Taxpayers who received an extension for filing their 2023 tax returns must meet the October 15, 2024, deadline set by the Internal Revenue Service (IRS).
This date is crucial for those who requested a tax filing extension or qualified for an automatic extension.
While the initial deadline to file taxes was April 15, 2024, the extension provides extra time to file but does not delay tax payments. Here’s what you need to know to stay on track and avoid penalties.
Key Points About the IRS October 15 Deadline
The October 15 deadline applies to anyone who requested a filing extension for their 2023 tax return.
Taxpayers are encouraged to file before the deadline to avoid last-minute stress and potential errors in their filings. Filing now ensures you’re free from any potential penalties for late submission.
IRS Automatic Filing Extension for Disaster Relief
Some states and U.S. territories affected by natural disasters (storms, hurricanes, wildfires, etc.) may have qualified for an automatic filing extension.
If your area was impacted, visit the IRS’s disaster relief page at IRS Tax Relief for Disaster Situations to determine whether your area qualifies for extended deadlines or tax relief.
Paying Taxes After April 15
Even though taxpayers with extensions have until October 15, 2024, to file their tax returns, tax payments were still due by April 15, 2024.
If you haven’t made those payments yet, it’s essential to settle them as soon as possible to avoid accruing interest and penalties. Paying late can result in additional charges that will increase the overall debt owed to the IRS.
IRS Deadlines Postponed to February 3, 2025, for Connecticut and New York
As of September 10, 2024, the IRS extended the deadline for certain taxpayers in Connecticut and New York affected by severe storms and flooding.
Individuals and businesses in affected regions, including Suffolk County, New York and Fairfield, Litchfield, and New Haven counties in Connecticut, now have until February 3, 2025, to file their federal returns and make tax payments.
For more information, check the IRS’s updated guidance on tax relief for these regions at IRS Storm Relief for Connecticut and New York.
Steps to Take Before the October 15 Deadline
- File Electronically: Filing your tax return electronically is faster and reduces the risk of errors. The IRS’s e-file system is available for use, and you can also work with a certified tax professional.
- Ensure Payment of Taxes: If you haven’t paid your 2023 taxes yet, settle the balance now to avoid penalties and interest.
- Check for Disaster Relief: If you live in an area affected by a natural disaster, confirm whether you qualify for an automatic filing extension beyond October 15 by visiting the IRS website.
- Gather Necessary Documents: Make sure you have all your required documents, including W-2s, 1099s, and any deduction records, to ensure an accurate filing.
- Plan for Future Deadlines: Stay updated on any additional IRS deadlines that may apply, especially if you live in an area with delayed deadlines due to a disaster.
With October 15, 2024, quickly approaching, taxpayers should prioritize filing their 2023 tax returns if they’ve received an extension.
Be mindful of any natural disaster extensions and ensure your taxes are paid in full to avoid costly penalties.
If you’re in Connecticut or New York and impacted by severe storms, you may have until February 3, 2025, to file and make payments. Keep yourself informed and file early to avoid the last-minute rush.
FAQs
What is the deadline for filing 2023 tax returns?
The deadline for those who received an extension is October 15, 2024.
Can I file after October 15 if my area was affected by a disaster?
Yes, in some cases, taxpayers in disaster-affected areas have extended deadlines. Check the IRS website for your area.
What happens if I don’t file by October 15?
You may face penalties for late filing, and any unpaid taxes will accrue interest and penalties.
Do I still need to pay taxes if I filed for an extension?
Yes, tax payments were due by April 15, 2024. The extension only applies to filing, not payment.
When is the new deadline for New York and Connecticut storm victims?
The new deadline is February 3, 2025, for those affected by severe weather in specific counties.
