When to File

Individual income tax returns are due on April 15 in the year subsequent to the tax year. Although taxpayers can file for an extension to file their return until as late as October 15, the taxes are due by April 15. The Internal Revenue Service can impose penalties and interest for failure to pay the taxes due by April 15 or failure to file by the due date (April 15 or the extended date.)

State Income Tax

Most states also tax individual income. Taxpayers are potentially subject to state income tax in their state of residence and in any state where a taxpayer works or owns real property. Many states determine a citizen's taxable income in a manner that is similar to that used by the federal government (and discussed above).