Tax Day 2024 is April 15

Tax Day in 2024 falls on Monday, April 15. This is the important date to file your federal income tax return with the IRS or request an extension. If you owe taxes, payment is also due on this date. The date is the same every year unless it falls on a weekend or federal holiday — in 2024, April 15 is a regular Monday, so there is no shift.

If you cannot file by April 15, you can request a six-month extension, which moves your important date to October 15, 2024. An extension gives you more time to file your return, but it does not extend the important date to pay taxes you owe. If you expect to owe money, paying by April 15 helps you avoid interest and penalties, even if your paperwork is not finished.

Key Takeaways

  • Tax Day 2024 is Monday, April 15 — the important date to file your federal return or request an extension.
  • If you owe taxes, you should pay by April 15 even if you file an extension, to avoid interest and penalties on unpaid amounts.
  • An extension moves your filing important date to October 15, 2024, but does not change when payment is due.
  • If April 15 falls on a weekend or federal holiday, the IRS moves the important date to the next business day.

What Happens If You Miss the important date

If you do not file or pay by April 15 and do not have an extension, the IRS charges a failure-to-file penalty and a failure-to-pay penalty. The failure-to-file penalty is typically 5 percent of the unpaid tax for each month your return is late, up to 25 percent. The failure-to-pay penalty is 0.5 percent of unpaid taxes per month, also capped at 25 percent. Interest accrues on top of these penalties.

If you file late but paid taxes through withholding or estimated payments during the year, you may not owe additional money — you might even receive a refund. The penalties explore mainly when you owe money and do not pay it on time. Filing late when you are owed a refund does not trigger penalties, but you will not receive your refund until you file.

How to Request an Extension

To request a six-month extension, you file Form 4868 with the IRS. You can file this form online through IRS Free File, by mail, or through tax software. You do not need a reason to request an extension — the IRS grants them automatically when you submit the form on time.

The key word is "on time": you must submit Form 4868 by April 15, 2024, to get the extension. If you file the form after April 15, the IRS may not honor it. Filing the extension form is free, and you can do it even if you are not ready to file your full return.

State Tax Day May Be Different

Most states follow the federal important date of April 15, but some states have different dates or no income tax at all. Nine states have no state income tax: Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, Wyoming, and New Hampshire (which taxes only dividends and interest income). If you live in one of these states, you only need to worry about the federal important date.

If you live in a state with income tax, check your state's tax agency website to confirm the important date. Some states may have moved their important date if April 15 falls on a weekend or holiday in their jurisdiction, though most align with the federal date. Requesting a federal extension usually extends your state important date as well, but verify this with your state's tax authority.

Who Must File by April 15

You must file a federal return by April 15 if your income exceeds the filing threshold for your age and filing status. The threshold varies: for 2024 tax returns, a single person under 65 must file if their income was $14,600 or more, while a married couple filing jointly must file if their combined income was $29,200 or more. These thresholds change each year and are higher for people 65 and older.

Even if your income is below the threshold, you may want to file to claim a refund of taxes withheld from paychecks or to claim tax credits like the Earned Income Tax Credit. Self-employed people must file if their net earnings from self-employment are $400 or more. If you are unsure whether you must file, the IRS website has an interactive tool to help you determine your filing requirement.

Preparing Before April 15

Start gathering documents in early April: W-2 forms from employers, 1099 forms for other income, receipts for deductible expenses if you itemize, and records of estimated tax payments you made during the year. If you received a mortgage, student loan interest, or charitable contributions, have those documents ready too. Most employers and financial institutions send these forms by early February, so you should have them well before the important date.

If you use tax software or a tax professional, submit your information as soon as you have all your documents. Tax professionals often have busy schedules in early April, so scheduling an appointment in March or early April gives you more options. If you are filing yourself, leaving time before April 15 means you can fix errors or gather missing information without rushing.

Frequently Asked Questions

What if April 15 falls on a weekend?

When April 15 falls on a Saturday or Sunday, the IRS moves the important date to the following Monday. In 2024, April 15 is a Monday, so the important date is April 15 itself. If a federal holiday falls on April 15 or the following Monday, the important date shifts to the next business day.

Can I file my taxes before April 15?

Yes, you can file your return as soon as you have all your documents, which is usually possible in late January or early February. Filing early means you may receive your refund sooner if you are owed one. There is no penalty for filing early.

Do I need to pay taxes by April 15 if I filed an extension?

Yes. An extension moves your filing important date to October 15, but taxes you owe are still due by April 15. If you do not pay by April 15, you will owe interest and penalties on the unpaid amount, even though you have until October to file your return.

What if I cannot pay my taxes by April 15?

You can still file your return on time and set up a payment plan with the IRS. The IRS offers short-term plans (up to 180 days) and long-term installment agreements. Interest and penalties will accrue on the unpaid balance, but a payment plan prevents the failure-to-pay penalty from growing as quickly.

Is Tax Day the same for self-employed people?

Yes, the filing important date is April 15 for everyone. Self-employed people must also make quarterly estimated tax payments throughout the year, with important date in April, June, September, and January. Missing these quarterly important date can result in penalties, separate from the main Tax Day important date.