1040 tax returns need to be submitted to the IRS each year
March 9, 2022
Americans must file a 1040 tax return to the Inland Revenue Service (IRS) each year to declare their worldwide income and pay the right amount of taxes. A tax year is a calendar year. It runs from 1st January right through to 31st December each year.
A 1040 tax return to be submitted to the IRS must be filed no later than the 15th of April each year. Foreigners and Americans living abroad have an automatic extension to file their 1040 tax returns to the IRS by 15th June.
It is possible to get an extension to file tax returns to the IRS using a 4868 form. Taxpayers using a 4868 form must not submit a 1040 tax return to the IRS until 15th October.
Taxes must still be paid to the IRS on the 15th April each year. Penalties and interest may be imposed by the IRS on the taxpayer if they fail to pay their taxes on time
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