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By Matthew Robinson
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Millions of taxpayers have been reminded to file their 2024 tax returns by the end of Wednesday.
The Internal Revenue Service (IRS) said the October 15 deadline applies to taxpayers who were granted extensions to the original deadline.
According to the agency, the current government shutdown does not affect the tax filing deadline, and taxpayers are still required to make payments.
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Why It Matters
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.
Interest may also accrue on unpaid penalties, increasing the total amount owed.
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What To Know
Americans who were granted a tax filing extension earlier this year have until 11:59 p.m. on October 15 to file their returns. The original deadline was April 15.
The IRS estimated that more than 20 million taxpayers would file tax returns by the extended deadline this year.
The agency encouraged taxpayers to use electronic filing and payment options, which offer a faster and more efficient process. Taxpayers who plan to file paper returns can find Form 1040 on the IRS website.
The IRS said it would continue to process payments received either electronically or via mail regardless of the ongoing federal government shutdown.
For those who miss the October 15 deadline, filing is advised as soon as possible as interest and penalties for late returns and payments continue to accrue until the balance is fully paid.
Payment options include Direct Pay from your bank account; debit, credit card or digital wallet transfers; mail-in checks; cash payments through retail partners; the Electronic Federal Tax Payment System; and payments from IRS accounts.
Certain taxpayers may have further deadline extensions beyond October 15. The IRS announced previously that taxpayers "affected by the terroristic action" in Israel throughout 2024 and 2025 generally have deadlines postponed until September 30, 2026.
Meanwhile, individuals affected by federally declared disasters also receive more time to file and make certain payments. You can check the IRS's disaster relief page for further details.
What People Are Saying
The IRS said on Tuesday: "The Internal Revenue Service today reminds individuals who filed extensions for tax year 2024 that their tax returns are due tomorrow. Further, the agency reminds taxpayers that the current lapse in appropriations (the government shutdown) does not affect the tax filing and payment responsibilities of taxpayers. The IRS estimates that more than 20 million taxpayers were expected to file tax returns by the extended due date this year."
Nik Agharkar, the owner and managing member of Crowne Point Tax, previously told Newsweek: "As the saying goes: death and taxes. The IRS penalizes you daily for failure to file and/or failure to pay. While you may be able to challenge some of the penalties assessed, the interest will always run and always be due.
"Just because the government is dysfunctional doesn't mean you get to be! File on time and keep a record that you did so. Pay on time and keep a record that you did so. Taxes are always due, and filing is always mandatory."
What Happens Next
Taxpayers who received tax filing extensions have until 11:59 p.m. on Wednesday to file their returns.
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