The tax filing deadline for most Americans is April 18th, but in some states, the deadline is extended to the next Monday, April 19th. There are two exceptions to this rule, however, including Massachusetts and Maine, where the deadline is extended to April 19th, the day of Patriots Day. Those who need more time to file should file Form 7004 and ask for an extension until September 15th, five months after the original deadline.
If you need more time, the IRS provides special tax relief for natural disaster victims. Depending on the disaster, the IRS may grant you a filing and payment extension. In recent natural disasters, the April 18 tax filing deadline was extended. Here are some examples of the relief offered:
Even if you have a large refund due, you may still owe taxes to the IRS. In such a situation, it’s important to file your tax return as early as possible. This way, you can gather all of the necessary documents and make an appointment with a tax professional. Even if the IRS extends the deadline, you should file before the deadline to avoid paying penalties that may be due. Moreover, if you expect a refund, filing early is always the best option.
Remember that the tax filing deadline is pushed back if the deadline falls on a weekend. For example, this year, April 15 fell on a Friday. In Washington, D.C., Emancipation Day was observed on that day. Because of this, the IRS could not enforce a tax return due date on April 15, so the deadline fell on April 18 instead. As a result, the tax filing deadline for most taxpayers was moved to the next available business day.
The date of the tax filing deadline is extended in Maine and Massachusetts due to Patriots’ Day, which is a state holiday celebrating the Revolutionary War. In Maine, the tax deadline fell on April 18 for most residents, but the deadline for Maine and Massachusetts residents was extended until the following business day. However, in those states, the date of April 18 fell on a Sunday, preventing the IRS from processing paper returns on April 18.
The IRS also extends the tax filing deadline until the end of February. By using IRS Free File, taxpayers can file their returns electronically. During this time, many commercial tax preparation software companies and tax professionals will accept your completed returns and file them before the deadline. In fact, many tax professionals will start accepting and preparing tax returns for clients prior to the January 24 deadline. So, it’s important to plan ahead. The IRS may be extending the tax filing deadline on the basis of these reasons, but it’s still possible to make a payment before the deadline.
Many people fail to file their returns, or they don’t have the money to pay for them. However, the penalties for failing to file a tax return can add up quickly. A penalty for not filing is 5% of the amount of taxes not paid, up to a maximum of 25 percent. For people who have a long history of timely filing, the penalties can be eliminated once a year. If you miss the deadline, you could end up spending an additional $1250 in penalties.