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Only 2 Weeks Left Until Taxes Are Due How to File a Tax Extension in 2024

When can I file my taxes for 2024

However, if you think that you owe taxes, you’ll need to pay your estimated income tax due using Direct Pay, the Electronic Federal Tax Payment System or using a debit or credit card. If you don’t pay your estimated taxes with your extension and owe money, you’ll have to pay interest on that money as well as a potential penalty when you do file. June 17, 2024, is the deadline to make your second quarterly estimated tax payment if you are required to pay estimated taxes.

When can I file my taxes for 2024

If you make below a certain amount, consider checking out the IRS Free File program, which can get you free online tax preparation software from several tax-prep companies, including major brands. For the 2024 filing season, the income threshold to qualify for Free File is $79,000. The IRS expects more than 128.7 million individual tax returns to be filed by the April 15, 2024, tax deadline.

When can I start filing my taxes?

For more information, read Publication 526, Charitable Contributions. Individuals who didn’t qualify for the third Economic Impact Payment or did not receive the full amount may be eligible for the Recovery Rebate Credit based on their 2021 tax information. They’ll need to file a 2021 tax return, even if they don’t usually file, to claim the credit. This is the second in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A special page, updated and available on IRS.gov, outlines steps taxpayers can take now to make tax filing easier in 2022. For more tax information, here’s why you might want to sign up for direct deposit when you file your taxes.

The IRS can also issue a late-filing penalty of 5% of the amount due for every month or partial month your tax return is late. If your return is filed more than 60 days after the due date, the minimum late-filing penalty is either $450 or 100% of the unpaid tax (whichever is less). The tax season deadline to file a 2023 tax return was April 18, 2023, and the deadline to file an extended return was October 15, 2023. You may owe penalties for filing late, but if you are due a refund, you can still get your refund as long as you file within three years of your original due date.

Refunds

We believe everyone should be able to make financial decisions with confidence. Some refunds, especially for more complicated returns or those that need corrections, could take months to arrive. If you file a paper return, it will take longer since the returns will have to be processed by hand. Tax Day, the day federal and most state taxes are due, is fast approaching. If you made less than $2,500 last year and have kids, you may still qualify for California’s Young Child Tax Credit. This is a rebate for families who made $30,931 or less last year and have at least one child who is younger than 6.

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