"Key Tax Deadlines & Penalties You Must Know!"

The article outlines essential tax filing deadlines, including January 31 for W-2 and 1099 forms, April 15 for individual tax returns, and October 15 for extensions, emphasizing penalties of up to 25% for late submissions.

Below are the key tax filing deadlines and penalties for late filing:

Deadline Description Penalty for Late Filing
January 31 Deadline for employers to send W-2 forms to employees and file Forms 1099-MISC for non-employee compensation. Fines may vary based on the number of forms and days late.
April 15 Tax Day: Deadline to file individual tax returns (Form 1040) or request an extension. 5% of unpaid taxes per month, up to 25% maximum.
June 15 Deadline for U.S. citizens living abroad to file their tax returns or request an extension. 5% of unpaid taxes per month, up to 25% maximum.
October 15 Final deadline for individuals who requested a tax filing extension. 5% of unpaid taxes per month, up to 25% maximum.
January 31 of Next Year Deadline for businesses to file Form 1099-NEC for non-employee compensation. Fines may vary based on the number of forms and days late.


Topics

Related Links