Many taxpayers in the United States are up-to-date in filing their tax returns for the year 2024. Some people have already got their documents in order, many of them have already submitted their returns and paid taxes related to this season.
However, over time, taxpayers pay these tax returns without penalty as they approach the deadline for filing returns. This is an important factor. Here we say.
The Internal Revenue Service (IRS) has announced the next April 15 deadline for submitting returns with data related to the previous year. Precisely, this is the established date for payment of tax without penalty.
This day is generally used, however, there is an exception. If it falls on a weekend, the IRS allows you to file the next business day.
What happens if you file your taxes on the last day?
The IRS does not recommend waiting until the last minute to file your tax return. If you're one of those tax filers who leaves everything at the last moment, you'll have to pay your taxes that day.
One day after the deadline, on April 16, you'll start accruing penalties and interest on your tax bill. Over time, you may end up paying more.
The IRS charges you higher penalties and interest for each month you delay filing your tax return. To give you a clear idea on the matter, for every month or part month of delay you will have to pay 0.5% of unpaid taxes.
If April 15 approaches and you think you won't be able to file your return on time, the IRS recommends that you ask for an extension. This way you can avoid penalties and comply with your tax obligations by October 15.
