’s return.
Whether you’re waiting on a refund or wondering what to do if you made a mistake, what happens after you file can matter just as much as filing itself.
The April 15 deadline has passed, but if you didn’t file, you can still take steps to get back on track and limit penalties.
Here’s what to do next.
How do I track my tax refund?
If you’re expecting money back, the fastest way to track your refund is through the IRS “Where’s My Refund?” tool.
To use it, you’ll need your Social Security number, filing status and the exact refund amount listed on your return.
Most people who file electronically get their refund within about 21 days, according to the IRS. That timeline can stretch if there’s missing information, errors or anything that needs a closer review.
Refunds sent by direct deposit usually arrive faster than paper checks, which can take several weeks to show up in the mail.
What should I do if I miss the tax deadline?
You can still file your return if you missed the April tax deadline, but the IRS says to do it as soon as possible because unpaid taxes can start racking up interest and penalties.
Electronic filing options, including IRS Free File, are still available through October to help taxpayers prepare and submit returns.
Paying as much as you can when you file can help reduce the total amount you owe, and some taxpayers who file late may qualify for penalty relief, according to the IRS.
Certain military members, taxpayers living overseas and disaster victims, may automatically get more time to file and pay.
What if I made a mistake after filing?
If you spot a mistake on your return, you can fix it by filing an amended return using IRS Form 1040-X.
That form is used to correct things like missing income, the wrong filing status or credits and deductions you didn’t include the first time, according to the IRS.
In most cases, you have up to three years from when you filed your original return, or two years from when you paid the tax, whichever is later.
Amended returns can take longer to process, so it’s best to file the correction once you catch the mistake.
What records should I keep after filing?
Tax experts at PKF Texas recommend holding on to your tax return and the documents you used to file it, like W-2s, 1099s, receipts and records tied to deductions or credits.
That’s because the IRS generally has up to three years to audit your return or assess additional taxes. That window can extend to six years if a significant amount of income wasn’t reported.
You’ll also want to keep documents tied to real estate, investments or retirement accounts for as long as you own the asset and for several years after you sell it or withdraw the money.
Keeping everything organized, whether digitally or on paper, can make it easier to respond if questions come up later.
What should I do now to make next year easier?
Tax experts recommend keeping your tax documents and any forms you receive early next year in one place, so everything is easier to find.
If your situation changes during the year, like moving or changing your name, the IRS recommends updating that information now so it doesn’t slow things down when you file again.
The IRS also recommends checking your withholding because a big refund or an unexpected tax bill can be a sign it needs to be adjusted, which you can do by submitting an updated W-4 through your employer.
If you have multiple income sources or freelance work, you should also consider setting aside money for taxes ahead of time to prevent surprises.
