When is the Tax Deadline? An estimated 44% of Americans don’t know when the tax deadline is. This survey shows why people still would not know When is the tax deadline? A recent survey by the Tax Foundation found that 22% of Americans think the tax deadline is in April and 13% think it is in May. But, the tax deadline for most Americans in 2023 is April 18, unless you were hit by the severe storms that hit California, Georgia and Alabama.
In this, the Tax Foundation says that it is important for Americans to know when the tax deadline is, so that they can file their taxes on time and help avoid penalties. When is the Tax Deadline? On this question, we want to tell you that the actual tax deadline is 18th April.
When is the Tax Deadline?
The tax deadline for most Americans in 2023 is set for April 18, unless hit by the devastating storms that hit California, Georgia and Alabama. If affected then their time limit will be different which we have mentioned below:
- If you have applied for an extension, the due date for your federal return is October 16, 2023.
- The deadline for severe storm relief is October 16, 2023.
In such a situation, you will have many questions in your mind that why has the tax deadline been moved from 15th April to 18th April? Because Tax Day used to be April 15 – the traditional tax deadline day, but the next business day after April 15 is a Saturday, April 15 is a Saturday, and April 17 is also celebrated as Emancipation Day, a local holiday in the District of Columbia. So the tax deadline for most Americans is April 18.
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The Tax Foundation also says people should file their taxes electronically as it is the fastest and most accurate way to file as the April 18 deadline is set for them.
All Tax Deadline Dates 2023 List
April 18th – US Tax Payment Deadline
June 15th – US Tax Filing Deadline for Expats
October 16th – Extended US Tax Filing Deadline
October 16th – FBAR Deadline
December 15th – Last Day to File US Taxes for the Season
Business Taxes
March 15, 2023: Due date for filing Form 1120
April 18, 2023: Due date for filing Form 1120-S
September 15, 2023: Due date for filing Form 1120-Q
December 15, 2023: Due date for filing Form 1120-Q
What is the penalty for missing the tax deadline?
The penalty for missing a tax deadline is 5% of unpaid tax per month or partial month the tax return is late, up to a maximum of 25% of unpaid tax. Along with the fine, interest will also be charged on the outstanding tax.
For example, let’s say you owe $10,000 in taxes. If you don’t file your taxes, the IRS will start charging you $500 per month, although the maximum the IRS can charge you is $2,500. It is important to know whether you expect a tax refund or not? The IRS will not charge you a late filing penalty if you haven’t filed your tax return yet. Also: Mortgage Rates at a 22-Year High: How to Buy a Home in 2023
What happens next if you still haven’t paid your taxes?
Once you owe your tax, you are responsible for paying it before the tax deadline, although there are some instances where you may miss the tax deadline or miss the tax deadline. If we do this here, when is the deadline to get it? Why do most Americans miss deadlines? An article has been presented about this, there is no need to panic, you should do this:
Request an Installment Agreement: This is the best way to pay off tax debt over time. To qualify, you must owe $50,000 or less in combined taxes, interest and penalties. You can submit the form to IRS online.
Apply for an Offer in Settlement: This settlement is designed to settle your tax debt for less than the full amount you owe. To qualify, you must be able to show that you are unable to pay the full amount you owe and that the IRS would not be able to collect the full amount even if it tried.
Short-Term Payment Plans: If you qualify, you will have 180 days to pay in full. There is no fee to request this payment option. Although interest and penalties may keep increasing until your taxes are paid, you have to make the right decisions and pay the taxes within the deadline.