When Do Taxes Have to BeFiled 2024: A Comprehensive Guide
Understanding the deadlines for filing taxes is crucial for every taxpayer. The 2024 tax season is just around the corner, and it’s essential to know when you need to file your taxes to avoid penalties and interest. In this detailed guide, we’ll explore the various deadlines, extensions, and important dates you need to be aware of for the 2024 tax year.
Standard Tax Filing Deadline
The standard deadline for filing taxes in the United States for the 2024 tax year is April 15, 2024. This date applies to most taxpayers, including individuals, married couples filing jointly, married couples filing separately, heads of household, and qualifying widowers.
Extended Tax Filing Deadline
In certain situations, taxpayers may qualify for an automatic six-month extension to file their taxes. This extended deadline is October 15, 2024. To qualify for this extension, you must file Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, by April 15, 2024.
It’s important to note that while an extension to file is automatic, it is not an extension to pay. You are still required to estimate and pay any taxes owed by April 15, 2024, to avoid penalties and interest on the unpaid balance.
Deadlines for Taxpayers Living Abroad
For taxpayers who are living abroad or serving in the military outside the United States, the deadlines for filing taxes are different. These taxpayers have until June 15, 2024, to file their taxes. However, they must still pay any taxes owed by April 15, 2024, to avoid penalties and interest.
Additionally, taxpayers living abroad may qualify for an additional two-month extension, bringing the deadline to August 15, 2024. To qualify for this extension, you must file Form 2350, Application for Extension of Time to File U.S. Income Tax Return for U.S. Citizens and Resident Aliens Abroad.
Deadlines for Taxpayers with Self-Employment Tax
Self-employed individuals, including freelancers, contractors, and small business owners, have additional deadlines to consider. They must file Schedule C, Profit or Loss from Business, with their tax return. The deadline for filing Schedule C is the same as the standard tax filing deadline, April 15, 2024.
However, self-employed individuals have until January 15, 2025, to pay their estimated self-employment tax. Failure to pay the estimated tax by this deadline may result in penalties and interest.
Deadlines for Taxpayers with Estimated Taxes
For taxpayers who are required to make estimated tax payments, the deadlines are as follows:
| Payment Due Date | Payment for |
|---|---|
| April 15, 2024 | First quarter 2024 |
| June 15, 2024 | Second quarter 2024 |
| September 15, 2024 | Third quarter 2024 |
| January 15, 2025 | Fourth quarter 2024 |
It’s important to note that penalties may apply if estimated tax payments are not made on time. Taxpayers should consult with a tax professional to ensure they are meeting all their estimated tax obligations.
Deadlines for Taxpayers with Tax Liabilities
For taxpayers who owe taxes, it’s crucial to meet the deadlines for filing and paying to avoid penalties and interest. The deadlines for filing and paying taxes are the same as mentioned earlier. However, taxpayers who are unable to pay their tax liability in full by the deadline should consider applying for an installment agreement or an offer in compromise.
It’s important to note that penalties and interest will continue to accrue on any unpaid balance until the tax liability is satisfied. Taxpayers should consult with a tax professional to explore their options for resolving their tax liabilities.
Deadlines for Taxpayers with Tax Refunds
For taxpayers who are expecting a tax refund, the IRS
