Tax deadlines to keep in mind with Tax Day coming up

Tax Day is coming, and if you are the sort who works best against a deadline, we can give you several to pencil into your calendar.

When is the filing deadline for 2024?

Taxes are due by April 15, which falls on a Monday. If you don't expect to file by then, you can request a six-month extension.

What happens if I miss the tax deadline?

If you fail to file your federal tax return on time, the standard penalty is a whopping 5% of any tax due for every month the return is late, up to 25% of the unpaid balance. If you file a return but fail to pay any taxes you owe, or if you get an extension, you typically face a much smaller monthly penalty of 0.5% of any unpaid amount.

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Are there exceptions to the April 15 tax deadline?

Yes. The IRS extends the annual tax deadline for taxpayers who live or do business in areas afflicted by disasters and for people in states with local holidays.

A complete list of disaster-related extensions is on their website.

Maine and Massachusetts tax deadline

Residents of Massachusetts and Maine have until April 17 to file their federal tax returns because of state holidays.

Tennessee tax deadline

Individuals and businesses in parts of Tennessee affected by the series of severe storms and tornadoes that began on Dec. 9 now have until June 17 to file their taxes.

Tax deadline for taxpayers impacted by Israel terrorist attacks

Individuals and businesses affected by the recent terrorist attacks in Israel now have until Oct. 7 to file their taxes.

Deadline for filing income tax returns that have received extensions

If you request an extension, you'll have until Oct. 15 to file your return. Importantly, that doesn't buy you more time to pay your taxes. You'll still have to pay any amount due to avoid penalties, but you'll have more time to complete your tax forms.

1099 deadline

If you're a freelancer, an independent contractor, or earn income from other sources outside of a traditional job, you should have received a 1099 tax form by Feb. 15. Employers are generally required to send the forms by the end of January.

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W-2 deadline

Your employer is also required to have sent you a W-2 by Jan. 31.

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Tax Day 2024 is coming.
Tax Day 2024 is coming.

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Quarterly tax due dates

If you earn income that isn't subject to withholding taxes, you're typically required to make estimated tax payments to the IRS. You can do this every quarter or through one annualized estimate. The annualized estimate is due on April 15.