What is the last date for filing income tax in 2025?

What date is the end of financial year 2025?

Fiscal years are named using the year when the period ends. For example, the US federal government fiscal year starts on October 1, 2024 and ends on September 30, 2025, this is referred to as FY25. Read more on how you can get prepared for the end of fiscal year.

What tax breaks will expire in 2025?

At the end of 2025, the individual tax provisions in the Tax Cuts and Jobs Act (TCJA) expire all at once. Without congressional action, most taxpayers will see a notable tax increase relative to current policy in 2026.

How do I extend my tax deadline in 2025?

Request an extension by mail

File Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.

When to submit a tax return?

Submitting an online tax return

You must submit your online tax return by 11:59pm on 31 January 2026 or you'll get a late filing penalty. If you want to pay your Self Assessment bill through your tax code, you must submit it by 11:59pm on 30 December 2025.

Did firs extend filing deadline 2025?

Large taxpayers, defined as companies with annual turnover of at least ₦5 billion (approximately $3.1 million USD), now have until 1 November 2025 to comply, instead of the original 1 August 2025 deadline.

What happens if you miss the April 15th tax deadline?

Key Takeaways. The deadline for filing your federal income tax return is typically April 15 each year (or the next business day if April 15 falls on a weekend or holiday). If you miss the April 15 deadline, you might have to pay IRS penalties and interest on any unpaid taxes you owe.

What is the income tax deduction for 2025?

The standard deduction for 2025 was raised to $15,750 for single filers, up from the $15,000 previously in place. For married couples filing jointly, it is increased to $31,500, up from $30,000. And for heads of households, their standard deduction will be $23,625, up from $22,500.

Does NRI have to pay tax in India?

Non-resident Indians (NRIs) are taxed on income earned or collected in India. This could be from sources like property rent, share dividends, and investment and savings capital gains, if over a specified limit. Income earned outside India is not taxable in India.

Can I file an ITR after 31st July?

You can file a belated ITR up to three months before the end of the assessment year. For example, if you miss the July 31, 2023, deadline, you can still file your ITR using a belated ITR until December 2023. However, be aware that taxpayers face a penalty for missing the original deadline under Section 234F.

What is the tax regime for FY 2025?

The new income tax slabs and rates under the new regime for the FY 2025-26 (AY 2026-27) are as follows: Rs. 0 to Rs. 4 lakh – Nil, Rs. 4 lakh to Rs. 8 lakh – 5%, Rs. 8 lakh to Rs. 12 lakh – 10%, Rs. 12 lakh to Rs. 16 lakh – 15%, Rs. 16 lakh to Rs. 20 lakh – 20%, Rs. 20 lakh to Rs. 24 lakh – 25%, and income above Rs. 24 ...

What is an acceptable reason for late filing?

your partner or another close relative died shortly before the tax return or payment deadline. you had an unexpected stay in hospital that prevented you from dealing with your tax affairs. you had a serious or life-threatening illness. your computer or software failed while you were preparing your online return.

What happens if you do a late tax return?

In addition to a fine, the ATO can also apply General Interest Charges (GIC), on any amount still owing. Note: The rate for GIC changes quarterly. At the time of writing this article, the rate is 10.61% per annum (October – December 2025).

How much does HMRC charge for a late tax return?

If your tax return is late, you will be charged an automatic penalty of £100, even if you do not owe any tax. If the return has not been filed within three months of the deadline, a further daily penalty of £10 per day is charged. This goes up to a maximum of £900.

When can you file a 2025 tax return?

You can file 2025 taxes as soon as you receive your 2025 tax documents such as a W-2 or 1099 Form, typically in late January 2026. Should I wait to file taxes? There's no benefit to waiting to file your 2025 taxes on Tax Day, April 15, 2026. There are many benefits to filing your taxes early, however.

What is the best way to file taxes in 2025?

Decide how you want to file your taxes.

1. The IRS recommends using tax preparation software to e-file for the easiest and most accurate returns and fastest refunds.
2. If you file by mail, it can take four weeks or more for the IRS to process your return.

Is the tax audit due date extended for a year 2025-26?

The Central Board of Direct Taxes (CBDT) has decided to extend the due date of furnishing of Return of Income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2025-26, which is 31st October 2025 in the case of assessees referred in clause (a) of Explanation 2 to sub-Section (1) of Section 139 of ...

What happens in 2025 with taxes?

Here's a summary of key changes for the 2025 tax year. The seven federal tax brackets (10%, 12%, 22%, 24%, 32%, 35%, 37%) are now permanent. Standard deductions increased, plus a new “bonus” deduction for older adults. Child tax credit increased to $2,200 per qualifying child.

What date is the end of the tax year 2025?

5th April 2025

This is the last day to claim any reliefs or allowances from the current tax year.