When Is the Tax Deadline and Other Key Filing Dates?
Gain a clear overview of the annual tax schedule, from how key filing dates are set to the procedures for managing your tax payment obligations.
Understanding the federal tax filing deadline, options for extensions, and due dates for other tax payments is an important part of managing personal finances. These annual dates guide tax preparation for millions of people. Navigating these timelines effectively helps ensure compliance with federal tax laws and avoids financial penalties.
The Primary Federal Tax Filing Deadline
For most individuals, the deadline to file federal income tax returns is April 15. This date is the anchor of the tax season, marking the point by which taxpayers must submit their annual returns to the Internal Revenue Service (IRS).
The April 15 deadline is not immovable and can shift. When April 15 falls on a Saturday, Sunday, or a legal holiday, the due date is postponed to the next business day. A holiday affecting this date is Emancipation Day, observed in Washington, D.C., which can push the national tax filing deadline. For the 2024 tax year, the filing deadline is April 15, 2025.
Information Needed for a Tax Filing Extension
An extension provides additional time to file a tax return, but it is not an extension of the time to pay any taxes owed. To avoid potential penalties, you must estimate your tax liability and pay the amount due by the original April 15 deadline.
The document for this process is IRS Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. This form requires you to provide your name, address, and Social Security number. You must also include an estimate of your total tax liability for the year and the total amount you have already paid, as the difference is the balance you should pay with your request.
How to Submit an Extension Request
Once you have completed Form 4868, there are several methods for submission. The traditional method involves mailing the physical paper form to the IRS; the correct mailing address is in the form’s instructions. A more common method is to file the extension request electronically through the IRS Free File program or by using commercial tax preparation software, which guide you through the process.
An automatic extension to file can also be obtained by making an electronic payment of your estimated tax due. By using IRS Direct Pay, the Electronic Federal Tax Payment System (EFTPS), or paying by debit or credit card, you can indicate the payment is for an extension. In this case, you do not need to file a separate Form 4868. A successful extension moves the filing deadline to October 15.
Deadlines for Estimated Tax Payments
Certain taxpayers are required to pay taxes throughout the year in quarterly installments known as estimated taxes. This requirement applies to self-employed individuals, freelancers, and those with income from sources like investments or rent, where taxes are not withheld. The deadlines for these quarterly payments are:
- The first payment is due on April 15.
- The second payment is due on June 15.
- The third payment is due on September 15.
- The final payment is due on January 15 of the following year.
Financial Consequences of Missing Deadlines
Failing to meet tax deadlines can lead to financial penalties from the IRS. The two main penalties are for failing to file on time and for failing to pay the tax owed.
The Failure-to-File penalty is assessed on taxpayers who do not file their return by the due date, including extensions. This penalty is 5% of the unpaid taxes for each month or part of a month that a tax return is late, capped at 25% of your unpaid taxes. If a return is over 60 days late, the minimum penalty is the lesser of $485 or 100% of the tax owed.
The Failure-to-Pay penalty applies to any tax liability not paid by the original April 15 deadline. This penalty is 0.5% of the unpaid taxes for each month or part of a month the taxes remain unpaid, also capped at 25%. If both penalties apply in the same month, the Failure-to-File penalty is reduced by the amount of the Failure-to-Pay penalty, making the combined penalty 5%.
Because the Failure-to-File penalty is significantly higher, it is advisable to file your return on time, even if you cannot pay the full amount owed. In addition to these penalties, interest can be charged on underpayments and can also be applied to unpaid penalties.