Three IRS Tax Deadlines for June 17
As summer begins, taxes are probably the last thing you want to consider. But there are some important June tax deadlines you shouldn’t overlook.
![three arrow darts on a bullseye](https://cdn.mos.cms.futurecdn.net/s4UErx62ktwzUFcYoSLsWS-415-80.jpg)
The federal tax filing deadline for the 2024 tax season passed (it was April 15 for most), but unfortunately, Tax Day isn’t the only deadline you need to know during the year. Missing another tax deadline might cause you to lose potential tax savings or result in IRS penalties.
So, while taxes are likely among the last things you want to consider as summer begins, here is what you need to know about three tax deadlines that fall on Monday, June 17.
1. Estimated tax payments
Making estimated tax payments helps ensure you contribute to your tax liability throughout the year. The U.S. tax system operates on a "pay-as-you-go" basis. So, unlike traditional employees whose taxes are withheld from their paychecks, individuals with untaxed income streams are supposed to estimate and pay taxes quarterly to avoid a large bill at the end of the year.
![https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-200-80.png](https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-320-80.png)
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The second quarterly installment of estimated tax payments is due by June 17. Accurate payments by the quarterly due dates help avoid underpayment penalties.
- To calculate estimated tax payments, taxpayers must project their annual income, deductions, and credits.
- Form 1040-ES includes worksheets and instructions to assist with this calculation.
- The IRS imposes penalties based on the amount underpaid and the duration of the underpayment.
By keeping up with estimated tax payments, you can distribute their tax liability evenly throughout the year, reducing the risk of an unexpected tax bill when filing your annual return.
If you would like more information, see When Are Estimated Tax Payments Due in 2024?
2. Tax filing deadline for U.S. citizens living abroad
Despite residing outside the United States, U.S. citizens living and working abroad must file annual tax returns with the IRS. This requirement stems from the U.S. tax system being primarily based on citizenship rather than residency. As a result, income earned anywhere in the world must be reported, including wages, dividends, rental income, and other sources.
- Expats living outside the U.S. are granted an automatic two-month extension from the standard Tax Day deadline.
- This year, they have until June 17 to submit their federal income tax returns.
Filing taxes while living abroad can be more complex due to factors like foreign income, tax treaties, and possible double taxation. For example, taxpayers might need to file Form 114, Report of Foreign Bank and Financial Accounts (FBAR). That’s used to report certain foreign financial accounts to the Treasury Department Financial Crimes Enforcement Network (FinCEN).
Despite the complexities, Rachel Martens, managing director specializing in international tax at CBIZ MHM, stresses the importance of U.S. citizens or resident aliens living abroad filing a U.S. income tax return.
“Taxpayers living abroad may qualify for certain tax benefits such as the foreign earned income exclusion, and the foreign tax credit,” Martens explained in a statement to Kiplinger. Additionally, Martens notes that “expanded tax benefits may apply, including, but not limited to the child tax credit, credit for other dependents, or credit for child and dependent care expenses but can only be claimed if a U.S. income tax return is filed.”
- Meeting the June 17 tax deadline is crucial to avoid penalties and interest.
- However, if more time is needed, taxpayers can request an additional extension to file to October 16 by filing Form 4868, by June 17.
Understanding these requirements and deadlines can help avoid unnecessary complications with the IRS.
3. IRS extended tax deadline in states impacted by disasters
Each year, the IRS extends tax deadlines for taxpayers in designated areas impacted by severe storms and natural disasters. The agency announces these tax deadline extensions for various states as disasters occur.
The new tax deadlines may be different for different states. Also, individual states may or may not conform their state tax deadlines to the extended federal tax deadlines.
According to a recent IRS announcement, a June 17 tax deadline applies to taxpayers affected by seven disaster declarations. These include the following, but the current list of eligible localities is available on the Tax Relief in Disaster Situations page on IRS.gov.
Also, for more information on these and other extended deadlines, see Kiplinger’s report, States With IRS Tax Deadline Extensions This Year.
- One county in California: San Diego. (See California Tax Deadline Extension: What You Need to Know).
- One county and two tribal nations in Connecticut: New London County, and the Tribal Nations of Mohegan and Mashantucket Pequot.
- Nine counties in Michigan: Eaton, Ingham, Ionia, Kent, Livingston, Macomb, Monroe, Oakland and Wayne.
- Seven counties in Maine: Androscoggin, Franklin, Kennebec, Oxford, Penobscot, Piscataquis, and Somerset.
- Nine counties in Tennessee: Cheatham, Davidson, Dickson, Gibson, Montgomery, Robertson, Stewart, Sumner and Weakley.
- Two counties in Washington: Spokane and Whitman.
- Six counties in West Virginia: Boone, Calhoun, Clay, Harrison, Kanawha, and Roane.
Related
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
As the senior tax editor at Kiplinger.com, Kelley R. Taylor simplifies federal and state tax information, news, and developments to help empower readers. Kelley has over two decades of experience advising on and covering education, law, finance, and tax as a corporate attorney and business journalist.
-
Eight Key Steps to Take When Investing in the Stock Market
The stock market can be a confusing place for beginners, but it doesn't have to be.
By Kiplinger Advisor Collective Published
-
Confused by Annuities? Making Sense of the Different Types
Many investors aren't sure if annuities are a good option for meeting financial goals. Let's look at the different categories, along with their pros and cons.
By Kris Maksimovich, AIF®, CRPC®, CPFA®, CRC® Published
-
IRS Ends Inherited IRA Confusion: Annual RMDs Required for Many
IRAs The agency has resolved a major point of uncertainty for inherited IRA beneficiaries.
By Kelley R. Taylor Last updated
-
$145 Million in ‘Senior Freeze’ Checks Mailed
Property Tax What you need to know about New Jersey's property tax relief program for older adults.
By Kate Schubel Published
-
TaxAct Class Action Settlement: Details to Know
Tax Filing A multimillion-dollar settlement over alleged data privacy violations affects some TaxAct users.
By Kelley R. Taylor Last updated
-
An IRA Contribution Option You Might Not Know
IRAs Retirement savings might not have to take a back seat just because your partner doesn't earn income.
By Kelley R. Taylor Last updated
-
Project 2025 Tax Overhaul Blueprint: What You Need to Know
Tax Proposals Some people wonder what Project 2025 is and what it suggests for taxes.
By Kelley R. Taylor Last updated
-
The Taxes That Come out of Your Paycheck
Payroll Tax Your take-home pay is often less than expected due to several payroll tax withholdings you need to know.
By Kelley R. Taylor Last updated
-
Seven States Where Gas Tax Increased July 1
Gas Taxes Since July has arrived, drivers in several states are facing a gas tax hike.
By Kelley R. Taylor Last updated
-
401(k) Withdrawal Penalty Rule Changes for 2024
Tax Rules More people are taking early emergency withdrawals from retirement savings accounts. New rules might offer some relief.
By Kelley R. Taylor Last updated