When are My Taxes Due?

When Are Taxes Due? Tax Deadlines You Need to Know

When are My Taxes Due?

Staying on top of tax deadlines is essential for every taxpayer. Missing deadlines can result in penalties, interest charges, and potentially disrupt your financial planning.

Let’s break down the major tax deadlines you need to keep in mind to stay compliant and avoid last-minute stress.

1. Federal Tax Deadline (Individual Filers)

Due Date: April 15th (or the next business day if it falls on a weekend or holiday)

The primary tax deadline for individual federal income tax filings is April 15th each year. This includes filing your Form 1040. If you’re unable to file by this date, you may request an extension until October 15th, giving you an additional six months to file.

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Personal Taxes

2. Estimated Quarterly Tax Payments

Here are the due dates for quarterly tax payments:

  • Quarter 1: April 15th
  • Quarter 2: June 15th
  • Quarter 3: September 15th
  • Quarter 4: January 15th of the following year

If you’re self-employed, a freelancer, or have significant income not subject to withholding, you’ll need to make estimated tax payments quarterly. These installments help you meet tax obligations throughout the year and avoid penalties for underpayment.

3. Extension Deadlines for Federal Taxes

Individual Extensions: October 15th

Filing Form 4868 gives you until October 15th to file your individual federal tax return. It’s important to note that while the extension applies to filing, any taxes owed must still be paid by April 15th to avoid penalties.

4. State Tax Deadlines

Each state may have different deadlines, and some states do not impose income taxes. When in doubt, be sure to consult with your state’s tax authority or a tax professional to confirm the exact due dates.

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When are Taxes Due: Tax Deadlines You Need to Know

5. Tax Deadlines for Retirement Contributions

IRA and HSA Contributions: April 15

You can make contributions to an Individual Retirement Account (IRA) or a Health Savings Account (HSA) until April 15th of the following year. These contributions can help reduce your taxable income and may provide significant tax benefits.

6. Other Important Deadlines

  • Payroll Tax Deposits: Based on your payroll schedule (monthly or semi-weekly)
  • 1099 and W-2 Filing Deadlines: January 31th

Employers and businesses must provide employees and contractors with W-2s and 1099s by January 31th each year. Additionally, these forms must be filed with the IRS by the same date to avoid penalties.

Final Tips for Staying on Top of Tax Deadlines

  • Organize Early: Begin gathering your documents and receipts as early as possible to ensure you have everything you need for accurate filing.
  • Use Tax Software or Professional Help: Tax software and professional accountants can help ensure you meet all deadlines and take advantage of any deductions or credits available to you.
  • Set Reminders: Setting calendar reminders or subscribing to IRS alerts can help you stay on track.

Related: How to Prepare for Tax Season: A Step by Step Guide

Closing Thoughts

Knowing your tax deadlines helps you avoid unnecessary penalties and interest fees. Keep these key dates in mind, stay organized, and consult with a tax professional if you have any questions. By staying on top of deadlines, you can ensure a smooth and stress-free tax season.

If you need professional help, look no further than Tax Pros Online to assist you with your personal taxes!