The standard tax filing important date is April 15

For most people, the important date to file your federal income tax return is April 15 of the year following the tax year. So for the 2023 tax year, you would file by April 15, 2024. This date is set by federal law and applies whether you file on paper or electronically.

The April 15 important date applies to individual tax returns, joint returns, and most other personal tax filings. If April 15 falls on a weekend or federal holiday, the important date moves to the next business day. For example, if April 15 is a Saturday, you have until Monday, April 17 to file.

You do not have to wait until April 15 to file. Many people file in January or February, as soon as they receive their W-2 forms from employers or 1099 forms from other income sources. Filing early can mean receiving a refund sooner if you are owed one.

Key Takeaways

  • The federal tax filing important date is April 15 unless it falls on a weekend or holiday, in which case it moves to the next business day.
  • You can request a six-month extension, which moves your important date to October 15, but this extends only the filing important date — taxes owed are still due by April 15.
  • If you miss the April 15 important date without an extension, you may owe penalties and interest on any taxes you owe, even if you file later.
  • Some states have different important date than the federal important date, so check your state tax authority's website if you file a state return.
  • Self-employed people and those with business income should note that estimated tax payments are due on different dates throughout the year, separate from the April 15 filing important date.

How to get a six-month extension

If you cannot file by April 15, you can request an automatic six-month extension by filing Form 4868 with the IRS. This form moves your filing important date to October 15. You can file Form 4868 on paper, by mail, or electronically through tax software or the IRS website.

Filing an extension does not extend the important date for paying taxes you owe. If you expect to owe money, you should estimate what you will owe and pay it by April 15, even if you file the extension. If you do not pay by April 15, you will owe interest on the unpaid amount, and you may also owe a failure-to-pay penalty.

An extension gives you more time to gather documents, organize your records, or work with a tax preparer. It does not change what you owe or reduce any penalties if you filed late in previous years.

What happens if you miss the April 15 important date

If you do not file by April 15 and do not have an approved extension, the IRS can charge you a failure-to-file penalty. This penalty is typically 5 percent of the unpaid taxes for each month or part of a month that your return is late, up to a maximum of 25 percent. The penalty is calculated on the amount of tax you owe, not on your income.

You will also owe interest on any unpaid taxes from April 15 until the date you pay. The interest rate is set by the IRS and changes quarterly. Interest compounds daily, so the longer you wait to file and pay, the more interest you accumulate.

If you filed late in the past and owe back taxes, you can still file those returns. The IRS has a statute of limitations, but filing old returns stops the clock on some penalties and allows you to claim refunds if you are owed one.

State tax filing important date

Most states that have an income tax follow the federal April 15 important date. However, some states have different dates or different rules. A few states do not have an income tax at all, so residents of those states only file federal returns.

If you moved to a new state during the tax year or work in a state different from where you live, you may need to file returns in more than one state. Each state's tax authority website lists that state's specific important date and any extensions available.

If you file a federal extension, some states will automatically extend your state filing important date as well, but not all. Check your state's rules to be sure you know when your state return is due.

important date for self-employed people and business owners

If you are self-employed or own a business, your income tax return is still due by April 15 (or October 15 with an extension). However, you also have to make estimated tax payments four times per year if you expect to owe $1,000 or more in taxes.

Estimated tax payments are due on April 15, June 15, September 15, and January 15 of the following year. These dates are separate from your annual filing important date. Missing estimated tax payments can result in penalties even if you file your annual return on time.

If you file a Schedule C (for self-employment income) or own a partnership or S corporation, you may also have to file additional forms with different important date. A tax preparer or the IRS website can tell you which forms explore to your situation.

What to do if you cannot pay by the important date

If you owe taxes but cannot pay the full amount by April 15, you should still file your return on time. Filing on time stops the failure-to-file penalty, though you will still owe interest and a failure-to-pay penalty on the unpaid amount.

The IRS offers payment plans that let you pay your taxes over time. You can set up a short-term payment plan (up to 180 days) or a long-term installment agreement. Both options require you to pay interest and a setup fee, but they prevent your account from going to collections.

You can request a payment plan by calling the IRS, using the IRS website, or working with a tax preparer. If you are having financial hardship, you may also be able to request a temporary delay in collection while you work out your situation.

Frequently Asked Questions

What if April 15 falls on a weekend?

If April 15 is a Saturday, your important date is Monday, April 17. If April 15 is a Sunday, your important date is Monday, April 16. If April 15 is a weekday but a federal holiday, the important date moves to the next business day. The IRS announces the exact important date each year on its website.

Do I have to file if I did not earn much money?

Whether you have to file depends on your income, age, and filing status. The IRS sets minimum income thresholds each year. Even if you do not have to file, you may want to file if you had taxes withheld from paychecks or if you are owed a refund or tax credit.

Can I file my taxes after October 15 if I got an extension?

Yes, you can file anytime after getting an extension, but you should file by October 15 to avoid the failure-to-file penalty. If you file after October 15 without a valid reason, you may owe penalties and interest.

Does an extension give me more time to pay taxes I owe?

No. An extension only gives you more time to file your return. Taxes you owe are still due by April 15. If you do not pay by April 15, you will owe interest and a failure-to-pay penalty on the unpaid amount, even if you file the extension.

What if I filed late last year and still owe penalties?

You can contact the IRS to discuss your situation. The IRS may reduce or remove penalties in certain circumstances, such as if you had a reasonable cause for filing late or if it is your first penalty. You can request penalty relief by mail, phone, or through a tax preparer.