Individual Taxes

Due Dates + Extensions

Individual tax returns are due on April 15th, but they can be extended until October 15th.

Taxes must be paid in full by April 15th. Any balance due as of April 15th is subject to penalties and interest, even if the return has been extended.

penalties + interest

FILING LATE: The penalty for filing after April 15th (or after October 15th if the return was extended) is the worst. It is 5% of the balance due per month, not to exceed 25%.

PAYING LATE: The penalty for paying after April 15th is .5% (one half percent) of the balance due per month. This penalty doubles to 1% if you don’t pay in full within 10 days of receiving an IRS notice.

INTEREST: Interest rates vary with the economy. In the last few years they have been in the range of 3-5%.

where’s my refund?

quarterly estimated tax payments

HOW MUCH TO PAY:

To avoid penalty, you need to pay in the lesser of:

  • 90% of the current year’s total tax, OR
  • 100% of the prior year’s total tax (It’s 110% if your prior year adjusted gross income was over $150,000 for married filing jointly ($75,000 for married filing separately).

WHEN TO PAY:

1st quarter – April 15th
2nd quarter – June 15th
3rd quarter – September 15th
4th quarter – January 15th

PAYMENT COUPONS:

If you would like to print a coupon to mail in with your check

ways to pay

ways to save

Tax Rates

Federal Income Taxes for 2017

Tax RateLong Term Capital Gain RateSingleMFJ/Surviving SpouseHead of HouseholdMarried Filing Separate
10%0%0 – $9,3250 – $18,6500 – $13,3500 – $9,325
15%0%$9,326 – $37,950$18,651 – $75,900$13,351 – $50,800$9,326 – $37,950
25%15%
$37,951 – $91,900$75,901 – $153,100$50,801 – $131,200$37,951 – $76,550
28%15%$91,901 – $191,650$153,101 – $233,350$131,201 – $212,500$76,551 – $116,675
33%15%$191,651 – $416,700$233,351 – $416,700$212,501 – $416,700$116,676 – $208,350
35%15%$416,701 – $418,400$416,701 – $470,700$416,701 – $444,500$208,351 – $235,350
39.6%20%$418,401 +$470,700 +$444,501 +$235,351 +

More Information