October 15, 2026—which is Thursday in two weeks—marks the final deadline for taxpayers who requested an automatic extension from the IRS in the spring. In practice, this applies to many members of the Polish-American community: small business owners, the self-employed, and those who were waiting for documents from Poland or foreign banks.
Extension to File, Not to Pay
In an announcement dated April 9, 2026 (Tax Tip 2026-30), the IRS reminded taxpayers that an extension serves “only for filing a return and not for extra time to pay.” The deadline for the 2025 tax return was April 15, 2026, and with an extension, the return can be filed until October 15, 2026. Anyone who failed to pay their due tax by April must deal with interest and penalties.
How Much a Delay Costs
According to the IRS, the penalty for failing to file a return on time is 5% of the unpaid tax (reduced by payments and credits made on time) for each month or part of a month the return is late, up to a maximum of 25%. When penalties for failure to file and failure to pay are applied at the same time, the failure-to-pay penalty is reduced to 0.5% per month. Therefore, even someone who cannot afford to pay the full amount should file their return on time.
How to File a Return and Pay
The IRS encourages electronic filing and online payments. If you cannot pay the full amount, the agency advises paying as much as you can and applying for an installment agreement to limit accruing penalties and interest. Taxpayers living abroad, serving in combat zones, or affected by natural disasters may qualify for additional time—details regarding natural disasters are published by the IRS on a separate page dedicated to disaster relief.
The FBAR Report — A Parallel Matter
Many Polish people in the U.S. maintain accounts in Polish banks. Individuals whose total foreign account value exceeded $10,000 at any time during the calendar year must file FinCEN Form 114 (FBAR). According to the IRS, this report is annual and its deadline is April 15 of the following year, with an automatic extension to October 15. The FBAR is filed exclusively online through the BSA E-Filing system operated by FinCEN and—importantly—is not attached to your tax return. We discussed this related reporting obligation in our guide on FATCA and FBAR.
What to Do Within Two Weeks
- Check if your 2025 tax return was granted an extension (Form 4868 or a payment designating an extension).
- Gather missing documents: W-2 and 1099 forms, Polish bank statements, and foreign income details.
- File your return electronically no later than October 15, 2026.
- If you have foreign accounts, check if the $10,000 threshold was exceeded and file the FBAR.
- If you cannot pay the full amount, pay a portion and apply for an installment agreement.
In complex situations, such as having income from Poland or running your own corporation, it is worth consulting a tax professional before the deadline passes. Details for individual taxpayers may vary—the information in this article is general in nature and does not replace professional advice.
Tax returns and accounting matters are best entrusted to professionals—you can find Polish accountants and financial advisors in the Polish Pages directory.
