Tax Deadline 2024: When Is The Last Day To File Taxes?
Updated April 5, 2024 at 11:54 am
April 15, 2024, also known as “Tax Day,” is the official federal tax deadline in 2024. This is when most individual income tax filers must file taxes or have filed an extension. It’s also the deadline to pay any taxes you owe.
But April 15, 2024, isn’t the only tax deadline. If you plan to make quarterly tax payments for tax year 2024, make contributions to retirement accounts or want to make a charitable donation, there are other deadlines to take note of. It can also help to be aware of when your employer is required to send your W2 or 1099 if you’re trying to figure out when to file your taxes.
The following guide will make it easy to find out when taxes are due in 2024.
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When Are 2024 Taxes Due?
Generally speaking, April 15th is the tax return deadline every year unless the day falls on a weekend or federal holiday. In 2023, for example, April 15th was a Saturday, and Emancipation Day was observed in Washington, D.C. on Monday, April 17th. To account for these additional dates, the federal tax deadline was Tuesday, April 18th instead of the 15th that year.
What if I Miss the Tax Deadline?
If you miss the tax filing deadline, you should file your return as soon as possible, especially if you owe taxes. The IRS may assess failure to file penalties, failure to pay penalties and interest charges until you’ve filed your return and paid what you owe. If you expect to receive a refund, you won’t owe penalties in interest, but you won’t receive any refund until you file your tax return.
If you’ve missed the filing due date, you can (and should) take steps to file an extension as soon as possible. An extension gives you until October 15, 2024, to file your return, which can buy you some time to get your tax forms and information together. If you owe taxes, however, you should estimate and pay the amounts you owe the IRS by the traditional April 15th tax deadline. Remember that filing an extension gives you more time to file your taxes, but you don’t get additional time to come up with the money you owe.
“An extension of time to file your return does not grant you any extension of time to pay your taxes,” according to the IRS. “You should estimate and pay any owed taxes by your regular deadline to help avoid possible penalties.”
Tax Deadlines 2024
Depending on your tax situation, you may need to meet additional IRS filing deadlines. Here are the most important tax deadlines for individual filers that apply for the 2023 tax year in 2024.
January 16, 2024: 4th Quarter 2023 Estimated Taxes
January 16, 2024, was the deadline for filing your 4th quarter 2023 estimated taxes. If you are self-employed or a small business owner, you may need to pay estimated taxes to avoid tax penalties. Generally, you are required to pay estimated taxes if your unpaid tax liability when you file your tax return is $1,000 or more.
January 31, 2024: W2 and 1099-NEC Forms Sent
January 31, 2024, was the deadline for your employer to send your W2 form, which contains the information you’ll need to file taxes. Certain 1099 forms, like 1099-NEC forms, should have also been sent out by this date.
February 15, 2024: W-4 Exemption Deadline
February 15, 2024, was the last day to file Form W-4 to tell your employer not to deduct any federal taxes from your wages. To qualify, you must have had no tax liability for the past tax year and expect no tax liability in the current tax year.
April 1, 2024: Required Minimum Distribution Deadline
April 1, 2024, was the deadline to take your 2023 required minimum distribution if you turned 73 in 2023. If you have a retirement plan like a 401(k) or 403(b) or traditional IRA, you must start taking required distributions. But if you have a Roth IRA, minimum distributions aren’t required until the death of the owner.
April 15, 2024: Tax Day
April 15, 2024, is the day that income taxes are due for individuals. Several other tax-related deadlines fall on April 15, 2024.
Extension To File Deadline
April 15th, 2024, is the last day to request an extension if you are unable to file your tax returns on time. Any taxes you owe are still due on tax day, so you should estimate and pay any taxes you owe before April 15th to avoid penalties and interest.
First Quarter 2024 Estimated Taxes
If you expect to owe $1,000 or more in taxes for tax year 2024 (the taxes you pay in 2025) you are generally required to pay estimated taxes. Your first estimated tax payment is due on Tax Day, April 15th, 2024.
IRA and HSA Contribution Deadline for 2023 Tax Year
There are statutory limits on the amount you can contribute to an individual retirement account (IRA) or a health savings account (HSA), and these limits apply per tax year and often change from one year to the next. You can retroactively contribute to an IRA or HSA for tax year 2023 until April 15, 2024.
