Staying informed about US tax deadlines is critical to ensuring compliance and avoiding penalties. In the United States, both individuals and businesses must adhere to a variety of tax filing and payment deadlines throughout the year. Here is an overview of the key tax dates you should mark on your calendar for 2025.
Understanding the tax filing process is the first step toward ensuring compliance:
- ● Calendar-Year Filing : Most individuals and businesses follow a calendar-year us tax filing deadlines schedule, where tax years align with the calendar year (January 1 – December 31).
- ● Fiscal-Year Filing : Some businesses opt for a fiscal year, which might not align with the calendar year. Deadlines for fiscal-year filers depend on the specific period chosen.
- ● Weekend or Holiday Adjustments : If a tax deadline falls on a weekend or federal holiday, it is pushed to the next business day.
The federal U.S. tax deadline extension for filing taxes, when operating on a calendar-year basis, is generally April 15, which applies to most individual taxpayers. For the 2024 tax year, the deadline to file your tax returns is set for April 15, 2025, unless delayed due to a state holiday. This standard deadline ensures individuals and businesses stay compliant with federal tax obligations. However, the situation differs for businesses operating in a fiscal year. In such cases, the tax filing deadline is the 15th day of the third or fourth month following the close of the fiscal year, depending on the type of business entity. If the due date falls on a weekend or legal holiday, the deadline shifts to the next business day.
For individuals or businesses needing additional time to file their tax returns, the IRS provides an option to request an extension by submitting Form 4868. This extension allows filers to push the tax return deadline to October 15, 2025, giving them more time to prepare and submit accurate returns. However, it's crucial to remember that an extension to file does not extend the deadline to pay taxes owed. Any unpaid taxes must still be paid by the original April 15 deadline to avoid interest charges and late-payment penalties.
In addition to these general deadlines, there are specific due dates for different types of taxpayers and tax situations. For instance, S corporations (filing Form 1120-S) and partnerships (filing Form 1065) must submit their tax returns by March 15, 2025. Meanwhile, C corporations (filing Form 1120) and individual taxpayers (filing Form 1040) are required to file by April 15, 2025. This April deadline is also critical for submitting first-quarter estimated tax payments for the 2025 tax year. These payments are especially important for self-employed individuals, independent contractors, and others whose income is not subject to tax withholding.
Overall, the U.S. tax system has multiple key deadlines to keep in mind, ensuring taxpayers meet their obligations while providing options for those who need extra time to file.
This date is crucial for individuals who earn income that is not subject to withholding, such as self-employed individuals, freelancers, or those with rental, investment, or other untaxed income sources.
The IRS requires taxpayers in these categories to make quarterly estimated tax payments throughout the year to cover their federal income tax obligations. The payment due on January 15, 2025, represents the fourth and final installment for the 2024 tax year.
Key Points :
- ● You must estimate your total tax liability for the year and divide it into quarterly payments.
- ● There may be fines and interest if these payments are not made on time.
- ● You might not be required to make this fourth projected payment if you file your 2024 tax return before January 31, 2025, and settle any outstanding debt.
The IRS typically begins accepting and processing tax returns for the previous year in late January. For the 2024 tax year, this is expected to occur around January 27, 2025.
Why It Matters :
- ● Filing your taxes early can expedite your refund, as early filers often avoid processing delays.
- ● Early filing also helps mitigate risks of identity theft, as it prevents others from filing a fraudulent return in your name.
Pro Tip : If you’re eligible for a refund, submitting your return as soon as the IRS opens tax season ensures a quicker payout.
Employers and payors have specific obligations to issue tax forms by January 31, 2025, to employees and contractors:
1. W-2 Forms : To record their 2024 salary and tax withholdings, employees must get W-2 forms from their employers.
2. 1099 Forms : Businesses or individuals who made payments to non-employees (e.g., freelancers or contractors) must issue relevant 1099 forms, such as:
- ● 1099-NEC for non-employee compensation.
- ● 1099-MISC for miscellaneous income.
- ● 1099-K for third-party network and credit card transactions.
