Filing taxes on time is crucial to avoid penalties and ensure timely refunds. The U.S. tax system follows an annual schedule, with key dates that individuals and businesses must keep in mind. Here’s a detailed look at the tax filing dates and deadlines in the USA.
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1. Important Tax Filing Dates for 2024
a) Individual Taxpayers
- January 1, 2024 – Start of the 2024 tax filing season (for 2023 taxes)
- January 31, 2024 – Employers must send W-2 and 1099 forms to employees and independent contractors
- April 15, 2024 – Tax Day: Deadline to file Form 1040 and pay any owed taxes
- October 15, 2024 – Extended deadline for those who requested a tax filing extension
b) Business Tax Deadlines
- March 15, 2024 – Tax return deadline for partnerships (Form 1065) and S corporations (Form 1120S)
- April 15, 2024 – Tax return deadline for C corporations (Form 1120)
2. Quarterly Estimated Tax Payments (Self-Employed & Businesses)
Self-employed individuals and businesses must pay estimated taxes quarterly:
- April 15, 2024 – Q1 estimated tax due
- June 17, 2024 – Q2 estimated tax due
- September 16, 2024 – Q3 estimated tax due
- January 15, 2025 – Q4 estimated tax due
3. Filing Extensions & Late Filing Consequences
- Extension Deadline: If you can’t file by April 15, you must request an extension (Form 4868) by that date, giving you until October 15 to file.
- Penalties: Late filing or unpaid taxes may result in interest and penalties, including a 5% late-filing penalty per month.
Mark these dates to ensure a smooth tax filing process and avoid unnecessary fees!
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