It's always a good idea to stay on top of important deadlines, so you won't find yourself panicking at the last minute. And one of the most crucial deadlines you must never forget is the IRS tax deadlines. So, mark your calendar with some of the essential IRS tax deadlines for 2022. 

When Is Tax Day in 2022?

Traditionally, Tax Day is on April 15, with some exceptions when the date falls on a weekend. However, due to the pandemic, the deadline for filing taxes was pushed back in 2020 and 2021. For this year, Tax Day is now on April 18, which is a Monday. 

Although Tax Day can be somewhat flexible depending on when you filed your tax return, for normal taxpayers, this is the deadline to pay any taxes that you owe to the government.

The deadline to file your federal tax return by mail is April 18th. However, the IRS will still accept tax returns that are filed after this date. 

What Happens When You File Your Taxes Late?

The IRS charges penalties for late tax payments. This penalty is only charged if your tax return is filed late as well as paying your taxes. Your tax preparation and filing fees are also due at the time of filing, but they don't come with a penalty.

If you are not able to pay your taxes by Tax Day and you owe taxes, the IRS will charge you interest on the unpaid tax balance. If the IRS owes you a refund, the interest is based on the amount of the refund.

When Is the Deadline for Filing IRS Form 4868

If you want to file an extension to file your taxes, you must submit IRS Form 4868 by the original Tax Day deadline. If you file this form, you will receive an extension until October 15th to file your taxes. But since October 15 falls on a weekend this year, the deadline for the extension would be October 17 instead. It is also important to remember that an extension to file is not an extension to pay your taxes.

If you have filed for an extension and have other filing requirements like for your employer, you must submit your forms to the IRS and your employer by the original deadline. You must pay your taxes by the original deadline, even if you have requested an extension. If you don't, you will have to pay penalties and interest.

When Is the Beginning of Tax Season?

The IRS typically opens its online filing program on January 25th of every year. However, for 2022, the tax season actually started on January 24, which was a Monday. This is the official start to tax season. The IRS gives taxpayers and businesses time to prepare for filing without being taxed for any penalties.

Final Thoughts

When it comes to the IRS, it is best not to forget any of the deadlines. With so many people filing their taxes late, the IRS has become stricter with issuing penalties and interest. But the penalties are not issued until after the deadline.

File your taxes on time with the help of Tottax. We are a tax and accounting agency that offers accounting services for small business owners. We do personalized business consulting depending on your needs and goals. Schedule a free tax consultation today!