While the majority of states align their tax deadlines with the federal government’s timetable, some states operate on their own schedule. Below, we’ll explore the key dates you need to be aware of to navigate this tax season successfully. For additional insights on taxes, discover how to create an account on the Internal Revenue Service (IRS) website, gain knowledge about this year’s child tax credit, and explore our top picks for the best tax software.
The approaching deadline for filing your tax return might seem distant, but the process of collecting essential tax documents from various sources can be time-consuming and, at times, exasperating. From documents provided by employers to those from mortgage companies and investment firms, gathering all necessary paperwork is crucial for a seamless filing experience.
Understanding IRS and State Tax Deadlines in 2024
The official kickoff for the 2024 tax season was on January 29, signaling that the IRS is now accepting and processing tax returns. If you’re eager to gain an early start on submitting your returns, this is your green light.
Keep in mind that employers are obligated to dispatch W-2 and 1099 income tax forms to employees by the end of January. If you haven’t received yours, promptly check your mailbox and reach out to your company’s HR or payroll department for assistance.
Federal Tax Return Deadline
For those who prefer waiting until the eleventh hour, the deadline to file federal tax returns for the majority of taxpayers is set for Monday, April 15, 2024. However, residents of Maine or Massachusetts enjoy an extended deadline until Wednesday, April 17, 2024, owing to the Patriot’s Day and Emancipation Day holidays, as stated by the IRS.
In specific cases, such as residing in a federally declared disaster area (like parts of Connecticut and Rhode Island this year), you may be granted additional time to file. Additionally, individuals serving abroad in the military may also receive an extension.
Securing a Tax Extension
April 15 not only marks the deadline for filing federal tax returns but also serves as the cutoff for filing a tax extension with the IRS. It’s crucial to understand that obtaining an extension does not alter the payment deadline. While it provides an extension until October to complete the necessary paperwork, any estimated amount owed must still be paid by April 15 to avoid late penalties.
Remember that the extension granted by the authorities should only be requested when necessary, and that it is best to submit your tax return as quickly as possible, to get that out of your head once and for all.