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Navigating 2024 Tax Deadlines: A Comprehensive Guide for Employees, Employers, and Entities

As we usher in 2024, it's crucial for individuals, businesses, and entities to gear up for the upcoming tax season. Understanding and adhering to tax deadlines is key for financial well-being. In this blog, we'll provide a detailed guide on essential tax dates for employees, employers, and various entities in 2024, ensuring you stay on the right side of compliance.

1. Individual Taxpayers (Employees):

- April 15, 2024: File your individual tax returns (Form 1040) to meet the deadline.

- June 15, 2024: For those living abroad, ensure your tax returns are submitted by this date.

2. Business Entities:

- March 15, 2024: S Corporations (Form 1120-S) and partnerships (Form 1065) must file tax returns.

- April 15, 2024: C Corporations (Form 1120) should submit their tax returns.

3. Employers:

- January 31, 2024: Furnish W-2 forms to employees and file them with the Social Security Administration.

- February 28, 2024: File paper forms for 1099s and W-2s with the IRS.

- April 30, 2024: Electronically file 1099s and W-2s with the IRS.

4. Estimated Tax Payments:

- April 15, June 15, September 15, and January 15 (of the following year): Make quarterly estimated tax payments to avoid penalties.

5. Tax-Exempt Organizations:

- May 15, 2024: Submit annual returns (Form 990) if you're a tax-exempt organization.

6. Extensions:

- October 15, 2024: If you filed for an extension in April, this is your final deadline.

Ensuring you are well-prepared for the 2024 tax season involves understanding these crucial deadlines. As you mark your calendar, remember to stay informed and seek professional guidance when needed. By incorporating these key dates into your financial planning, you'll navigate the tax landscape smoothly, maximizing your savings and minimizing stress. Stay proactive, and make the most of the upcoming tax year!

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