Annual Federal Tax Return

• The IRS typically requires taxpayers complete and file their tax returns by April 15 of each year. Occasionally the IRS extends the date by a few days. In 2011, the IRS extended the filing date to April 18 instead of requiring everyone to file by April 15. This date does not mean the IRS must receive the taxes by the due date; the envelope or E-File date must be stamped by the required date. You should complete and file the federal tax return by April 15 each year or by the extended date if allowed by the IRS.
  
  

Quarterly Tax Returns

• Self-employed taxpayers file quarterly tax estimates with the IRS. The IRS requires all taxpayers to pay at least 90 percent of the taxes owed for the year no later than 15 days after the end of the fiscal year. The quarterly estimated tax payments are due by April 15 for January, February and March. Estimated taxes for April, May and June are due on July 15. The taxpayer must file the estimated tax for July, August and September by October 15, and October, November and December's estimated tax forms are due by January 15 of the following year. Some self-employed taxpayers work in non-fiscal year cycles for their business. The first month for their business year is a month other than January. For these businesses, the estimated taxes are due by the 15th day of the fourth, seventh, tenth and first month of the following business year.
  
  

State Tax Returns

• Some states collect income taxes as well. The states that collect income taxes typically use the same filing dates as the IRS. Most state tax returns use the figures from the federal income tax forms when calculating the income for state income taxes. Because the state forms use data from the federal forms, they realize the taxpayer must complete the federal forms prior to completing the state forms.
  
  

Extension for Filing

• The IRS and the income tax collecting states provide an automatic six-month extension for taxpayers who need more time to complete their tax returns. This does not eliminate any penalty for taxpayers who did not pay enough taxes during the year. The taxpayer must estimate the total tax burden for the year and include the amount owed with the extension. Failure to do so could result in additional fees and interest in addition to the amount of taxes owed.