Important Tax Deadlines for the Rest of 2024
While the main tax filing deadline for 2023 taxes has passed, there are still several important tax dates to be aware of for the remainder of 2024. Here's a breakdown of key deadlines to keep you on track:
June 17th: This is the due date for your second quarter estimated tax payment. This covers taxes owed on income earned from April 1st to May 31st, 2024. The usual deadline is June 15th, but it falls on a weekend this year.
September 16th: Don't forget your third quarter estimated tax payment! This covers income earned from June 1st to August 31st, 2024. Similar to the second quarter payment, the usual deadline of September 15th falls on a weekend this year.
October 15th: If you filed for an extension on your 2023 tax return, this is the deadline to get it filed. Remember, any taxes owed were still due on April 15th, 2024. You may face penalties if you didn't pay enough by that date.
December 31st: This applies to individuals aged 73 or older with traditional IRAs or 401(k)s. By this date, you must take required minimum distributions (RMDs) from your retirement accounts. The amount is based on your age and account balance. This deadline applies to RMDs for 2024. People who turn 73 in 2024 have some flexibility. They can delay their first RMD until April 1st, 2025, but subsequent RMDs must be taken by December 31st of each year.
December 31st: This is also the deadline for 529 plan contributions in most states if you want them to count towards your 2024 taxes. However, there are a few exceptions: Georgia, Mississippi, Oklahoma, South Carolina, and Wisconsin have a deadline of April 15th, 2025, and Iowa has a deadline of April 30th.
Remember, these are just some of the major tax deadlines for the rest of 2024. For personalized advice and to ensure you’re meeting your tax obligations, contact us for a free consultation!