When is Tax Day 2024?
For 2024, Tax Day falls on Monday, April 15th. This is the standard deadline for filing federal income tax returns and paying any taxes owed to the Internal Revenue Service (IRS).
State-Specific Extensions
Some states have different deadlines due to local holidays:
- Maine and Massachusetts: Tuesday, April 17, 2024 (due to Patriots' Day)
- Washington, D.C.: Monday, April 15, 2024 (standard deadline)
Important Dates to Remember
January 2024
- January 16: Fourth quarter 2023 estimated tax payment due
- Late January: Tax filing season officially begins (exact date TBA by IRS)
April 2024
- April 15: Federal tax return due
- April 15: First quarter 2024 estimated tax payment due
- April 15: Last day to contribute to 2023 IRA accounts
Filing for an Extension
If you need more time to file your tax return, you can request an automatic six-month extension using Form 4868. This extends your filing deadline to October 15th, 2024.
An extension of time to file is NOT an extension of time to pay. Any taxes owed must still be paid by April 15 to avoid potential penalties and interest.
Special Circumstances
Natural Disaster Areas
Taxpayers in federally declared disaster areas may receive additional time to file. Check the IRS disaster relief page for updates.
Military Personnel
Active duty military personnel serving in a combat zone typically receive automatic extensions and should consult the IRS military page for specific guidelines.
Penalties for Late Filing and Payment
Failing to file or pay on time can result in significant penalties:
- Late Filing Penalty: 5% of unpaid taxes per month (maximum 25%)
- Late Payment Penalty: 0.5% of unpaid taxes per month (maximum 25%)
- Interest: Charged on unpaid taxes from the due date until payment
For more detailed information on penalties and interest, visit the IRS Penalties page.
Tips for Preparing Your Taxes
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Gather Documents Early: Collect all necessary documents, including W-2s, 1099s, and receipts for deductions
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Choose a Filing Method:
- E-filing: The fastest and most secure method
- Free File: Available through IRS.gov for those with income below $73,000
- Tax software: Popular options like TurboTax, H&R Block, or TaxAct
- Professional tax preparer: In-person assistance
- Mail: Traditional paper filing
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Consider E-Filing: Electronic filing is often faster and more secure than paper filing. The IRS offers a free e-filing program for eligible taxpayers on the IRS Free File page.
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Stay Informed: Keep up with tax law changes and updates on the IRS website.
Remember to check with your state's tax agency for specific state filing deadlines, as they may differ from federal dates. You can find more information on state tax deadlines on the Federation of Tax Administrators website.