When someone mentions the tax deadline, most of us think of a day in April when taxes are due. While that’s the main deadline, there are other important tax season dates to keep in mind as a taxpayer — including estimated tax payment due dates and extension filing deadlines.
After reading this post, you’ll have a clear answer to the question, “If you owe taxes, when are they due?” and other tax deadline FAQs. Follow along as we guide you through details to put your mind at ease so you don’t miss any important dates!
While not a federally recognized holiday, Tax Day is when individual federal taxes are due to the Internal Revenue Service (IRS). Tax Day usually falls on April 15 unless there is an exception. We’ll go over all those nuances next.
So, when is Tax Day this year? For 2023 returns filed in 2024, the last day to file taxes is April 15, 2024. If April 15 falls on a Saturday, Sunday, or legal holiday, Tax Day is the next business day. Natural disasters can also shift the tax filing deadline in certain cases.
The deadline for paying taxes is midnight on April 15 in the time zone you’re in.
• If you file via mail, the IRS will consider your return filed on time if it was postmarked by the due date.
• If you file online or through tax software, the IRS will use the date when your filed return was transmitted to determine if it was on time. It must be transmitted on or before midnight on Tax Day to avoid penalties.
E-filing your return? While completing your return means the paperwork is done, you’re not quite ready to check taxes off your to-do list. If you owe taxes to the IRS or state tax authority, you’ll still need to mail in your payment on time. If you’ve e-filed on or near the tax deadline, go ahead and mail your tax payment– don’t wait for confirmation your return was accepted.
You should mail your tax payment by midnight of the tax deadline date. Most years, that date is April 15. It’s a good idea to check your local post office’s hours so you can be sure to have the payment postmarked before they close.
Instead of mailing a check, you can have the funds directly debited (withdrawn) from your bank account. This is an easy and safe way to ensure your payment reaches the IRS in time.
For most taxpayers, the federal tax return deadline to file federal taxes, pay any tax owed, or request an extension to file is April 15. However, if you live in Maine or Massachusetts, your federal income tax return may be due a couple of days later based on official holidays observed in those states.
The federal tax deadline is the same for every taxpayer, but the state tax deadline varies by state. While many state tax due dates mirror the federal tax deadline, others have a later deadline, and some states don’t have personal income taxes, so there’s no deadline at all! View the state tax deadlines.
Now, we’ll outline the tax extension deadline, quarterly estimated payment deadlines, and more.
Need an extension to file your taxes? You can get an automatic six-month extension of your tax filing due date by submitting IRS Form 4868: Application for Automatic Extension of Time to File. The form must be postmarked on or before the original due date for filing. Check your local post office’s hours so you can be sure to have the payment postmarked before they close. You just have to submit the return by the tax deadline.
The tax extension deadline is generally April 15 (the same as the tax filing deadline) and the due date to file with extension is Oct. 15. Keep in mind, an extension only gives you more time to submit your tax return forms, not more time to pay your taxes. So, if you’re wondering “If you owe taxes, when are they due” – the answer is that payments are due on Tax Day as described above or else a penalty could apply.
Note: the IRS will charge interest if you file your tax return after the tax filing deadline and/or make a late payment penalty unless you make a payment close to your tax liability and pay the remaining amount with your return. Avoid charges by submitting a payment with Form 4868. Payment plans are generally available if you need options when paying.
If you don’t pay enough or any income tax for the year through tax withholding, you’ll need to make estimated tax payments by certain due dates using Form 1040-ES. If the due date falls on a weekend or holiday, the due date is the next business day.
“When are taxes due (2023) for quarterly payments? Here are the dates to jot down:
• Jan. 15 — Pay your fourth payment of your estimated tax by this due date. You won’t need to make the fourth payment if you file your tax return and pay the entire balance due by Jan. 31.
• April 15 —The first payment of your estimated tax is due for the tax year.
• June 15 — The second payment of your estimated tax is due.
• Sept. 15 — The third payment of your estimated tax is due.
Oct. 15 — If you filed for an extension with Form 4868 to extend the due date of your return, this is the last day to file your tax return and pay any tax, interest, or penalties due.
April 15 — It’s the last day to set up an IRA or make IRA contributions for the tax year — even if you get a tax extension.
October 1 — This is the deadline for establishing a SIMPLE IRA.
October 15 — For those who have filed an extension, it’s the last day for recharacterizing an IRA contribution for the year if you filed your return on time. Note that Roth IRA conversions for tax years 2018 through 2025 can’t be recharacterized as Traditional IRAs.
10th of each month — By the 10th day of each month, tip earners should report tips of $20 or more you made during the previous month in writing to your employers. This includes tips paid with cash, checks, and credit cards. Use Form 4070A in Publication 1244 or any other daily record to record your tip income for the month. If the 10th falls on a weekend or holiday, the due date is the next business day.
Jan 15 — If at least two-thirds of your total gross income comes from farming or fishing, you should pay your required estimated tax using Form 1040-ES on or before Jan. 15.
Jan. 31 — W-2s are due from your employer. Forms 1099 are due from payers of interest, dividends, and other specified types of income.
Feb. 15 — If you were exempt from income tax withholding for 2023, you must file a new Form W-4 to continue your exemption for the next tax year.
March 1 — Farmers and fishermen need to file their returns and pay estimated taxes on or before March 1 to avoid a penalty if both apply:
• You farm or fish and at least two-thirds of your total gross income comes from these activities
• You don’t make any estimated tax payments. (Those who made a qualifying payment by Jan. 16, 2023, can wait until the regular tax deadline to file and still avoid estimated tax penalties.)
If you miss the March 1 tax deadline because of severe weather or resulting power outages, you can request a waiver of any estimated tax penalties. You don’t have to be in a state or federally declared disaster area for this. To request the waiver, complete and file Form 2210-F: Underpayment of Estimated Tax by Farmers and Fishermen with your return.
May 15 —Tax-exempt returns (Form 990 series including the 990-N “postcard) are due for calendar year organizations.
June 15 — File tax Form 1040 and pay any tax, interest, and penalties due if you’re a U.S. citizen, resident alien, or you’re an active military member living and working outside the U.S. and Puerto Rico.
If you need additional time to file your return, file Form 4868 to obtain four additional months to file. If you’re a member of the armed forces serving in a combat zone, you might be able to further extend your tax filing deadline.
If you still have questions about tax deadlines, we can guide you in the right direction. Whether you choose to file with a tax professional you can rest assured that we’ll get you the biggest refund possible.