What Is The Tax Deadline For 2024-2025?
Published on December 12, 2024
by Clark Stott
Clark Stott has been with Expat Tax Online since 2015. Being a dual national based in the UK, Clark has unique experience helping US citizens (and Accidental Americans) become tax compliant via the Streamlined Tax Amnesty program. Clark likes to help Americans in the UK keep their tax situations as simple as possible to avoid harsh IRS treatment.
Table of Contents
For the 2024 tax year (which covers income earned in 2024), the deadline to file your federal income tax return is Tuesday, April 15, 2025. This is the final date to submit your return or request an extension.
If you need additional time, filing an extension gives you until Wednesday, October 15, 2025, to file. However, keep in mind that any taxes owed must still be paid by April 15, 2025, to avoid penalties and interest charges.
Are there any changes to the tax deadline this year?
No, the standard filing deadline remains April 15, 2025. However, some groups may have different deadlines:
- US Expats: If you live abroad, you get an automatic two-month extension to June 17, 2025 (since June 15 falls on a Sunday).
- Disaster Relief Extensions: Those impacted by federally declared disasters may qualify for additional time to file and pay. The IRS provides updates on specific areas eligible for extensions.
- State Filing Deadlines: Check with your state’s tax agency, as state deadlines don’t always match the federal deadline.
Why use the IRS Streamlined Tax Amnesty Program?
It’s for American citizens that didn’t know they had to file US tax returns each year, and have therefore fallen behind. Some more than 30 years! With the IRS Streamlined Procedure, say goodbye to overdue tax returns, late fees, and penalties.
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What happens if I miss the tax deadline?
If you miss the deadline to file your taxes, the IRS will charge penalties and interest on any taxes you owe.
Late Filing Penalty
If you don’t file your tax return on time, the IRS charges a Failure-to-File Penalty. This is 5% of the unpaid taxes for each month (or part of a month) that you’re late, up to a maximum of 25% of the amount you owe.
For example:
If you owe US$1,000 and file two months late, your penalty would be US$100 (10%).
If you wait six months or longer, the penalty could max out at US$250 (25%).
Late Payment Penalty
If you file your return but don’t pay the taxes you owe by the deadline, the IRS adds a Failure-to-Pay Penalty. This is 0.5% of the unpaid taxes for each month (or part of a month) they remain unpaid, up to a maximum of 25%.
Daily Interest Charges
The IRS also charges interest on unpaid taxes, which starts building up the day after the tax deadline. The interest rate changes every three months and is based on the federal short-term rate plus 3%. This means the longer you wait, the more interest you’ll owe.
If you don’t file your return and don’t pay your taxes, the penalties can pile up fast. In the first month, the combined penalty is 5.5% of the unpaid taxes (5% for filing late and 0.5% for paying late). These charges grow each month until you’ve filed and paid what you owe.
If you missed the deadline, don’t wait. File your return and pay as much as you can as soon as possible. Even partial payments can reduce the penalty for late payments and limit the interest.
If you have a valid reason, like a personal emergency or financial hardship, you can ask the IRS to waive penalties.
Are there any tax credits and deductions I can use?
Yes, there are options to lower your taxes using credits and deductions for the 2025 tax filing season. These programs either reduce your tax bill or increase your refund if you qualify.
Tax Credits (Money Back or Reduced Tax):
- Earned Income Tax Credit (EITC): Helps low- to moderate-income workers, especially parents with children. The exact amount depends on your income and the number of dependents.
- Child Tax Credit (CTC): You can claim up to US$2,000 per qualifying child under 17.
- American Opportunity Tax Credit (AOTC): Covers education expenses like tuition, offering up to US$2,500 per eligible student.
- Premium Tax Credit (PTC): Helps cover health insurance costs if purchased through the Health Insurance Marketplace.
Tax Deductions (Reduce Income You’re Taxed On):
- Standard Deduction: A fixed amount you can subtract from your taxable income. For 2025, the amounts are:
- US$15,000 for single filers.
- US$30,000 for married couples filing jointly.
- US$22,500 for heads of household.
- Charitable Donations: If you itemize deductions, you can subtract contributions made to qualifying charities.
- Student Loan Interest Deduction: You can deduct up to US$2,500 of student loan interest paid, if you meet the income requirements.
Special Benefits for Americans Abroad:
- Foreign Earned Income Exclusion (FEIE): For 2025, you can exclude up to US$130,000 of foreign-earned income if you live and work abroad.
- Foreign Tax Credit (FTC): Reduces your US taxes by the amount you paid to a foreign government, preventing double taxation.
These credits and deductions can significantly lower your tax bill, but they each have specific qualifications. Be sure to review the rules or consult with a tax expert to claim everything you’re eligible for!
How can I request an extension for my tax return?
If you need more time to file your taxes, you can ask for a six-month extension by submitting Form 4868, which is an application for more time to file.
You can do this online using IRS Free File or tax software.
It’s important to know that an extension gives you more time to send in your return, but not more time to pay your taxes.
Any taxes you owe still have to be paid by April 15, 2025. If you don’t pay by this date, you’ll face penalties and interest.
What if I live abroad—do I get more time to file?
If you live outside the US, you automatically get an extra two months to file your taxes, so your deadline becomes June 17, 2025. But remember, if you owe taxes, you still need to pay by April 15, 2025, to avoid penalties and interest.
If two months isn’t enough time, you can ask for a further extension by filing Form 4868, which pushes your filing deadline to October 15, 2025. For expats who qualify for the Foreign Earned Income Exclusion, you might also file Form 2350 to request even more time.
Can I file electronically up to the deadline?
Yes, you can file your tax return electronically up until the deadline.
The IRS e-file system is open until April 15, 2025, for the 2024 tax year.
