IRS Warns: October 15 Tax Deadline Approaching Despite Shutdown
The Internal Revenue Service (IRS) has reminded taxpayers that the deadline for filing federal income tax returns is fast approaching. Despite the ongoing government shutdown, the agency has stated that the deadline remains October 15 for those who requested a Turbotax extension.
The IRS has warned that failure to meet this deadline will result in a late filing penalty of 5 percent of the unpaid tax for each month it is late, up to a maximum of 25 percent. This penalty applies even if the taxpayer has already paid the tax due by the original April 15 deadline.
Taxpayers who have been affected by natural disasters in certain states may be granted an extended filing deadline until November. However, most Americans are expected to file by the October 15 deadline, which is 11:59 PM in their local time zone.
Despite the shutdown, the IRS has assured taxpayers that they should continue to file, deposit, and pay federal income taxes as they normally would. Most IRS operations may be closed, but the core tax collection functions are expected to continue without interruption due to existing funding mechanisms.
It is estimated that about 20 million Americans typically request a Turbotax extension to file their tax returns each year. With the federal government's shutdown entering its 14th day, taxpayers are urged to prioritize meeting the October 15 deadline to avoid potential late filing penalties.
Read also:
- India's Agriculture Minister Reviews Sector Progress Amid Heavy Rains, Crop Areas Up
- Sleep Maxxing Trends and Tips: New Zealanders Seek Better Rest
- Over 1.7M in Baden-Württemberg at Poverty Risk, Emmendingen's Housing Crisis Urgent
- Life Expectancy Soars, But Youth Suicide and Substance Abuse Pose Concern
