Key Tax Numbers & IRS Due Dates for 2024

Your tax deadline is April 15, 2024. Uncle Sam has a deadline, too. When do will you get your federal tax refund?

Important IRS Due Dates and Deadlines for the 2024 Tax Filing Season

Tax season marks dates when the Internal Revenue Service begins accepting and processing federal income tax returns. Most U.S. taxpayers know that April 15 is usually when annual tax returns are due to the IRS. But did you know that the tax deadline can change? Because of a federal holiday, the tax filing deadline for taxpayers in 2022 was actually April 18 for most, as it’s the next business day after the holiday. That said, the actual tax filing deadline in 2024 is April 15.

The annual tax return deadline isn’t the only important date your tax preparer is watching in the tax filing season. The other big ones are when you can expect your tax refund check, any estimated tax payment due dates and how long sending the IRS an extension form gives you.

Get your social security number and a pen! Here are the due dates and deadlines you need to know whether you’re a calendar year income tax return filer or you’re filing federal taxes quarterly.

2024 Tax Season Dates and Deadlines

January 16, 2024	4th Quarter Payment deadline for 2023 estimated tax payments
January 24, 2024	The 2023 tax season officially starts. The IRS accepts paper returns and electronic tax returns and processing begins.
January 28, 2024	Earned Income Tax Credit Awareness Day to raise awareness of the tax credits available.
January 31, 2024	Deadline for filing 1099 forms, including 1099-NEC for nonemployee compensation, with the IRS.
February 15, 2024	Individuals may submit a new Form W-4 to your employer if you claimed exemption from income tax withholding last year and want to continue your exemption for another year.
March 15, 2024	Annual tax returns are due for multimember limited liability corporations, partnerships and S Corporations.
April 15, 2024	Due date to file 2023 federal income tax returns for individuals and C corporations | 1st Quarter Payment deadline for 2024 estimated tax payments for those making quarterly payments with the 1040-ES.
June 17, 2024	2nd Quarter Payment deadline for 2022 estimated tax payments for those making quarterly payments with the 1040-ES.
September 16, 2024	3rd Quarter Payment deadline for 2024 estimated tax payments for those making quarterly payments with the 1040-ES.
October 15, 2024	Tax return filing period due date for those who request an extension.

When Will You Get Your Tax Refund? Request Direct Deposit for a Faster Tax Refund

The Internal Revenue Service issues refunds in less than 21 calendar days usually.

The way you send your federal return and your preferred federal tax refund method can affect the processing time, which also affects the tax refund schedule. Of course, electronic filing and electronic refunds are faster. Choosing any online filing option will get your return to you faster than a paper filing and paper refund payment. In fact, the IRS is recommending all tax professionals to urge their clients to file electronically instead of filing by paper. The tax refund process is much faster and more secure when you use electronic methods.

Paper tax returns take the most time. The IRS could take six months or more to process your federal tax refund payment if you filed a paper tax return.

Requesting a paper check can lead to tax refund processing delays. That means you may wait at least 6-8 weeks for your tax refund check to arrive.

Requesting direct deposit is the best way to get a faster tax refund. Wait 5 days after the IRS approves your refund before checking with your bank.

When You Can Expect Your Income Tax Refunds: Dates for 2024

You can estimate when you’ll receive your tax refund based on when you filed and how you wanted to receive your refund. The following dates are approximate.

 

When the IRS accepted your tax filing	When the IRS will send your direct deposit	When the IRS will mail a paper check
The week of Jan. 22	Feb. 2	Feb. 9
The week of Jan. 29	Feb. 9	Feb. 16
The week of Feb. 5	Feb. 16	Feb. 23
The week of Feb. 12	Feb. 23	March 1
The week of Feb. 19	March 1	March 8
The week of Feb. 26	March 8	March 15
The week of March 4	March 15	March 22
The week of March 11	March 22	March 29
The week of March 18	March 29	April 5
The week of March 25	April 5	April 12
The week of April 1	April 12	April 19
The week of April 8	April 19	April 26
The week of April 15	April 26	May 3

The IRS makes it easy to check your tax refund status once you file your federal tax returns. Go to Where’s My Refund? on irs.gov to look up your refund status. You’ll be able to see its status within 24 hours of e-filing your federal returns for the 2023 tax year. (Give it a few days with an e-filed return from a previous tax year and six months if you’re filing by paper.)

There’s a chance the IRS may mail you a paper check even if you requested a direct deposit refund. The IRS can’t deposit more than three refunds into a single financial account. And it only deposits tax refunds electronically into accounts in your name, your spouse’s name or in a joint account. Also your financial institution may reject a direct deposit for its own reasons.

Important Dates for Individual Taxpayers – Self-employed, independent contractors, Gig Workers

Most income is taxable. Your individual income tax liability can include income from virtual currencies, or the gig economy where you’re working as an independent contractor, self-employed person, or a sole proprietor. These sources of income don’t withhold taxes from your pay, so you may have to make payments to the IRS four times a year. Quarterly tax payments generally follow this schedule:

• The first payment is due April 15.
• The second payment is due June 15.
• The third payment is due September 15.
• The fourth payment is due January 15 the next year.

3 Tips to Make Filing Your Taxes Easier

If you plan ahead, filing your federal returns can be easy and relatively stress-free.

1. Organize your tax documents. Put any tax records mailed to you in one place. Save those digital tax records into a secure space.
2. Check your account with the IRS online. You can access individual tax return information such as tax records, payments and outstanding balances. Most importantly, you can make sure your address and personal information is up to date.
3. Wait to file your tax returns until you’ve got everything. The most common tax records you’ll need are:
   • Form W-2
   • Form 1099 for dividends, unemployment, etc. or a 1099-NEC for any income from the gig economy
   • 1095-A for health insurance coverage

A little bit of planning and organization makes filing your tax return on time easier — and getting that tax refund faster.

What If You Can’t File Your Income Taxes by April 15?

First, take a breath. Then file an Extension Form 4868 to get an automatic six-month extension. When you submit that form to the federal government, you also should pay an estimate of what you owe in taxes to avoid monthly penalties and interest.

Your new tax deadline will become October 15, 2024. However, your taxes are still due on time.

Don’t waste that time! If you do owe more than what you estimated, your tax liability on unpaid taxes will build interest for every day that passes until you pay it. And, if you don’t owe any taxes but deserve a tax refund, every week you wait is that much longer you have to wait for your refund. And your entire tax refund does not come to you with interest.

RELATED: Missed the Tax Deadline? File Taxes Now to Get a Refund & Lower Penalties

Sources

“Where’s My Tax Refund?” – IRSvideos

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