Importance : These forms are essential for taxpayers to accurately report their income. Failure to issue them on time can lead to penalties for employers or payors.
You must submit a new form to extend your exemption from federal income tax withholding for 2025 if you claimed one on your Form W-4 for 2024.
Key Points :
- ● Employees who qualify for exemption must submit an updated Form W-4 to their employer by this date.
- ● Missing this deadline may result in employers withholding taxes from your paycheck as if you were a single filer with no exemptions.
For the majority of people and businesses, this is the most significant tax deadline of the year. Important dates for us tax filing deadlines returns things to finish by this date are:
- 1. File Your Federal Tax Return : To file your federal tax return, send the IRS your 2024 Form 1040.
- 2. Pay Any Taxes Owed : Make sure that all taxes due for 2024 are paid in full to prevent fines and interest.
- 3. Request a Filing Extension : Fill out Form 4868 to request a six-month extension if you need additional time to prepare your return. Please take note that this extension does not extend payment; it merely extends our US tax filing deadlines.
- 4. Make Contributions : By this date, 2024 contributions to Health Savings Accounts (HSAs) and Individual Retirement Accounts (IRAs) must also be completed.
- 5. First Estimated Tax Payment for 2025 : For the upcoming tax year, send in your first projected quarterly payment.
Estimated Tax Payment for the Second Quarter, This is the due date for the second installment of 2025 estimated taxes for taxpayers who must make estimated payments.
Extended 2024 Tax Filing Deadline for S-Corp and Partnership if Extension filed before original due date.
Key Tip : Keep records of all estimated tax payments made throughout the year to ensure accuracy when filing your annual return.
This is the last day to file your 2024 tax return if you submitted Form 4868 in April to request a filing extension. For those wondering, when is the last day to file taxes for 2025, it’s October 15, 2025, for individuals who were granted an extension. However, remember that any taxes owed should have been paid by the original April deadline to avoid penalties and interest.
Important Notes :
- ● To avoid fines and interest, taxes should have been paid before April 15, 2025.
- ● Failing to file by this date may result in more fines, even with an extension.
The final day of the year brings several important US Tax deadlines for expats individuals and businesses:
- 1. RMDs : Individuals aged 73 or older must take their annual Required Minimum Distribution.
- 2. Charitable Contributions : Make any charitable donations to claim deductions for the 2025 tax year.
- 3. 529 Plan Contributions : Contribute to education savings accounts to take advantage of tax benefits.
Planning Tip : Keep track of all transactions completed by this date to maximize potential deductions and credits on your 2025 return.
This is the last deadline for submitting quarterly estimated tax payments for the 2025 tax year.
Important Reminder : Any remaining taxes owed must be paid when filing your 2025 tax return by April 2026.
- 1. Use a Tax Calendar : The IRS provides online tools and downloadable calendars to help you keep track of deadlines.
- 2. Set Reminders : Use digital tools like apps or calendar alerts to ensure you don’t miss important US tax deadlines.
- 3. Organize Your Documents : Gather W-2s, 1099s, receipts, and other financial records early to streamline the filing process.
- 4. Work with a Tax Professional : A certified tax preparer or accountant can help you stay compliant and maximize deductions.
By staying aware of these deadlines and planning accordingly, you can avoid unnecessary stress, penalties, and interest charges. Whether you’re an individual taxpayer or a business owner, preparation is key to navigating the tax season smoothly.
Navigating the complex web of tax deadlines can be challenging, but it is crucial for financial compliance and planning. By understanding the key dates and requirements, you can avoid penalties and stay on top of your tax obligations. Remember, meeting these deadlines is essential not only for legal compliance but also for optimizing your financial outcomes.
At Milta, we specialize in handling all aspects of tax preparation and compliance, ensuring that our clients meet every deadline with confidence. Whether you’re an individual, self-employed professional, or business owner, our expert team is here to guide you through the tax season and beyond. With Milta by your side, you can focus on what matters most in your life and business while we handle the complexities of your tax needs.