Tax day is approaching. If you're the best at meeting deadlines, we have a few things to write down on your calendar.
When is the 2025 filing deadline?
Most of us have to pay our 2024 taxes by April 15, which falls on a Tuesday this year. If you don't plan to submit by then, you can request a six-month extension.
When will I receive my refund?
If you file electronically and choose to receive your refund by direct deposit, your refund will likely be issued within 21 days, the IRS says. If you mail your paper return, it may take more than four weeks.
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What happens if I miss the tax deadline?
If you don't file your federal tax return on time, the standard penalty is a whopping 5% of the tax owed for each month your return is late, up to 25% of your unpaid balance. If you file a return but don't pay the taxes you owe, or if you get an extension, you'll generally be subject to a much smaller monthly penalty of 0.5% of the amount owed.
Are there any exceptions to the April 15 tax deadline?
yes. The IRS will extend the annual tax deadline for taxpayers who live or do business in disaster-affected areas and those in states with local holidays.
a A complete list of disaster-related extensions can be found on the website..
Hurricane Helen tax deadline
By May 1st, individuals and businesses affected by Hurricane Helen in all or part of Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia must You must file a tax return.
Victims of Hurricane Milton in Florida Until May 1st Submit your tax return.
Extended income tax return filing deadline
If you request an extension, you must submit your return by Wednesday, October 15th. It is important to note that an extension does not give you more time to pay your taxes. If you think you owe tax, it's a good idea to estimate the amount and pay it by April 15 to avoid penalties later.
1099 Deadline
If you're a freelancer, independent contractor, or earn income from something other than a traditional job, you need to receive your 1099 tax form by February 15th. Employers typically have until the end of January to submit their forms.
W-2 deadline
Employers must also send W-2s by January 31st.
Quarterly tax deadline
If you earn income that is not subject to withholding, you generally must pay estimated taxes to the IRS. This can be done quarterly or through one annual estimate. Annualized forecasts are scheduled to be announced on April 15th.
Quarterly payments for 2025 must be paid by the following dates:
◾ First payment: April 15th.
◾ Second payment: June 16th (because the 15th falls on a Sunday).
◾ Third payment: September 15th.
◾ Fourth payment: January 15, 2026.
Daniel de Visse covers personal finance for USA Today.
