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This article is posted with permission from our partner TaxAct. File your freelance taxes with confidence using TaxAct’s easy-to-use tax software. Freelancers Union members get 25% off the cost of federal and state tax filing: https://freelancersunion.org/tax-center/ Get ready to mark these important dates on your calendar. Here are the most important tax deadlines and due dates for taxpayers to be aware of in 2024 (and answers to some common tax questions). When are taxes due?In 2024, Tax Day falls on April 15. This is the deadline for filing your taxes as a calendar year filer. The April 15 deadline applies to traditional employees who receive a W-2, self-employed sole proprietors (including freelancers, independent contractors, or gig workers), retirees, multi-member LLCs, and corporate returns. What is the deadline for filing taxes as a business?There are two exceptions to the April 15 tax deadline — the due date for partnerships and S corporations to file their business return is March 15, 2024. Why is Tax Day 2024 on April 15?Typically, the tax due date is April 15 unless that day falls on a weekend or a holiday. In that case, Tax Day is usually pushed back to the next business day. What time are taxes due on the 15th?You must file your taxes by 11:59 p.m. on April 15, 2024. This is the last day to file and pay without penalty unless you request a tax extension. Once the clock strikes midnight, you risk potential late fees and late filing penalties. If you need more time to file, you must request an extension (more on that below). Do you have to have your taxes done by April 15?If you can’t file your income tax return by April 15 this year, you can give yourself more time by requesting an automatic tax extension. You can do this when e-filing with TaxAct® by filing IRS Form 4868 before the tax deadline (April 15, 2024). We’ll walk you through the process, help you claim relevant tax deductions and tax credits, and assist you in filing any state extension forms as well, if necessary. Make sure you file for an extension before the tax deadline. If you don’t file for an extension before the Tax Day due date, you risk being charged late fees and penalties. Once you’ve filed for an extension, you will have until Oct. 15, 2024, to complete and file your 2023 federal tax return. Like Tax Day, the extension deadline is typically Oct. 15, unless the 15th falls on a weekend or holiday. One important note — filing an automatic tax extension only gives you more time to file. It will not give you more time to pay any taxes due. When you request an extension with Form 4868, you’ll be able to estimate and pay any taxes due for 2023. If you’re expecting a tax refund and don’t anticipate owing any taxes, you should be in the clear. If you need more time to file your business tax return, you can also request a business tax extension. Partnerships, multi-member LLCs, and corporations can file an extension using Form 7004. Sole proprietors and single-member LLCs will use Form 4868. You can request an extension using either of these tax forms when e-filing with TaxAct using our tax preparation software. Since businesses have an earlier tax filing due date (March 15), the IRS also gives them an earlier extension due date. The tax deadline for filing an extended business tax return for 2023 is Sept. 16, 2024. What is the tax deadline for the first quarter of 2024?April 15 is also the due date for first quarter estimated tax payments. This due date applies to those with little or no income tax withheld from their wages, such as freelancers, small business owners, and investors. The due dates for this year are as follows:
What is the September 15 tax deadline?Sept. 15 is the typical tax filing deadline for Q3 estimated tax payments. It is also the typical tax due date for partnerships and S-corporations that requested a business return extension. However, the deadline for both in 2024 is Sept. 16, as the 15th falls on a Sunday. What are the tax deadlines for 2024?Depending on your tax situation and what kind of filer you are, there are different tax dates to be aware of. Below are the important tax dates and deadlines for individual filers, including those who are retired, an employee, or self-employed. Tip: Before filing, estimate your potential income taxes using our tax calculator.
When are business taxes due?While many deadlines below are similar to individual due dates, small business owners have some unique tax due dates to keep in mind. The list below doesn’t cover every tax deadline, but we’ve included some of the most important ones to remember.
If you’d like a complete picture of all the 2024 tax calendar due dates, head to IRS Publication 509. This article is for informational purposes only and not legal or financial advice.All TaxAct offers, products and services are subject to applicable terms and conditions.via Freelancers Union Blog https://blog.freelancersunion.org/2024/01/10/important-tax-dates-and-deadlines-in-2024/
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AuthorI have 5+ years experience working as a medical transcriptionist. When I am not working, I enjoy sports like playing basketball or judo. I love making friends and connections. Archives
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