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As we look forward to 2024, we can mark significant dates on our calendars: birthdays, anniversaries and, of course, the deadlines the Internal Revenue Service (IRS) sets for filing and paying federal income taxes.
Bear in mind that we are filing taxes for income earned in 2023, even though we file those forms in 2024. To keep confusion to a minimum, tax experts refer to 2023 as the tax year and 2024 as the filing year. Most, but not all, of the deadlines in 2024 refer to tax year 2023.
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When is Tax Day 2024?
For the first time in five years, the deadline for filing 2023 federal income tax returns for most taxpayers is the traditional date: April 15.
Due to the pandemic and various state holidays, taxpayers haven’t had to file on April 15 since the 2019 filing season. In 2020 and 2021, the April 15 deadline got pushed back by the COVID-19 pandemic. And in some non-pandemic years, the deadline gets pushed back to the next business day because April 15 falls on a weekend. But now we're back to the traditional Tax Day deadline — with the exception of taxpayers living in Maine or Massachusetts, who have until April 17, 2024, due to the Patriot’s Day and Emancipation Day state holidays.
2024 IRS Key Tax Dates
Jan. 16: Final estimated tax payment for 2023 due
Jan. 29: IRS begins processing 2023 tax returns
April 15: Filing deadline for 2023 taxes. First estimated tax payment for tax year 2024 due
June 17: Second estimated tax payment for 2024 due
Sept. 16: Third estimated tax payment for 2024 due
Oct. 15: Extended deadline to file 2023 tax return
Jan. 15, 2025: Fourth estimated tax payment for 2024 due
Filing late?
Don’t blow the deadline. The penalty for late filing is 5 percent of the amount due each month, and the penalty for failure to pay is 0.5 percent a month, maxing out at 25 percent a year. (When both penalties are levied in the same month, the total penalty is 5 percent a month: 4.5 percent for failure to file and 0.5 percent for failure to pay.) Interest also accrues, at a current rate of 8 percent.
If you must file late, you can get an automatic extension by filing IRS Form 4868. The automatic extension gives you until Oct. 15 to file your return.
Some taxpayers affected by recent natural disasters get extra time to file. For example, victims of December’s severe storms and tornadoes in Tennessee now have until June 17, 2024, to file federal tax returns and make tax payments.
When does tax season start?
The IRS takes a few weeks to get ready to process the millions of returns it receives during tax season.
Estimate Your Taxes
AARP’s tax calculator can help you predict what you’re likely to pay the IRS.
The IRS will begin processing 2023 returns on Jan. 29. You can file electronically via IRS-approved software starting Jan. 12, but the forms won’t be processed until Jan. 29. The IRS says most taxpayers will get their refunds within 21 days of when they file electronically, barring any issues with processing their tax returns. Electronic filing, when linked with direct deposit, is the fastest way to get a refund. Last year’s average tax refund was more than $2,753.
Paying estimated taxes
The self-employed must pay estimated taxes every quarter. The first payment for the 2024 tax year is due April 15, with other payments due June 17, Sept. 16 and Jan. 15, 2025.
More From AARP
10 Things You Need to Know Before Filing Your Tax Return
Get that 2023 refund fast and keep it safe from fraudstersWhat Are the Tax Brackets for 2023 and 2024?
Find out how much you will owe to the IRS on your incomeHow Long Do You Have to Keep Tax Records?
For many, just 3 years — for others, practically forever
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