Important Tax Deadlines and Dates for 2024

Keeping an eye on key tax dates throughout the year is half the battle of staying on top of your taxes. In this post, we’ll go over the key tax dates in 2024, along with some tips on how to stay on top of them. 

Key 2024 Tax Dates

Here is a quick overview of some of the key tax dates in 2024:

• January 16th - 4th quarter 2023 estimated tax payments are due.

• January 18th – The IRS begins accepting tax returns and processing refunds.

• January 31st – Employers must send out all W-2s and most 1099s.

• April 15th – Tax Day! Form 1040 must be submitted unless you have filed an extension. It’s also the deadline to contribute to IRA and HSA accounts for 2023 and to pay your 1st quarter 2024 estimated taxes.

• June 17th – 2nd quarter 2024 estimated tax payments are due.

• September 16th – 3rd quarter 2024 estimated tax payments are due.

• October 15th – Deadline to file extended tax returns.

When is the 2024 IRS Filing Deadline?

The filing deadline for your 2023 taxes is April 15th, 2024. That means that you must submit Form 1040 no later than April 15th, 2024, to avoid any late-filing penalties and fees. 

When is the Deadline to File an Extension?

If you aren’t able to meet the deadline to file your taxes in 2024, don’t rush to file! Instead, consider filing a tax extension. A tax extension gives you an additional 6 months to collect any necessary documentation and search for additional deductions and credits. 

The deadline to file for an extension in 2024 is April 15th. If you don’t file for an extension by the deadline, you are unable to get extra time to file your tax return (in most cases) without paying costly penalties. 

If you need help submitting an extension, check out our guide on how to file a tax extension. 

When is the Deadline to File Your Extended Tax Return?

If you file for a tax extension and it’s approved by the IRS, then you’ll get an additional 6 months to file your tax return. The deadline to file your extended tax return in 2024 is October 15th. 

While a tax extension is a procrastinator’s dream, we don’t recommend waiting until October to start working on your tax return. It’s nearly impossible to get a second tax extension from the IRS, and if you submit your extended return late, you can expect to pay some hefty IRS fees.

When are 2023 Tax Payments Due?

If you owe taxes, any owed payments are due no later than April 15th. If you know that you’ll owe money for the 2023 tax year but can’t afford to pay it, then you have options, which include:

• Paying up to 90% of your tax bill to avoid penalties

• Applying for penalty relief

• Setting up a payment plan

• Negotiating an offer in compromise

To learn more about your options, check out our post on handling taxes when you can’t pay by the deadline. 

When are Estimated Tax Payments Due?

If you’re self-employed or make money from a side gig that you don’t pay federal taxes on, then you have to pay estimated quarterly taxes. One method to calculate your payments is to take your anticipated tax liability for 2024 and divide it by 4. 

Estimated tax payments in 2024 are due:

• Period 1 (January 1st - March 31st): April 15th, 2024

• Period 2 (April 1st - May 31st): June 17th, 2024

• Period 3 (June 1st - August 31st): September 16th, 2024

• Period 4 (September 1st - December 31st): January 15th, 2025

When Can I Submit My Tax Return in 2024?

If you’re anxious to get your tax return submitted, the IRS is anticipated to start accepting tax returns starting on January 18th, 2024. You can submit your tax return any time between then and April 15th, 2024, without needing to file an extension.

When Will I Receive My Tax Refund in 2024?

If you’re owed a refund after filing your tax return, you’ll want to know when you’ll receive that refund. Tax refunds are not paid on a specific date, but are typically paid within 21 calendar days of the date your tax return was accepted. 

Therefore, if you file on January 18th - the first-day tax returns will be accepted in 2024 - the earliest you can expect to receive your tax refund is February 8th, 2024.

If you wait until April 15th to submit your tax return, then technically, you can expect your refund by May 6th, 2024. However, due to the volume of people who wait until the last day to submit their tax returns, it could take much longer to receive your refund.

When is the Deadline to Contribute to My IRA and HSA?

Most people don’t realize that they can continue making IRA and HSA contributions that are credited to the previous calendar year well into the next year. In 2024, you can make contributions to your IRA and HSA until April 15th, 2024, and still have it count as a 2023 contribution.

When Can I Expect My W-2?

Employers are required to send out Form W-2 for their employees by January 31st, 2024. Most employers will send W-2s well before the deadline, but receiving it by January 31th (or shortly after) will give you plenty of time to prepare your tax return by April 15th.

When Can I Expect My 1099?

A 1099 is an “informational form” that informs the IRS that you’ve received payment from a business or individual (not as an employee). Most 1099s will be sent by January 31st, 2024; however, some 1099s can be sent as late as February 15th, 2024. Either way, you should still expect to receive any 1099s before the April 15th tax deadline.

What Happens If I Miss a Tax Deadline?

Missing a tax deadline can be costly. How to handle missing a tax deadline depends on the tax deadline you miss.

• Missing a payment deadline – Pay as soon as possible to avoid being charged penalties and interest.

• Missing a filing deadline – File your taxes as soon as possible to avoid the 5% per month penalty on taxes owed from accumulating. 

If you’re worried about potentially missing the tax filing deadline, file an extension ahead of time! That way, if you miss the filing deadline, you’ll avoid any potential late-filing penalties. Get started filing your tax extension at IRSextension.online today!