Individual income tax returns are generally due on April 15, unless the date falls on a weekend or holiday or you file Form 4868 requesting an extension until October 15, 4 days ago. See the latest tax information, including the latest information on reconciling early child tax credit payments or applying for a recovery refund credit for lack of stimulus payments. Rocky is a senior tax editor at Kiplinger with more than 20 years of experience covering federal and state tax developments. Most states synchronize the deadline for your income tax return with the due date for federal taxes, but there are some states that have different deadlines (for example, before coming to Kiplinger, you worked for Wolters Kluwer Tax %26 Accounting and Kleinrock Publishing, where he provided breaking news and guidance on certified public accountants and taxes).
lawyers and other tax professionals. The Treasury and the IRS announced the postponement of filing their federal tax return, as well as specific federal tax payments. Gov, the IRS has a variety of other free options available to help taxpayers, ranging from free assistance at Voluntary Income Tax Assistance and Tax Advice for Seniors offices across the country to the availability of the IRS Free File program. Capital Gains Tax Now is the time to review the capital gains tax rules you need to know to plan for the end of the year.
Companies that operate in a calendar year have also been granted an automatic extension to file corporate tax returns and pay any taxes due. If you expect to owe taxes during one or more previous tax years and you haven't filed or paid the taxes due, you're most likely subject to penalties for late filing and late payment. Many commercial tax preparation software companies and tax professionals will also accept and prepare tax returns by Jan. 24 for filing when IRS systems open.
Residents of Maine (opens in a new tab) and Massachusetts (opens in a new tab) have an additional day this year, until April 19, to file their federal income tax return. Depending on your taxable income, you may end up in one of seven different federal tax categories, each with its own marginal tax rate. By law, the IRS cannot issue a refund involving the Earned Income Tax Credit or the Additional Child Tax Credit before mid-February, although eligible individuals can file their returns starting Jan. 24.If you know how much you'll contribute before the tax deadline, you can include it on your tax return and make the contribution before the new deadline.
In addition to IRS Free File, the IRS's voluntary income tax assistance and senior tax counseling programs prepare free basic tax returns for qualified individuals. The next business day was April 18, so this year became the new federal tax filing deadline for most people.