California provides tax relief for those affected by Los Angeles wildfires Governor of California

If a taxpayer receives Forms 1099-K, they should visit What to do with Form 1099-K https://www.bookstime.com/articles/how-to-write-construction-invoice to help them determine if that money should be reported as income on their federal tax return. Missing tax deadlines can have significant financial consequences. The IRS imposes penalties for failing to file on time and failing to pay taxes owed by the deadline.

What happens if you miss the tax filing deadline and are owed a refund?

• Learn how to build, read, and use financial statements for your business so you can make more informed decisions.
• If a taxpayer resides in a federally declared disaster area, they also may have additional time to file.
• Taxpayers can also use the IRS Directory of Federal Tax Return Preparers with Credentials and Select Qualifications to find trusted professionals.
• Good records help you determine which credits and deductions you qualify for, and serve as documentation if we need to verify information on your return.
• Most, but not all, of the deadlines in 2025 refer to tax year 2024.
• The penalty for late filing is 5 percent of the amount due each month, maxing out at 25 percent a year.

Even if you successfully apply for an extension, the payment deadlines don’t change. The penalty for late payment is 0.5% of the taxes owed each month compared to 5% for late filing. Regardless of whether you can pay your small business taxes, it always pays off to file on time.

Credits & Deductions

In addition, these taxpayers also would have until May 1 to file their 2023 returns. Generally, how to file taxes for the first time at 18 taxpayers are granted an automatic six-month extension to file. To avoid delays, make sure you only file Form 1040-X after your original Form 1040 has been accepted.

Tax due dates & deadlines for 2025

The deadlines for filing 1099 forms can vary based on the type of 1099 form and filing method. Generally, the paper filing due date for most 1099 forms is Feb. 28, while the e-filing deadline is typically March 31. Check out our Guide to Form 1099 for a complete list of e-filing and paper due dates for all 1099 forms. Partnerships (Form 1065) and S corporations (Form 1120-S) must file their business returns by March 17, 2025. The deadline is typically March 15, which falls on a Saturday in 2025.

• Taxpayers affected by a presidentially declared disaster may claim a deduction for a disaster loss.
• The IRS expects more than 140 million individual tax returns for tax year 2024 to be filed ahead of the Tuesday, April 15 federal deadline.
• But we’re looking at a traditional April 15 filing deadline in 2025 — unless you live in an area that was hit by severe storms, wildfires, tornadoes, Hurricanes Helene and Milton or other major disaster.
• Such improvements include expanded use of chatbots online and voicebots when filers call the IRS with questions.
• However, it is worth stressing that there is no evidence that there is an increased audit risk if you go on extension.
• The IRS expects more than 128.7 million individual tax returns to be filed by the April 15, 2024, tax deadline.

Getting an extension gives you more time to file, but it doesn’t give you more time to pay your taxes. Any tax you owe, or a good estimate of that amount, is still due April 15. Interest and penalties apply to tax bills owed after April 15, and they add up until your Certified Public Accountant balance is paid. To help file an accurate tax return, taxpayers can access their Individual Online Account information, including any amount owed, payments, tax records and more. The IRS lets taxpayers access most tax tools online with one account using the same login and password. New users will need their photo identification to verify their identity.

IRS Tax Deadlines You Can’t Afford to Miss

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Pietro Busetta - Antonio Corvino - Francesco Saverio Coppola

Pietro Massimo Busetta, ordinario di Statistica economica presso la facoltà di Economia dell’Università degli Studi di Palermo, è stato direttore del CIRMET e dell’Istituto di Statistica per la ricerca applicata della stessa università, già presidente della Fondazione Curella dalla sua costituzione e destinatario della targa del Presidente della Repubblica del Premio Guido Dorso, componente del laboratorio di analisi monetaria dell’Università Cattolica di Milano. E’ componente di diversi Consigli e comitati scientifici fra cui si ricordano il Comitato scientifico dell’Associazione internazionale Guido Dorso, il Consiglio dello Svimez. È autore di numerose pubblicazioni scientifiche e volumi riguardanti il Mezzogiorno. I temi delle sue ricerche hanno riguardato prevalentemente il credito, il mercato del lavoro, i nodi dello sviluppo e i processi di cambiamento necessari e in atto, con particolare riferimento alle tematiche del meridionalismo classico e contemporaneo. Con Rubbettino ha pubblicato Il coccodrillo si è affogato: Mezzogiorno, cronache di un fallimento annunciato e di una possibile rinascita, 2018; Mezzogiorno bancorotto, 2019; Il lupo e l'agnello, 2021; La rana e lo scorpione, 2023.

 

Antonio Corvino, di origini pugliesi, napoletano di adozione è un saggista ed economista di lungo corso, da sempre attento alle tematiche territoriali e sociali. Direttore Generale dell'OBI - Osservatorio di Economia e Finanza, già Direttore Sistema Confindustria, nonché appassionato di Arte, dedito alla scrittura, autore di molteplici opere letterarie.

Nato a Napoli Francesco Saverio Coppola ha maturato in ambito aziendale, in ambito universitario, in ambito istituzionale, in centri di ricerca e di promozione sociale diverse e molteplici esperienze nel campo dell’economia delle imprese pubbliche e private, della finanza privata e pubblica, dell’economia bancaria. Ha ricoperto incarichi manageriali in diverse attività pubbliche e private, ha coordinato ricerche in diversi settori dell’economia, autore di saggi e di libri. Attualmente, tra le tante altre attività associative in cui è impegnato, è Segretario Generale dell’Associazione internazionale Guido Dorso e condirettore Rivista “Politica “Meridionalista".

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