The tax filing deadline is the day that you must complete your federal and state income tax returns. For the United States, the tax filing deadline is April 15th except for holidays or weekends when the deadline is extended to the next business day. when can you file taxes? An Guide to Filing Your Taxes on Time. For example, if the date of April 15th is a Saturday The tax filing deadline will be moved to the following Monday.
The tax deadline expires on April 15th but you are able to start filing your tax returns beginning January 1st. In fact, tax filing is encouraged by the Internal Revenue Service (IRS) encourages taxpayers to file their taxes as early as possible in order to avoid last-minute rush. Filing your taxes early also allows you to receive your refund faster.
However, if you miss the deadline for filing your taxes, you will face penalties and interest on taxes owed. The interest and penalties will accrue until you file tax returns and settle any remaining taxes owed. It is therefore essential to file your taxes on time or to apply for an extension in case you require additional time to complete taxes.
If you require extra time to finish your tax return, you may request a tax extension. An extension of tax time gives you an additional six months to prepare the tax returns. However, you must file to extend the extension before the tax deadline that is on April 15th.
It is important to remember that an extension of tax deadlines is only a way to give you time to file the tax returns, but not more time to pay taxes due. If you are owed taxes, you should estimate and pay them by the tax filing deadline to avoid penalties and interest.
Making your tax payments early can provide many benefits. First, you can avoid penalties and interest on any taxes owed. In addition, you'll get your tax refund sooner in the event that you are owed one. Third, you'll can plan better to pay any tax due when you file your tax return early.
Moreover If you file your tax returns on time, you can save yourself the stress of having to rush to finish your tax return by the deadline. You have time to prepare your tax return, ensuring you have claimed all the deductions and credits you are entitled to.
In the end, submitting your taxes on time is essential to avoid penalties and interest on any taxes owed. It is also advantageous to file tax returns early so you get your tax refund sooner and also to have time to prepare for any tax owed. If you need more time to complete your tax return, apply for a tax extension by the deadline for tax filing. By understanding the tax filing deadline and taking the necessary actions to submit your tax returns in time, you will make sure that your tax season is stress-free.