Don't Forget These Tax Deadlines in June
Although the due date for most tax returns and settling any remaining balances for the current year has passed, not everyone gets to sit back and relax until the following April. June serves as a significant month for both those paying their 2024 estimated taxes and individuals with extended deadlines for filing their 2023 returns.
Taxpayers Subject to Estimated Payments
If you're self-employed, an independent contractor, or generate income that is not taxed throughout the year, you might be obligated to make direct payments to the IRS on a quarterly basis. The second installment, covering income earned from April 1 to May 31, is due on June 17. I've discussed the ins and outs of estimated taxes and how to compute and pay them before. If you made enough funds in the second quarter of 2024 to warrant taxes, making a payment can help you avoid penalties and prevent a shocking bill when the following April arrives.
Citizens Residing Abroad
US citizens who work and live in different countries are still expected to file their taxes with the IRS, regardless of where the income is generated. These individuals typically receive a two-month extension annually. Their extended returns are due on June 17 (unless you file for an additional extension to October 16 using Form 4868). navigating the complexities of taxation for citizens living outside the U.S., particularly because of different credits and exclusions on foreign income, you might want to consult a tax expert well-versed in both the U.S. tax system and the rules of the country you currently reside in.
People in Designated Disaster Areas
If you live or manage a business in locales affected by natural disasters, you're eligible for filing extensions. However, the designated areas and deadlines vary. If you reside or operate in the counties mentioned below, your 2023 income tax returns and payments, originally due in March or April, are now due on June 17:
- California: San Diego
- Connecticut: New London County and the Tribal Nations of Mohegan and Mashantucket Pequot
- Michigan: Eaton, Ingham, Ionia, Kent, Livingston, Macomb, Monroe, Oakland, Wayne
- Maine: Androscoggin, Franklin, Kennebec, Oxford, Penobscot, Piscataquis, Somerset
- Tennessee: Cheatham, Davidson, Dickson, Gibson, Montgomery, Robertson, Stewart, Sumner, Weakley
- Washington: Spokane, Whitman
- West Virginia: Calhoun, Clay, Harrison, Roane (keep in mind that the deadline for residents and businesses in Boone and Kanawha counties has been extended again until November 1)
Read also:
Here are two sentences that contain the words 'june tax deadline' and 'money' from the given text:
The second installment, covering income earned from April 1 to May 31, is due on June 17 for those required to make direct payments to the IRS. Individuals with extended deadlines for filing their 2023 returns also have until June 17 to submit their tax returns if they are US citizens living abroad.
Another set of sentences containing 'june tax deadline' and 'money' could be:
If you fail to make the June 17 estimated tax payment, you may incur penalties for underpaying your taxes. Due to the June 17 tax deadline, individuals in designated disaster areas may need to adjust their financial planning to account for the extended income tax return and payment due date.
