April 15 is typically the last day to file your income taxes and pay taxes owed. But the words normal and typical don’t seem to apply to anything these days, and this year’s tax season is no exception. So the simple answer is, no, Thursday, April 15, is not this year’s federal income-tax-filing deadline.

What happens if you don’t pay taxes by April 15?

If you do not pay the full amount you owe by the tax deadline, even if you file an extension, you will be assessed a penalty of 0.5% of your balance due per month or part of a month after the deadline. The amount of your failure-to-pay penalty will not exceed 25% of your back taxes.

Why do we pay taxes on April 15?

We associate April 15 with the stress of paying taxes, but that hasn’t always been the case. See more pictures of taxes . We may associate April 15 with the stress and scrambling that comes with knowing that taxes are due, but Tax Day hasn’t always landed on that particular date. In fact, there was no such thing as Tax Day in the U.S. before 1913.

When is the deadline to pay the IRS?

The IRS urges people with a filing requirement and a balance due to file by the April 15 deadline even if they cannot pay in full. Taxpayers in this situation should pay what they can and consider a payment plan for the remaining balance.

When do I have to pay my taxes for the current year?

The April 15 payment is the first payment for the current year. Empower your team to be productive every day, from virtually anywhere, with Microsoft 365. You can also skip the January 15 payment if you file your tax return and pay all taxes due for the previous year by January 31 of the current year.

When do you have to pay income tax in 2020?

In 2020, the IRS did adjust the deadline for the first of four estimated tax payments to July 15 from April 15, the same extension as the overall tax filing deadline. However, it didn’t push back the remaining three payments — the second quarterly payment was also due on July 15, 2020.