As tax season progresses, many of our clients start asking the same questions: Where is my 1099? Am I running out of time to file? Should I consider an extension?
For households with more complex financial lives, these questions are completely normal. A few reminders can help make this time of year less stressful and keep things moving smoothly.
1099s may arrive later than you expect
Many years ago, it was standard to receive all 1099s by the end of January. The IRS changed the 1099 mailing deadline five years ago so that most 1099s now arrive in late February, with the remainder by mid-March.
By now, you should have received the majority of your documents, but it is not unusual for a few to still be outstanding depending on the investments involved. In some cases, waiting slightly longer to file actually helps avoid receiving a corrected form a week or two later.
If you believe you are still missing an important document, you should check your online account portal or contact us or your other financial institution, like your bank or credit union.
Why tax filing extensions are common
The tax filing deadline for the 2025 tax year is April 15, 2026. While that date often creates a sense of urgency, filing an extension is not unusual, especially for higher-net-worth households.In fact, many intentionally file extensions.
Complex financial situations may involve multiple investment accounts, partnership interests, or K-1 statements that arrive later than April 15.
An extension simply allows more time to file an accurate return once all documents are finalized.
It’s important to note that an extension gives you more time to file your return, but not more time to pay. If taxes are due, an estimated payment still needs to be submitted by the April deadline.
How to file a tax extension
Fortunately, filing an extension is a straightforward process, which can typically be submitted electronically. If you file an extension, it’s important to estimate your total tax liability for the year and pay any estimated balance owed to avoid interest or penalties.
There are three ways to file:
- Pay online via irs.gov/payments and check the box indicating you’d like to file an extension.
- Use IRS Free File to electronically request an automatic tax-filing extension.
- Submit Form 4868 to the IRS, either by mail, electronically, or through your tax professional.
Make sure to take these steps before the April 15 deadline. Once submitted, the extension will move your filing deadline to 10/15/2026, providing six additional months to complete your return.
Looking ahead: Key tax adjustments for 2026
While most attention this time of year focuses on the current filing deadline, it is helpful to look ahead at upcoming tax adjustments that may affect your planning decisions.
The IRS recently released inflation adjustments for the 2026 tax year. These updates help account for rising costs and may influence several areas of financial planning, including higher standard deduction amounts, adjusted federal tax bracket thresholds, updated retirement contribution limits, and changes to estate and gift planning thresholds.
At Kensington, we encourage each client to view taxes as part of their broader financial strategy rather than a once-a-year event.
Whether it involves coordinating with your tax professional, evaluating investment income, or planning for upcoming tax law changes, thoughtful planning can help ensure that your financial strategy continues to support your long-term goals.
If you have questions about how your unique situation and tax considerations fit into your broader financial plan, our team at Kensington is here to help. Contact us to get the conversation started.
Paul A. Gydosh, Jr. is founder of Kensington Wealth Partners, Ltd., a premier financial planning organization centrally based in Columbus, Ohio with clients in 26 states and major cities including Chicago, New York, Boston, Washington D.C. and Miami. He is also co-author of “Master Your Financial Success: Retirement and Legacy Secrets from Planning Professionals.” Paul regularly addresses industry, academia and client organizations on topics of current interest. As a leader and mentor in his field, Paul’s commitment to continuous improvement has enabled Kensington to serve the financial needs of some of the most successful individuals, families, and businesses over the last 35 years.
Securities offered through Osaic Wealth, Inc. member FINRA/SIPC. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth.
The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation.