Tax Day Countdown

Tax Day is the official annual deadline for individuals in the United States to file their federal and state personal income tax returns or request an extension. Taxpayers report their earned income, claim applicable tax credits and deductions, and calculate whether they owe additional taxes or are entitled to a refund from the Internal Revenue Service (IRS) and state tax departments. Taxpayers can submit their filings electronically or mail physical paper returns. Up until the deadline, eligible individuals can also make final contributions to tax-advantaged accounts, such as individual retirement accounts (IRAs) or health savings accounts (HSAs), and count them toward the previous tax year. Those who are unable to complete their tax paperwork on time can file Form 4868 to request an extension. While an extension provides additional time to submit the return, it does not delay the payment obligation, meaning any tax owed must still be paid by Tax Day to avoid interest and penalties.