The October 15 Tax Deadline Is Almost Here, and Scammers Are Already Targeting Widows
If you filed an extension back in April, October 15 is your real deadline now, and you need to file even if you can't pay everything you owe. Also making the rounds this week: scammers are calling new widows within days of a funeral, claiming a deceased spouse owed back taxes. Both came up on today's episode, along with some straight talk on mortgage rates.
I'm Ralph Estep Jr., a licensed public accountant with 30 years in the business, and every weekday my cohost Juliet and I break down what's actually happening with your money.
Quick take
- File by October 15 even if you can't pay. Skipping the filing costs up to 5 percent per month in penalties, capped at 25 percent.
- A Cato Institute survey found 89 percent of people 65 and older would rather raise taxes on younger workers than touch their own Social Security. Only 47 percent of people 18 to 29 felt the same way.
- Older Americans lost $7.7 billion to internet crime in 2025, up 59 percent from the year before, with an average loss of $38,500 per case.
- 70 percent of people don't have a will. Most didn't decide against one, they just never got to it.
- Mortgage lender Jason Bochniak joined us to talk through where rates actually stand right now.
What happens if you miss the October 15 tax deadline?
File your return anyway, even if you can't pay the full amount. The penalty for not filing runs up to 5 percent per month, capped at 25 percent, and that's separate from whatever you owe. You can set up a payment plan with the IRS after you file. Staying out of compliance is what actually gets people in trouble.
Why are scammers targeting widows right now?
According to a Moneywise report from August 24, scammers are reading obituaries and calling new widows within days or weeks of the funeral. The pitch: the late husband owed taxes, and the widow has to pay now to protect the inheritance. One widow sent $7,000 before realizing it was fake. Older Americans lost $7.7 billion to internet crime in 2025, up 59 percent from 2024. If you get a call like this, hang up and call back using a number you look up yourself, never one the caller gives you.
Should you wait for mortgage rates to drop before buying?
Jason Bochniak, a mortgage lender with New Fed Mortgage Corp, put it simply: date the rate, date the payment. Rates around 7 percent feel rough right now, but they hit 19 percent under Reagan and sat near 2 percent during COVID, so today's numbers are closer to the historical middle than people think. His rule of thumb: every 0.125 percent change in your rate moves your payment about $16 a month for every $100,000 you borrow. If you wait for rates to fall, home prices tend to climb right back up, so you can refinance a rate later, but you can't get back the house someone else bought while you were waiting.
Got a money question? Send it to us at becomingfinanciallyconfident.com and we might answer it on the show. And if you're part of the 70 percent without a will, EZ Will & Trust handles it online in one sitting for $149, attorney reviewed and built for your state's laws. Tune in weekdays at 11:30 AM Eastern for more.
Licensed Public Accountant
Ralph V. Estep, Jr. is a Delaware-based Licensed Public Accountant (LPA), author, rancher, and media host with more than 30 years of experience in finance, taxation, and small-business leadership. As the founder of Saggio Accounting+PLUS and the creator of the Ask Ralph Media network, Ralph helps entrepreneurs, creators, and everyday families replace money confusion with clarity, confidence, and practical next steps — without shame and without hype.
Ralph's work blends deep professional expertise with a coach's mindset and a communicator's heart. He has held leadership roles across public accounting, financial institutions, law firms, and technology organizations, bringing a rare combination of traditional accounting rigor and modern systems thinking to the people he serves. A graduate of the University of Delaware and Wilmington University (MBA), he is known for turning complex money topics into simple, repeatable frameworks that help people make wiser decisions and build lasting financial stability.
He is the host of Becoming Financially Confident, a live weekday show built on a single conviction: most money stress is not a character problem but a systems problem, and shame is what keeps people from fixing it. The show grew out of Financially Confident Christian, which Ralph hosted for more than 1,200 episodes across eight seasons and earned national recognition. The new show offers the same host and the same feed, opened up to a wider audience.
Through Ask Ralph Media, Ralph hosts several other programs. Grit and Growth Business… Read More
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