Tax filing deadlines can sneak up on you if you don't read our emails, and there’s nothing more frustrating than having to pay a fine that could have been avoided.

Take a few minutes to save each relevant filing date to your calendar ), and stay ahead of the IRS.

  • Tax Day: For 2024, the official tax filing deadline, commonly known as "tax day," falls on April 15. However, this date can vary depending on the type of business entity you have and whether the 15th falls on a weekend or holiday, in which case the deadline would be the next business day.
  • Extensions and Penalties: While you can request a filing extension up until April 15, it’s crucial to remember that this extension does not apply to the payment of taxes owed. Filing your taxes on time is vital because the penalty for late filing is significantly higher—5% per month of the unpaid amount—compared to just 0.5% per month for late payment.
  • Understanding Tax Deadlines: Although the main "tax day" is in mid-April, businesses following a non-calendar fiscal year will have different deadlines. It's essential to know your specific filing requirements based on your business structure and fiscal year end date.
  • Payment Deadlines: Even if an extension is granted for filing, the deadline for payment remains unchanged. For most taxpayers, it’s advantageous to file on time, regardless of their ability to pay, to avoid higher penalties associated with late filing.
  • Mailing vs. E-filing: If submitting a paper return, ensure it is properly addressed, has sufficient postage, and is postmarked by the filing deadline to be considered timely. Alternatively, e-filing offers a more straightforward way to ensure your return is filed on time, as long as it’s submitted before midnight on the due date.
  • Quarterly Payments for the Self-Employed: Self-employed individuals typically make estimated tax payments throughout the year rather than a single annual payment. For 2024, these estimated taxes are due on April 15, June 17, September 16, and January 15, 2025.
  • Extension Deadlines: Individual taxpayers and businesses have until their respective deadlines to file for an extension. For example, individuals and C corporations can request an extension up until April 15, 2024, while S corporations and partnerships must do so by March 15, 2024.
Tax Season Deadlines by tandyconsulting