The 2014 Tax Deadline
Like most years, the tax deadline for 2014 falls on April 15. Failure to file federal income taxes by this date results in penalties. Most people seek to avoid these financial penalties and get their taxes in on time. Still, thousands of taxpayers run into trouble and can’t meet this deadline each year. Each American adult is required to pay taxes, and taxpayers should strive to meet these deadlines.
Many late filers simply procrastinate until the very end and pay the price. Without a doubt, taxpayers should start gathering their documents as soon as possible. Companies and stock firms usually send out necessary tax forms by the middle of February. Two months is more than ample time to file one’s federal taxes. Therefore, the average taxpayer doesn’t have a good excuse for not meeting the tax deadline 2014.
For 2014, the six-month extension lasts until October 13, 2014. That date is static and won’t be changed by the government shutdown. Anyone can take advantage of this extension, but they must apply for it. Fortunately, each taxpayer is guaranteed an extension, and many states offer automatic extensions. A simple extension doesn’t free a person from accrued interest on their tax burden, though.
In the end, tax deadline 2014 is much like every other year. A taxpayer can’t wait too long to file their taxes. They could otherwise find themselves spending hundreds or thousands on penalty fees. Sadly, such penalties can push a person into financial distress quite quickly. It’s always a better idea to file taxes as early as possible on an annual basis.