The tax year in the United States spans from January 1st to December 31st annually. Individuals under the jurisdiction of the US tax systems should take note of specific deadlines and important dates related to tax filing during each tax period. Regardless of their location globally. Here are some notable deadlines for the 2023 US tax year.
January 16, 2024
Deadline for Individuals to pay Quarter 4 of 2023 Estimated Income Tax payment
On January 16, 2024, individuals are required to meet the deadline for remitting their Quarter 4, 2023 Estimated Income Tax payment. Income that lacks US tax withholding or is unable to be offset through deductions or foreign tax credits may necessitate estimation and payment by January 16, 2024, utilizing Form 1040-ES.
March 5, 2024
Deadline for making a trust distribution under the 65-day election rules
The cutoff date for executing a trust distribution under the 65-day election rules is determined by the 65-day rule. This rule stipulates that any distribution carried out by an estate or trust within the initial 65 days of the tax year can be treated as if it were disbursed on the final day of the preceding tax year, given that the election is made in a timely manner.
March 15, 2024
Deadline for S corporations (Form 1120-S) and Partnerships (Form 1065) to file their 2023 tax returns
These filings are always due on the 15th day of the 3rd month after the close of a corporation’s or partnership’s tax year. If you need to request a six-month extension, the relevant extension forms for your situation would need to be filed.
Deadline for Owners of Foreign Trusts to file Form 3520-A
You can request a six-month extension to submit Form 3520-A by filing Extension Form 7004.
April 15, 2024
Deadline for filing 2023 Individual Federal Income Tax Returns Form 1040/1040NR
Individuals residing outside of the US on April 15, 2024, receive an automatic extension until June 16, 2024. They can use it for filing their Individual Federal Income Tax Returns.
Residents within the US seeking an extension can file Form 4868, and if accepted, they are granted an additional six months to submit their Individual Federal Income Tax Return.
For individuals with outstanding tax obligations for the year 2023, the final payment date is April 15, 2024. After this date, any unpaid amounts will begin accruing interest.
Deadline for filing 2023 US Gift tax return
This is the deadline for filing Form 709 US Gift tax return. An extension can be requested for an additional six months by filing Form 4868 (or Form 8892 if there is no Federal tax return filing requirement)
Deadline for Individuals to pay Quarter 1 of their 2024 Estimated Income Tax payment
By the specified date, individuals with income not subject to US Federal tax or unable to be offset using deductions or foreign tax credits are required to make their Estimated Tax payments. This can be done through the submission of Form 1040-ES.
Deadline for filing 2023 FBAR form
There is an automatic extension to October 15, 2024, to file the FBAR form. After this date, you will not receive further extension to file an FBAR form.
Deadline for filing 2023 Corporation Income Tax return
To request a six-month extension on filing your 2023 Corporation Income Tax return, you must file Extension Form 7004.
Deadline to file 2023 US Trust form 1041
If you cannot submit a 2023 US Trust Form 1041 by April 15, 2024, you can request a five-and-a-half-month extension by filing Extension Form 7004.
Deadline for filing most 2023 Individual States’ Income Tax forms.
While April 15, 2024, serves as the deadline for most states, it’s important to note that some states may have later deadlines. If an extension is required for submitting your State Income Tax form, kindly refer to the specific extension forms provided by the relevant state. Additionally, some states may accept the Federal Extension form if no State Tax is owed with the State Tax return. Please check the requirements of the particular state in question.
June 17, 2024
Deadline for filing 2023 Individual Federal Income Tax return for individuals residing outside the US as of April 15 and non-resident aliens who do not have a W-2 issued and do not have an office or place of business in the US
A four-month extension can be made by filing Form 4868.
Deadline for Individuals to pay Quarter 2 of their 2024 Estimated Income Tax payment
By this date, individuals who have income that does not have US Federal tax, or cannot be offset using deductions or foreign tax credits, need to pay their Estimated Taxes, via Form 1040-ES.
September 16, 2024
Final extended deadline for S corporations (Form 1120-S) and Partnerships (Form 1065) to file 2023 tax returns
If an extension to file Form 1120-S and 1065 was previously requested, this is the final date to make this filing.
Final extended deadline for Owners of Foreign Trusts to file Form 3520-A
If an individual is associated with a foreign trust with at least one US owner, September 15, 2024, is the final date to submit Form 3520-A.
Deadline for Individuals to pay Quarter 3 of their 2024 Estimated Income Tax payment
By this date, individuals who have income that does not have US Federal tax or cannot be offset using deductions or foreign tax credits, need to pay their Estimated Taxes, via Form 1040-ES.
September 30, 2024
Final extended deadline for US Trusts to file Form 1041
For US trusts that were granted an extension to submit the Federal Income Tax return, September 30, 2024, is the final extended date to file Form 1041.
October 15, 2024
Final extended deadline for people living in the US filing 2024 Individual Federal Income tax return
For US residents who were granted an extension to submit their Individual Federal Income Tax return, October 15, 2024, is the final extended date to make this filing.
Final extended deadline for filing the 2023 FBAR form
This is the final date to submit the 2023 FBAR form. After this date, no further extensions can be made.
Final extended deadline for filing 2023 Foreign Trust form 3520
This is the final date to submit foreign trust Form 3520. After this date, no further extensions can be made.
Final extended deadline for filing 2023 US Gift tax Form 709
This is the final date to submit foreign gift tax Form 709. After this date, no further extensions can be made.
Final extended deadline for filing 2023 Corporation Income Tax return
If a six-month extension to file your 2023 Corporation Income Tax return was granted. The final day to submit is October 15, 2024.
Final date to request a further two-month of extension for people living outside of the US submitting a Federal Income Tax return
For those individuals living outside of the US, a two-month extension to file your Federal Income Tax return can be requested. Which will extend until December 15, 2024. This must be done in writing to the IRS and approval is not automatic.
December 16, 2024
Final extended deadline for people living outside of the US and non-residents filing a 2023 Individual Federal Income Tax return
If a further extension is granted by the IRS, this is the final deadline to submit the 2023 Federal Income Tax return.
December 30, 2024
This is the last day to make any tax planning moves or changes for the year.
December 31, 2024
This is the deadline for individuals to make UK (foreign) tax payments for FTC purposes.
Disclaimer: This is not legal advice, consult an attorney for legal advice or contact us.
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