Or, get unlimited help and advice from tax experts while you do your taxes with TurboTax Live Assisted. And if you want to file your own taxes, TurboTax will guide you step by step so you can feel confident they’ll be done right. No matter which way you file, we guarantee 100% accuracy and your maximum refund.Get started now fixed assets by logging into TurboTax and file with confidence.

Deadline for Filing Income Tax Returns That Have Received Extensions

Also, nine states don’t impose income tax on individuals and three states don’t have a corporate income tax. If you file more than 60 days after the due date, you’ll contend with a minimum penalty of $485 or 100% of your unpaid tax, whichever is less. However, setting up a payment plan cuts the failure to pay penalties by 50%. The IRS provides a full list of what is considered a disaster area including any relief and postponed deadlines.

Is the federal tax deadline the same as a state deadline?

You don’t have to file a separate extension form and you’ll receive a confirmation number of your extension for your records. If you amend a return and owe additional taxes, penalties and interest may apply from the original due date. The IRS assesses penalties based on the unpaid amount, so it is advisable to pay any outstanding balance as soon as possible to minimize these charges. If your return contains no errors or red flags, your refund should be delivered within 21 days if you file electronically and opt to have the money directly deposited in your bank account, the IRS said. Often, individuals and families can get these expanded tax benefits, even tax filing if they have little or no income from a job, business or other source. This means that many people who don’t normally need to file a tax return should do so this year, even if they haven’t been required to file in recent years.

• For more information, see Notifying the IRS by email about Combat Zone Service.
• Every day your tax return is delinquent, the IRS typically charges interest, failure to file penalties and failure to pay penalties until you file your return and pay the balance due.
• We like TurboTax and H&R Block which both offer step-by-step instructions to guide you through the process.
• The IRS extends the annual tax deadline for taxpayers who live or do business in areas afflicted by disasters and for people in states with local holidays.
• For more information, see the IRS Vermont tax relief news release and the Vermont Department of Revenue website.

Credits & Deductions

• If delaying your tax return means you’ll have to wait to apply for these or other important things, then maybe it’s best just to file your return now.
• Second, your deadline also is extended beyond 180 days by the number of days you had left to take action with the IRS when you entered the combat zone.
• If you overpaid for the 2024 tax year, there’s typically no penalty for filing your tax return late.
• This article and related content is provided on an” as is” basis.

Once you’re current with your filing, you can set up an installment plan with the IRS. As part of ongoing IRS improvement efforts, the agency is working to build on the success of the 2023 and 2024 filing seasons. Get help for filing, paying, or both from the IRS, a Tax Return Preparer or the Taxpayer Advocate Service, if appropriate. As a Tax Writer at Kiplinger, Kate believes that tax and finance news should meet people where they are today, across cultural, educational, and disciplinary backgrounds.

For example, you (or your tax preparer) will have more time to determine which tax breaks apply to you and which ones don’t. So, if you are not sure about how to handle something on your tax return, don’t rush it – taking the tax extension will buy you more time to figure it out. There are several ways businesses and individuals can pay their income taxes.

On the other hand, having more time could improve your bottom line. The IRS extends the annual tax deadline for taxpayers who live or do business in areas afflicted by disasters and for people in states https://www.bookstime.com/articles/minimum-wages with local holidays. For individuals, the last day to file your 2024 taxes without an extension is April 15, 2025, unless extended because of a state holiday. You could have submitted Form 4868 to request an extension to file later during the year. If you’re thinking of submitting an extension without payment, however, think again. If you didn’t pay at least 90% of the taxes owed by tax day, the IRS could charge a failure-to-pay penalty of up to 25% of your unpaid taxes—plus interest (currently 8%).