Tax Season Deadlines You’ll Want to Be Aware Of

Tax season is in full swing-  and if you haven’t already started preparing for it, you’ll want to get started right away. Below are just a few of the dates and deadlines you’ll want to keep in mind.

Most people need to file their taxes by April 18

According to a press statement by the IRS, the filing deadline to submit 2021 tax returns, pay tax owed, or file an extension to file, is April 18 for most taxpayers. “The due date is April 18, instead of April 15, because of the Emancipation Day holiday in the District of Columbia for everyone except taxpayers who live in Maine or Massachusetts. Taxpayers in Maine or Massachusetts have until April 19, 2022, to file their returns due to the Patriots’ Day holiday in those states. Taxpayers requesting an extension will have until Monday, October 17, 2022, to file.” However, you may want to get your information to your CPA in time to finish your return by the 15th since not everyone will be open over the weekend due to the Easter Holiday.

On the other hand, US citizens (and resident aliens) residing overseas or who are in the military and serving duty outside of the United States, are automatically granted a 2-month extension. This is not something you’d need to file an extension for. According to the IRS, “For a calendar year return, the automatic 2-month extension is to June 15. For calendar year 2021 you must pay any tax due by April 18, 2022, or interest will be charged.”

If you file for an extension, you’ll need to complete your return by October 17

US residents who file for an extension must file their 2021 tax return by October 17, 2022. Additionally, individuals living overseas who need extra time to file their taxes must also file by October 17.  Taxpayers who miss this filing deadline will not only need to pay additional interest on taxes owed, they may also face a late filing penalty.

Have questions? Call Hughes, Snell & Co., PA to speak with an expert

If you have questions about filing deadlines, how to calculate taxes owed, or if you need help filing for an extension, we can help. The seasoned experts at Hughes, Snell & Co., PA, have decades of experience in helping people like you navigate the ins and outs of tax season. Regardless as to whether you need help with an individual return, business return, or you’d like additional information about the benefits of tax planning, we can help. What are you waiting for? Call our office today to get started.