When Are Taxes Due? Important Deadlines You Need to Know

The United States tax system is structured around a series of deadlines for filing tax returns and submitting payments to the Internal Revenue Service (IRS). Adhering to this calendar is a fundamental part of tax compliance for both individuals and businesses. Failing to act by the specified dates can lead to financial consequences, making awareness of the tax calendar important for financial management. These deadlines are established by law and apply nationwide, though certain circumstances can alter them.

The Annual Federal Income Tax Deadline

For most individuals, the main deadline for federal taxes is April 15. This date is for filing your individual income tax return, commonly known as Form 1040, for the previous year. It is also the final day to pay any tax liability you owe for that year without penalty.

If April 15 falls on a Saturday, Sunday, or a legal holiday, the deadline shifts to the next business day. The national deadline can also be affected by Emancipation Day, a holiday observed in Washington, D.C. Because the IRS headquarters is located there, this holiday can push the tax filing deadline to the next business day for all taxpayers.

If you file by mail, the return must be properly addressed, have sufficient postage, and be postmarked by the deadline. For electronic filing, the submission must be transmitted on or before midnight in your local time zone on the due date.

Filing for a Tax Extension

If you cannot prepare your federal income tax return by the April deadline, you can request an automatic six-month extension by filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. This form must be submitted by the original tax deadline and moves your filing deadline to October 15.

An extension provides more time to file, not more time to pay. Any income tax you estimate you will owe is still due by the original April deadline. You must properly estimate your tax liability on Form 4868, as failure to pay by the original due date can result in late-payment penalties.

You can file Form 4868 electronically using tax software or through a tax professional. Another method is to make an electronic payment to the IRS for part or all of your estimated income tax, indicating that the payment is for an extension. In this case, you do not need to file a separate form, as the IRS automatically processes an extension for you.

Quarterly Estimated Tax Deadlines

Not all income is subject to withholding, which is how many employees pay their taxes. Individuals who are self-employed, freelancers, or have significant income from sources like interest or rent may need to pay estimated taxes. This system requires paying tax on income as it is earned throughout the year in four installments.

The deadlines for these quarterly payments are:

• April 15
• June 15
• September 15
• January 15 (of the following year)

Each payment covers income earned during a specific period of the year. If you underpay your estimated taxes, you may be subject to a penalty. To avoid this, you must pay at least 90% of your current year’s tax liability or 100% of the previous year’s liability. This threshold increases to 110% for higher-income taxpayers.

State Income Tax Deadlines

Most taxpayers must also file a state income tax return, and each state sets its own tax laws and deadlines. While many states align their filing deadline with the federal date of April 15, this is not universal. It is best to confirm the date with your state.

A few states do not have a personal income tax. For all others, the most reliable source for deadline information is the state’s official department of revenue or taxation agency. Visiting the agency’s website will provide the most accurate information for timely filing and payment.

Consequences of Missing a Deadline

Failing to meet tax deadlines can result in two primary penalties from the IRS: the Failure to File penalty and the Failure to Pay penalty. These are calculated based on the amount of unpaid tax and how late the return or payment is.

The Failure to File penalty is for filing your return after the due date, including extensions. The penalty is 5% of the unpaid taxes for each month or part of a month a return is late, up to a maximum of 25%. If your return is over 60 days late, the minimum penalty is the lesser of $510 or 100% of the unpaid tax.

The Failure to Pay penalty applies if you do not pay the taxes you report on your return by the due date. This penalty is 0.5% of the unpaid taxes for each month or part of a month the taxes remain unpaid. The total penalty is also capped at 25% of your unpaid taxes.

If both penalties apply in the same month, the Failure to File penalty is reduced by the amount of the Failure to Pay penalty, resulting in a combined maximum penalty of 5% for each month. The penalty for failing to file is more severe, so it is best to file on time even if you cannot pay the full amount you owe.