October 2026 Tax Checklist: 5 Things to Do Before Year-End
October is more than another month on the tax calendar.
For taxpayers who filed an extension, October brings an important filing deadline. For everyone else, it is a good time to start looking ahead to year-end while there is still time to make informed tax decisions.
Here are five things individuals and business owners should have on their tax checklist this October.
1. File Extended Tax Returns by October 15
If you requested an extension for your 2025 individual income tax return, October 15, 2026 is generally the deadline to file.
An extension gives you additional time to file your return, but it does not extend the original deadline to pay taxes owed.
If your return is still incomplete, now is the time to gather any remaining information and avoid waiting until the final days before the deadline.
2. Track Down Missing Tax Documents
Before filing, make sure all relevant information has been accounted for.
This may include:
K-1s
Estimated tax payments
Investment statements
Business income and expenses
Retirement information
Other tax documents received later in the year
Missing information can create errors, delays, or the need to amend a return later.
3. Review Your 2026 Income and Estimated Taxes
Once the October filing deadline passes, attention should shift toward the current tax year.
Review your year-to-date income, business profits, investment activity, and estimated tax payments.
If your income changed significantly during 2026, your previous estimated payments may no longer reflect your current tax position.
A review now gives you time to make adjustments before year-end.
4. Look for Year-End Tax Planning Opportunities
Waiting until tax season to think about tax planning can mean missing opportunities that had to be completed before December 31.
Depending on your circumstances, year-end planning could include reviewing:
Capital gains and losses
Retirement contributions
Business equipment purchases
Available deductions
Charitable giving
Business structure or compensation strategies
Major personal or business changes during the year
The right strategy depends on your individual financial and tax situation, which is why planning before year-end can be valuable.
5. Start Preparing for W-2s and 1099s
Business owners should also begin thinking about January reporting requirements.
Review your employee and contractor records now, confirm names and taxpayer information, and make sure your bookkeeping records are organized.
Starting early can make year-end close and January reporting much smoother.
October Is the Time to Look Ahead
The October 15 filing deadline may close out the extended 2025 filing season for many taxpayers, but it also marks the beginning of an important year-end planning period.
Instead of waiting until December, use October to review where you stand, identify anything that still needs attention, and prepare for the upcoming tax season.
Want to review your tax position before year-end?
Virtual CPAs can help you evaluate your tax situation and prepare for what is ahead.
Disclaimer: This content is for general informational purposes only and is not intended as tax, legal, or financial advice. Tax laws and individual circumstances vary. Consult a qualified tax professional regarding your specific situation.