Key Filing Dates and Deadlines
January
- January 1st: Tax year officially begins
- January 15th: Fourth quarter estimated tax payment due for self-employed individuals
- January 29, 2024: IRS begins accepting 2023 tax returns
- January 31st: Deadline for employers to provide W-2 forms
February - March
- February 15th: New W-4 filing deadline for those claiming withholding exemptions
- March 15th: Deadline for S-corporations and partnerships to file returns
April - October
- April 15th: Standard deadline for individual tax returns and first quarter estimated taxes
- June 15th: Second quarter estimated taxes due; deadline for U.S. citizens abroad
- September 15th: Third quarter estimated taxes due; extended S-corp/partnership deadline
- October 15th: Final deadline for extended individual returns
When to Start Preparing
Early Filers (January-February)
- If you have all necessary documents
- If expecting a significant refund
- If concerned about tax identity theft
- If filing a simple return
Mid-Season Filers (March)
- Most W-2 and 1099 forms available
- Less competition for tax professional appointments
- Adequate time to address complications
Late Filers (April)
- Complex returns requiring additional documentation
- Self-employed individuals gathering records
- Those needing more time to pay tax obligations
Required Documentation
Employment and Income Forms
- W-2 forms from employers
- 1099-NEC for independent contractors
- 1099-DIV for dividends
- 1099-INT for interest income
- 1099-B for investment sales
Additional Documentation
- Mortgage interest statements (Form 1098)
- Property tax records
- Charitable donation receipts
- Healthcare coverage information
- Business expense records
Filing Methods
You can file your taxes using several options:
Popular E-filing Methods:
- IRS Free File (income below $73,000)
- Commercial tax software
- Professional tax preparer services
- IRS Direct File (pilot program)
Penalties and Extensions
An extension of time to file is NOT an extension of time to pay. Any taxes owed must still be paid by the original deadline to avoid penalties and interest.
| Penalty Type | Rate |
|---|---|
| Failure to File | 5% per month (max 25%) |
| Failure to Pay | 0.5% per month (max 25%) |
| Interest | Federal short-term rate plus 3% |
Best Practices
Year-Round Organization
- Maintain a dedicated tax folder
- Save relevant receipts and documents
- Track business expenses consistently
- Keep digital copies of important documents
Early Preparation Steps
- Review previous year's return
- Update personal information
- List expected tax forms
- Schedule appointment with tax professional (if needed)
Special Considerations
State Tax Deadlines
- Most states align with federal deadlines
- Some states have different filing dates
- Check your state's department of revenue website
Natural Disaster Areas
Taxpayers in federally declared disaster areas may receive:
- Extended filing deadlines
- Special deductions
- Modified documentation requirements
For more detailed information, visit the IRS website, TurboTax, or H&R Block.