Primary Filing Deadlines and Key Dates
January 2024
- January 15: Fourth Quarter Estimated Tax Payment Due for 2023
- January 29: IRS begins accepting and processing 2023 tax returns
- January 31: W-2 and 1099 Forms Due to employees and contractors
March 2024
- Form 1065 (Partnerships): March 15, 2024
- Form 1120-S (S-Corps): March 15, 2024
April 2024
- April 15: Individual Tax Returns Due (Form 1040)
- April 15: C-Corporation Returns (Form 1120)
- April 15: Q1 2024 Estimated Tax Payment Due
State-Specific Exceptions
- Massachusetts and Maine: Due to Patriots' Day, residents have until April 17, 2024
- Washington, D.C.: Due to Emancipation Day celebrations, residents have until April 17, 2024
Important Changes for 2024
Tax Bracket Adjustments
| Tax Rate | Income Range |
|---|---|
| 10% | $0 - $11,600 |
| 12% | $11,601 - $47,150 |
| 22% | $47,151 - $100,525 |
| 24% | $100,526 - $191,950 |
| 32% | $191,951 - $243,725 |
| 35% | $243,726 - $609,350 |
| 37% | $609,351 or more |
Standard Deduction Increases
- Single filers: $14,600
- Married filing jointly: $29,200
- Head of household: $21,900
Filing Tips and Resources
Document Preparation
Start gathering your necessary documents early, including:
- W-2s and 1099s
- Mortgage interest statements
- Charitable donation receipts
- Investment income statements
Filing Options
- E-filing: Electronic filing through IRS Free File (for eligible taxpayers)
- Paper filing: Traditional mail-in method
- Tax preparation services: Professional assistance through services like TurboTax or H&R Block
Electronic Filing Benefits
- Faster processing
- Quicker refunds
- Immediate confirmation
- Reduced error rate
- Secure transmission
Penalties and Consequences
Important: 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 penalties and interest.
Penalty Breakdown
- Failure-to-file penalty: 5% of unpaid taxes per month
- Failure-to-pay penalty: 0.5% of unpaid taxes per month
- Interest: Federal short-term rate plus 3%
Extension Information
If you need additional time, you can file Form 4868 for an automatic six-month extension, which moves your filing deadline to October 15, 2024.
For the most current information and specific guidance regarding your tax situation, visit the IRS website or consult with a qualified tax professional.