Irs Tax Return Calendar 2024

Filing taxes can be a daunting task, but with proper planning and organization, you can breeze through tax season. One important aspect of filing taxes is knowing the IRS tax return calendar for the upcoming year. In this article, we will provide you with all the essential information about the IRS tax return calendar 2024.

What is IRS Tax Return Calendar?

IRS tax return calendar is a schedule of important dates and deadlines that taxpayers need to follow while filing their taxes. The calendar includes dates for filing tax returns, paying taxes, and other important tax-related activities. The IRS releases the tax return calendar for each year, and taxpayers need to follow the dates mentioned in it to avoid any penalties or late fees.

When will the IRS Tax Return Calendar 2024 be released?

The IRS usually releases the tax return calendar for the upcoming year in the last quarter of the current year. Thus, the IRS tax return calendar for the year 2024 is expected to be released in the last quarter of 2023. Taxpayers can check the IRS website or consult with their tax professionals to get the latest updates on the tax return calendar.

What are the important dates in the IRS Tax Return Calendar 2024?

The IRS tax return calendar 2024 will have several important dates that taxpayers need to keep in mind. The following are some of the important dates in the IRS tax return calendar 2024:

January 15, 2024

Deadline for the fourth quarter estimated tax payment for the year 2023.

April 15, 2024

Deadline for filing the federal income tax return and paying any taxes owed for the year 2023.

June 17, 2024

Deadline for the second quarter estimated tax payment for the year 2024.

September 16, 2024

Deadline for the third quarter estimated tax payment for the year 2024.

October 15, 2024

Deadline for filing the federal income tax return for those who requested an extension to file their return.

What should taxpayers do to prepare for the IRS Tax Return Calendar 2024?

Taxpayers should start preparing for tax season well in advance to avoid any last-minute rush. Some of the things that taxpayers can do to prepare for the IRS tax return calendar 2024 are:

• Gather all the necessary documents, such as W-2s, 1099s, and receipts for deductions and credits.
• Keep track of all the important dates mentioned in the tax return calendar and set reminders to avoid missing any deadlines.
• Consult with a tax professional to ensure that you are taking advantage of all the available tax deductions and credits.
• File your taxes electronically to ensure accuracy and faster processing.

Frequently Asked Questions

Q1. What happens if I miss the deadline for filing my tax return?

A1. If you miss the deadline for filing your tax return, you may have to pay a penalty and interest on any taxes owed. The penalty for late filing can be up to 5% of the unpaid taxes per month, up to a maximum of 25% of the unpaid taxes.

Q2. Can I file my tax return after the deadline?

A2. Yes, you can file your tax return after the deadline by requesting an extension. However, you will still need to pay any taxes owed by the original deadline to avoid penalties and interest.

Q3. What should I do if I cannot pay my taxes by the deadline?

A3. If you cannot pay your taxes by the deadline, you should still file your tax return and pay as much as you can to avoid penalties and interest. You can also contact the IRS to set up a payment plan or apply for an Offer in Compromise to settle your tax debt for less than what you owe.

Conclusion

Knowing the IRS tax return calendar for the year 2024 is essential for every taxpayer to avoid any penalties or interest on late payments. Taxpayers should start preparing for tax season well in advance and consult with a tax professional to ensure that they are taking advantage of all the available tax deductions and credits.