If you're wondering about the tax deadlines for the 2018 tax year, you're not alone. The Internal Revenue Service (IRS) has specific dates for filing and paying your taxes, and it's crucial to understand these deadlines to avoid penalties. This comprehensive guide will walk you through the 2018 tax deadlines, including extensions.
Key Tax Deadlines for 2018
Before diving into extensions, let's first clarify the original tax deadlines for the 2018 tax year:
- April 17, 2018: This was the original deadline for filing your 2017 tax return and paying any taxes due. However, due to Emancipation Day in Washington D.C., the deadline was pushed to April 17th instead of the usual April 15th.
- June 15, 2018: If you're a U.S. citizen or resident alien living outside the U.S. or Puerto Rico, or a military member on duty outside the U.S. on April 17, 2018, your deadline was extended to June 15, 2018.
When Can You File for an Extension?
If you can't meet the original tax deadline, you can request an extension using Form 4868. Here's when you can file for an extension:
- April 17, 2018: This was the deadline to request an extension for the 2017 tax year. By filing Form 4868 by this date, you could extend your deadline to October 15, 2018.
Important: Filing an Extension Only Extends the Time to File, Not the Time to Pay
Even if you file for an extension, you're still expected to pay any taxes you owe by the original deadline (April 17, 2018). Failure to do so may result in penalties and interest charges. If you can't pay the full amount, consider paying as much as possible to minimize penalties.
Extended Tax Deadlines for 2018
If you requested and received an extension, here are the new deadlines for filing your 2018 tax return:
| Taxpayer | Extended Deadline |
|---|---|
| U.S. citizens or resident aliens | October 15, 2018 |
| U.S. citizens or resident aliens living outside the U.S. or Puerto Rico | June 15, 2019 |
Remember, these extended deadlines only apply if you've requested and received an extension. If you haven't, you may face penalties for filing late.
What Happens if You Miss the Extended Deadline?
If you miss the extended deadline, you'll likely face penalties and interest charges. The failure-to-file penalty is typically 5% of the unpaid taxes for each month (or part of a month) that the return is late, up to a maximum of 25%. Additionally, you may face a failure-to-pay penalty if you didn't pay at least 90% of your taxes by the original deadline.
It's always best to file and pay your taxes on time to avoid these penalties. However, if you can't meet the deadline, it's crucial to file for an extension and pay as much as possible to minimize penalties.
