IRS tax forms, The shutdown
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You might know about the federal tax return extension deadline, but did you know about these other tax deadlines for Oct. 15?
Missing IRS deadlines can carry financial consequences. Failure to file and pay a tax return on time can result in a penalty of 5 percent of taxes owed for each month or partial month the return is late.
Most Americans paid their 2024 taxes by the deadline this past April, but the IRS estimated 19 million would ask for an extension, giving them until October 15th to pay.
Plus: Proposed regulations for “no tax on tips,” new tax forms, Roth catch-up contributions, charitable donation deductions, state and local tax deductions, tax filing deadlines, tax trivia and more.
During the last government shutdown, IRS operations paused, but automated notices to taxpayers continued. That situation could repeat if the current shutdown drags on. Taxpayers are advised to file as soon as possible to avoid potential delays in refunds or correspondence if IRS operations are impacted in the coming weeks.
More than 2.1 million Oregonians have filed their tax year 2024 state personal income tax returns this year. But with just six days before the tax filing extension deadline October 15, as many as 100,