2024 Tax Season: Top 5 Dates to Know for Filing Your Return Early

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Written By kevin

A financial strategist with a knack for demystifying taxes and insurance, Kevin distills complex concepts into actionable advice.

Hey there, fellow citizens! Let’s talk about one of our most important civic duties – filing taxes. It’s as exciting as watching paint dry, but hey, it’s crucial to keep Uncle Sam happy and our wallets penalty-free. So, buckle up as we dive into the key dates and deadlines for filing your tax return in 2024.

The Big Day: April 15th

For most of us, the D-Day for filing federal income tax returns is April 15th every year. Miss this date, and you might as well start saving for the late filing penalties or interest on any unpaid amount owed to the IRS. It’s like a late fee for a library book, but a lot less fun.

But hey, if you’re from Maine or Massachusetts, you’ve hit the jackpot! You get an extra couple of days thanks to Patriots Day, a state holiday celebrated every third Monday of April. So, your due date gets pushed to April 17th. Lucky you!

The Procrastinator’s Lifeline: October 15th

If April 15th sneaks up on you and you’re still scrambling to get your tax return ready, don’t panic! You can request a six-month extension from the IRS using Form 4868. It’s like asking your teacher for extra time on your homework. But remember, this extension only gives you more time to submit your form, not to pay your taxes. You still have to make payments by April or July to avoid late payment penalty fees. It’s like ordering a pizza – you can’t eat it until you’ve paid for it.

Other Dates to Circle on Your Calendar:

  • Estimated tax payments: These are due throughout the year (quarter-wise).
  • Partnership returns (Form1065): Due by March 15.
  • Employer W2/1099 forms (Employer Returns): Due by February.
  • Trusts & Estates Federal Returns (Form1041): Due by April 15.

In Conclusion:

Filing taxes on time is as crucial as remembering your spouse’s birthday. It helps you avoid penalties and ensures a timely tax refund. By keeping track of these important deadlines, you can meet your obligations and minimize your financial risks. Remember, missing deadlines can result in fines as hefty as forgetting your anniversary. So, mark these dates on your calendar and stay on top of your tax game like a pro!.