If you’re owed a refund and file late, the IRS won’t levy a penalty, but you won’t get your refund until you file. You must still pay any taxes owed by April 18 or face penalties for late payment. However, an extension to file doesn’t grant an extension to pay. 15 falls on a Saturday this year, the extended deadline is actually Oct. The automatic extension typically gives you until Oct. If you must file late, you can get an automatic extension by filing IRS Form 4868. (When both penalties are levied in the same month, the total penalty is 5 percent a month: 4.5 percent for failure to file and 0.5 percent for failure to pay.) Interest also accrues, at a current rate of 3 percent. For most taxpayers, federal income tax returns and tax payments for tax year 2021 will be due on Monday, April 18, 2022. Statements include two coupons, one for each due date. The penalty for late filing is 5 percent of the amount due each month, and the penalty for failure to pay is 0.5 percent a month, and maxes out at 25 percent a year. You will receive a statement with upcoming due dates in April. If you intend to use 2021s tax bill to project 2022s liability, take the. The same goes for victims of the December tornados and flooding in Kentucky. Estimated tax payment deadlines are usually April 15, June 15, Sept.
Victims of the January Colorado wildfires will have until May 16 to file their federal tax returns. Some taxpayers affected by recent natural disasters get extra time to file. The holiday marks the first battles of the American Revolution in 1775. This follows the Treasury Secretary announcement that the Internal Revenue Service (IRS) has moved the deadline for 2020 federal individual income tax returns to May 17, 2021. Making matters more complicated, taxpayers in Maine and Massachusetts don’t have to file until April 19, because those states celebrate Patriots’ Day on April 18. Additionally, the deadline for first quarter tax year 2021 individual estimated tax payments remains April 15, 2021. Emancipation Day commemorates the day in 1862 when President Abraham Lincoln signed into law a measure to free enslaved people in D.C. (Adding to the complexity, the actual date of Emancipation Day is April 16, but since it falls on a Saturday this year the holiday is celebrated a day early.) holidays as if they were national holidays for tax-filing purposes. The June tax return is due July 25.) Quarterly returns are due the end of the month following the tax. By law, the IRS is required to treat D.C. Where the income tax return form or balance of tax payable is not furnished within the grace period, the original due date will be taken for the purpose of calculating penalties (note that all references to due date in the table below refer to the original due date). Monthly returns are due the 25th of every month. The filing deadline this year is Monday, April 18, because Washington, D.C., observes Emancipation Day on Friday, April 15.
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