June 17, 2024: 2nd Quarter 2024 Estimated Taxes
June 17, 2024, is the deadline to make your second quarterly estimated tax payment if you are required to pay estimated taxes. Normally, the deadline for second-quarter estimated tax payments is June 15th. In 2024, however, June 15th is a Saturday, so you get an extra two days to pay your estimated taxes.
September 16, 2024: 3rd Quarter 2024 Estimated Taxes
September 16, 2024, is the deadline to make your third quarterly estimated tax payment if you are required to pay estimated taxes.
October 15, 2024: Deadline To File Extended Tax Return
October 15, 2024, is the last day to file your tax return if you’ve applied for an extension to file. Note that your tax payment is still due on April 15, 2024, even if you have requested a filing extension.
December 31, 2024: Last Day of the Tax Year
December 31, 2024, is the last day of the tax year and is also the last day to make contributions to your 401(k) plan or to incur expenses you expect to deduct when you file your 2024 taxes. Be sure to make any charitable contributions before December 31, 2024, if you want to deduct them in tax year 2024.
January 15, 2025: 4th Quarter 2024 Estimated Taxes
January 15, 2025, is when you must make your final quarterly estimated quarterly tax if you are paying estimated taxes in the 2024 tax year.
How To Get a Tax Extension
If you need additional time to prepare your tax return, you can request an extension, which allows you until October 15th to file your personal income tax return. When you file your extension, you will be required to estimate your tax liability. To avoid penalties and interest, you should pay any amount you expect to owe.
The easiest option for most people to get an extension is to electronically file a request using IRS Free File. You can also get an automatic extension if you pay some part of your estimated income tax due and indicate that the payment is for an extension. Payments with IRS Direct Pay, the Electronic Federal Tax Payment System or made with a credit or debit card through one of the IRS’s approved processors will get you an automatic extension.
You can also use Form 4868 to file for an extension by mail.
How to Get a State Tax Extension
The process to get an extension on your state tax return varies based on the state you live in. For example, some states give you an automatic extension until later in the year if you fail to file by the state tax deadline, whereas others require you to file a federal extension first.
Some states also have additional stipulations to get a state tax extension. In Idaho, for example, you can automatically qualify for a state filing extension to October 15th, 2024 if you have paid at least 80% of the current year’s tax liability or 100% of what you owed in the previous year.
Also be aware that a state filing extension doesn’t give you more time to pay taxes you owe. You still owe taxes to your state by the official filing deadline.
Frequently Asked Questions
What Is the Deadline for Filing Taxes in 2024?
The deadline for filing your income tax return in 2024 is April 15th. If you are unable to file your tax return by this date, you can file an extension, but be sure to pay any amount you expect to owe—an extension does not extend the April 15th deadline to pay.
Is It Too Late To File 2023 Taxes?
The deadline to file a 2023 tax return was April 18, 2023, and the deadline to file an extended return was October 15, 2023. If you haven’t filed a 2023 return, you should still file. You may owe penalties for filing late, but if you are due a refund, you can still get your refund as long as you file within three years of your original due date.
Is It Okay To File Taxes After April 15?
The IRS will grant you an extension until October 15, 2024, if you request an extension before April 15th. Keep in mind that any amount you owe is still due on April 15th and you will owe penalties and interest on any unpaid tax balance. The best way to avoid a penalty is to estimate and pay your expected amount due before April 15th.
What Do I Do if I Can’t Afford My Tax Bill?
According to the IRS, you should file your taxes by the filing deadline anyway and pay as much as you can toward the amount you owe. From there, you should work with the IRS to set up a short-term or long-term payment plan depending on your needs.
What Kind of Payment Plans Does the IRS Offer?
You may be able to set up a short-term payment plan if you owe the IRS less than $100,000 in combined taxes, penalties and interest, and you can repay in 120 days or less. If you owe at least $50,000 in combined taxes, penalties and interest and need more than 120 days to pay, you can try to negotiate a long-term payment plan.
Newsweek writer Holly Johnson contributed to this post.
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