The IRS expects that over 128.7 million tax returns will be filed by this year’s deadline, but before we can do that, we need to know exactly when the IRS begins accepting returns, important due dates, and info on processing times.
Let’s dive in.
January 29th: The IRS Begins Accepting Individual Tax Returns
The IRS is now accepting tax returns!
As of January 29th, the IRS has begun accepting individual tax returns. Of course, many people have already begun working on their taxes, whether it’s gathering important forms and data or setting up that meeting with a CPA.
Even if you have a straightforward filing, it’s always a great idea to get started early.
April 15th: Federal Tax Filing and Payments Are Due
Individual tax filings with the IRS are due April 15th.
Of course, this doesn’t mean you should wait until April 15th to file, and it definitely doesn’t mean you should wait until April to contact your CPA. Tax season is an incredibly busy time of year for accountants and CPAs, so it’s important to find a reputable professional early.
If you cannot file your taxes on time, make sure you are set up for an extension.
Here are some helpful articles if you may not be able to file on time:
- What Happens if I Don’t File My Taxes on Time?
- What to Do After Filing an Income Tax Extension?
- IRS Late Filing Penalty vs. Late Payment Penalty
Remember, the earlier you get started, the more time you have to gather documents, understand deductions and credits you are eligible, and the less likely you are to face fees, fines, and penalties.
April 15th: State Taxes Are Due (except for Maine and Massachusetts)
State taxes for most states (notably with the exception of Maine and Massachusetts), are also due on April 15th.
If You Live in a State That Does Not Have Income Tax…
There are states that do not have income tax, and therefore do not require state income tax forms or payments. This includes:
- Alaska
- Florida
- Nevada
- South Dakota
- Texas
- Washington (however, you must file if you have capital gains tax)
- Wyoming
However, it’s critical that you check with your state and ensure you are not missing any paperwork or filing requirements.
Check Your State’s Filing Requirements and Deadline
It’s always, always, always important to double check filing deadlines for your date. You can do that by visiting your state’s department of revenue, or, simply asking your CPA.
- Alabama
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Puerto Rico
- Rhode Island
- South Carolina
- Tennessee
- Utah
- Vermont
- Virginia
- West Virginia
- Wisconsin
Note: We work with clients across the US, and it’s not uncommon for tax laws and guidelines to change. Make sure you are up to date with the current season!
October 15th: Due Date for Taxpayers Who Filed Extensions
If you filed an extension for your federal income taxes, you must file your return by October 15th. If you are filing an extension, you want to let your CPA know right away, and team up to develop a plan of attack. In some cases, your accountant may advise you to file an extension. Be sure you understand the obligations and requirements for filing an extension, and how this will impact your payments and potential for fines and penalties.
Here is some additional reading that might help:
- What Happens if I Don’t File My Taxes on Time?
- What to Do After Filing an Income Tax Extension?
- IRS Late Filing Penalty vs. Late Payment Penalty
If you are already looking into what it will take to get your taxes filed, congratulations! Early filers often see benefits across the board, including greater access to their CPA, less stress, fewer refund and processing delays, and of course, the big one—peace of mind.
If you are looking for an accountant this tax season, please consider Akif CPA and contact us today.
