Business Tax Deadline for 2024 Announced: It is essential to remember tax deadlines to avoid penalties and maintain IRS compliance. In general, the critical date for individual filers to submit their 2023 tax returns is April 15, 2024. However, extensions are possible by submitting Form 4868, which extends the due date to October 15, 2024. Taxes still remain due on April 15 regardless of this and must be remitted by this date.
In addition, by April 15, 2024, contributions to IRAs and HSAs for the 2023 tax year must be made.
IRS filing Season Statistics: Tax Return Refund Amounts in 2024 are Lower Compared to 2023
When are the 2024 business tax returns due?
Depending on their fiscal year, partnerships, S corporations, and C corporations impose different due dates on business proprietors.
In general, the filing deadline for partnerships and S corporations is March 15, 2024, whereas C corporations are granted until April 15, 2024.
By what date must an extension request be submitted for business taxes?
Partnerships and S corporations receive extensions on September 16, 2024, and C corporations on October 15, 2024.
Businesses and individuals need quarterly estimated tax payments. These installments are due on April 15, June 17, September 16, and January 15, 2025, for the 2024 tax year.
Tax deadline violations may result in penalties and interest, however, special situations may allow for solutions. If a refund is due, file as soon as feasible; refund claims are allowed for three years from the tax return due date. Filing taxes on time and setting up installment arrangements helps reduce penalties and interest.
Electronic filing is recommended for its accuracy and speed, and direct payment ensures the fastest tax returns. Staying up to speed on tax deadlines and filing electronically helps streamline the tax filing process and reduce IRS issues.
IRS Tax Fourth Stimulus Checks – Check the Expected Date for 4th Stimulus Check