Filing electronically is one of the fastest and most secure ways to submit your taxes. It also ensures quicker processing, especially if you’re expecting a refund.
If you’re requesting an extension, this can also be done electronically using Form 4868.
If you’re expecting a tax refund, filing electronically significantly speeds up the process. The IRS typically issues refunds within 21 days for e-filed returns, especially if you choose direct deposit for your refund. Paper-filed returns, on the other hand, can take 6-8 weeks or longer to process, delaying your refund.
E-filing systems also help you track the status of your refund through the IRS’s “Where’s My Refund?” tool. This provides updates on when your return is processed, approved, and when you can expect your refund.
IRS Free File
If your adjusted gross income (AGI) is US$73,000 or less, you can use the IRS Free File program. This service provides free tax preparation and filing through approved software providers. It’s ideal for individuals and families with simple tax situations who want to save on filing costs.
Streamlined Filing Compliance Procecdure
If you’re an American living abroad and haven’t filed your taxes in a while, you might qualify for the Streamlined Filing Compliance Procedures. This program lets you catch up on past tax returns without penalties, as long as you meet certain requirements. It’s especially helpful for expats who didn’t realize they needed to file US taxes.
Should I get a tax professional’s help?
Yes, getting help from a tax professional can make filing your taxes a lot easier, especially if your situation is complicated or you’re unsure about the rules. A good tax professional knows how to apply the tax laws, ensures your forms are filled out correctly, and helps you claim all the tax deductions and credits you qualify for.
This can help you avoid mistakes, penalties, or missing out on money you could get back.
Expats might need extra help since filing taxes is even more complicated. You might have to deal with rules like the Foreign Earned Income Exclusion (FEIE), claiming the Foreign Tax Credit (FTC) for taxes you paid in another country, or reporting foreign bank accounts using forms like the FBAR.
You can try to use tools if you’re not ready to hire a tax professional right away, like the IRS’s Tax Withholding Estimator or free online tax calculators. They can give you a rough idea of how much you might owe or get as a refund.
How do I find the right tax professional?
When you’re ready to hire someone, make sure they’re qualified. Here’s what to look for:
- CPA (Certified Public Accountant): CPAs are trained to handle detailed and complex tax situations.
- Enrolled Agent (EA): EAs are IRS-licensed tax experts who specialize in preparing tax returns.
- Tax Attorney: If your taxes involve legal issues, a tax attorney may be a good choice.
To confirm their credentials, you can check the IRS’s Directory of Federal Tax Return Preparers. Always be cautious of anyone who promises big refunds or charges fees based on your refund amount—it’s a red flag.
What do I do about estimated quarterly taxes?
If you’re self-employed, an independent contractor, or earning income that doesn’t withhold taxes (such as from foreign sources), you may need to pay estimated quarterly taxes to the IRS. These are payments made four times a year to cover your federal income tax, Social Security, and Medicare obligations.
A tax professional can help you calculate how much you owe each quarter, ensuring you avoid penalties for underpayment. They can also guide you on adjusting these payments if your income changes throughout the year.
If you prefer doing your taxes yourself, the IRS website is a valuable resource. You can:
- Download all necessary forms, like Form 2555 (for FEIE) or Form 1116 (for FTC).
- Use the IRS Form 1040-es to calculate your tax liability.
- Access step-by-step instructions for filing different forms.
- Use online tools like the IRS Interactive Tax Assistant to answer basic questions.
Does the IRS offer help if I’m unable to pay my taxes on time?
Yes, the IRS provides options if you’re unable to pay your taxes by the deadline. You can set up a payment plan through the IRS, either as a short-term or long-term installment agreement, using Form 9465.
Another option is to request a temporary delay in payment if you’re experiencing financial hardship.
While these arrangements can help, keep in mind that interest and penalties may still apply until your balance is fully paid.
Are there separate deadlines for business owners or corporations?
Yes, business owners and corporations often have different tax deadlines than individuals. For example, C corporations typically need to file by April 15, 2025, for calendar-year businesses, while S corporations and partnerships must file by March 17, 2025.
If a business needs extra time, they can request an extension. For corporations, this can extend the deadline to October 15, 2025, for C corporations, or September 15, 2025, for S corporations and partnerships.
It’s important to keep these dates in mind and ensure all related forms, such as Forms 1120 or 1065, are submitted on time to avoid penalties.
How do I avoid getting scammed?:
- Check the Tax Preparer’s Credentials
– Only work with qualified tax preparers who have a Preparer Tax Identification Number (PTIN). You can confirm their credentials using the IRS’s Directory of Federal Tax Return Preparers at irs.gov. - Watch Out for Big Promises
– Be cautious if someone promises you a large tax refund or encourages you to claim deductions or credits that don’t apply to you. These offers can be red flags for scams or fraud. - Protect Your Personal Information
– Keep your private details safe, like your Social Security Number, bank account information, and tax records. Only share these details with trusted professionals or secure platforms. - Use Secure Methods for Sharing Documents
– If you’re sending files online, make sure the system is secure and uses encryption to protect your data. Avoid using public Wi-Fi for anything related to your taxes. - Know How the IRS Communicates
– The IRS will never email, text, or contact you on social media to request personal or financial information. If you get a message claiming to be from the IRS, it’s probably a scam. - Report Scams
– If something doesn’t feel right, report it to the IRS. You can use the IRS Tax Fraud Reporting Form (Form 3949-A) or email phishing attempts to phishing@irs.gov. For other scams, you can call the Treasury Inspector General for Tax Administration (TIGTA) at 1-800-366-4484.
By staying alert and following these tips, you can avoid falling victim to tax scams. Trust your instincts—if something seems off, take action to protect yourself.
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