When Are Taxes Due In October
When Are Taxes Due in October?
As the end of the year approaches, taxpayers often have questions about when their taxes are due. While most people associate tax deadlines with April 15th, there are other important dates to keep in mind throughout the year. In this article, we will discuss when taxes are due in October and what taxpayers need to know to stay on top of their tax obligations.Federal Income Tax DeadlinesFor most taxpayers, the deadline for filing federal income tax returns is April 15th. However, if you need additional time to file your return, you can request an extension with form 4868. This extends the deadline for filing your return by six months, moving the due date to October 15th.It's important to note that while an extension gives you more time to file your return, it does not grant an extension for paying any taxes owed. Any taxes owed must still be paid by the original deadline to avoid penalties and interest charges.State Income Tax DeadlinesState income tax deadlines vary by state, so it's important to check with your state's taxing authority to determine when your state income tax return is due. Some states, such as California, align their state income tax deadline with the federal deadline of April 15th. Other states, such as New York, have different deadlines.If you need additional time to file your state income tax return, you may be able to request an extension. However, the rules and procedures for requesting an extension can vary by state, so it's important to check with your state's taxing authority for guidance.Other Tax Deadlines in OctoberWhile the majority of tax deadlines occur in the spring, there are some important tax deadlines to keep in mind in October. These include:Quarterly estimated tax payments - If you are self-employed or receive income that is not subject to withholding, you may be required to make quarterly estimated tax payments. The deadline for the third quarter payment is September 15th, and the fourth quarter payment is due on January 15th of the following year.Corporate tax returns - For businesses that operate on a fiscal year rather than a calendar year, corporate tax returns are due on the 15th day of the fourth month following the end of the fiscal year. This means that for companies with a fiscal year ending on June 30th, the corporate tax return is due on October 15th.
Can I still file my taxes after the October 15th deadline? Yes, you can file your taxes after the October 15th deadline, but you may be subject to penalties and interest charges on any taxes owed. How do I request an extension for my state income tax return? The rules and procedures for requesting an extension for your state income tax return vary by state. Check with your state's taxing authority for guidance. What should I do if I can't pay my taxes by the deadline? If you cannot pay your taxes by the deadline, you may be able to set up a payment plan with the IRS or your state's taxing authority. Contact them as soon as possible to make arrangements to avoid penalties and interest charges. In conclusion, while most taxpayers associate tax deadlines with April 15th, there are other important dates to keep in mind throughout the year. If you need additional time to file your federal income tax return, you can request an extension that moves the due date to October 15th. State income tax deadlines vary by state, so it's important to check with your state's taxing authority for guidance. In addition, there are other tax deadlines to keep in mind in October, such as quarterly estimated tax payments and corporate tax returns. If you have questions about tax deadlines or need assistance with filing your taxes, it's important to speak with a qualified tax professional.