When to Start Filing Taxes: Key Dates and Deadlines

## 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 1. W-2 forms from employers 2. 1099-NEC for independent contractors 3. 1099-DIV for dividends 4. 1099-INT for interest income 5. 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 1. Review previous year's return 2. Update personal information 3. List expected tax forms 4. 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](https://www.irs.gov/), [TurboTax](https://turbotax.intuit.com/), or [H&R Block](https://www.hrblock.com/?srsltid=AfmBOopWoZ8kHzIf9-A4SXVZllyGXSCccxCSaT2srg96B78MKKKpFi77).

When to Start Filing Taxes: Key Dates and Deadlines

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