7 Last-Minute Reminders for Tax Day 2024

All your clients might not be ready for it, but Tax Day 2024 is here. Taxpayers who can't meet the deadline can apply for a six-month extension for filing, but they still must pay an estimate of any taxes they owe by April 15. In 2024, a timely filed extension moves the tax filing deadline from April 15 to Oct. 15. Given that Tax Day is here, clients have likely gathered all their necessary information and submitted their forms, along with any unpaid taxes due to the Internal Revenue Service. They have also likely already made any retroactive individual retirement account contributions or taken other strategic actions, such as harvesting losses, gifting or making charitable contributions to manage their overall tax liability. However, even with the deadline upon us, the IRS and tax experts have released some important reminders for taxpayers to keep in mind as their returns are processed or they grapple with a delayed return. See the gallery for seven useful Tax Day insights from IRS notices and the ALM Tax Facts library.