April isn’t just the month of blooming flowers and unpredictable weather—it’s also one of the most critical months for your tax obligations. Whether you’re a tipped employee, a globe-trotting entrepreneur, or a household employer, the IRS wants to hear from you this month.
Let’s break it down and make sense of all the tax dates you need to circle on your calendar, plus what happens if you miss them (spoiler: it’s not pretty).
April 10 – Tips Report Deadline for Employees
If you work in a field where tipping is common—think hospitality, salons, or food service—and you earned more than $20 in tips during March, you’re required to report those tips to your employer using IRS Form 4070 by April 10.
Why it matters:
- Your employer will use this form to withhold Social Security (FICA) and income taxes.
- If your regular paycheck isn’t enough to cover the tax on those tips, the shortfall will show up in Box 8 of your W-2.
- You’ll need to pay the difference when you file your tax return.
👉 Tip from the Pros: Don’t wait until next year to sort this out—it’s better to chip away at it monthly than get slammed come tax time.
April 15 – Got Foreign Accounts? File FinCEN 114
If you’re a U.S. person (citizen, resident, or business entity) and you had more than $10,000 in aggregate across foreign financial accounts in 2024, you must file FinCEN Form 114—also known as the FBAR—by April 15, 2025.
Key details:
- It’s not filed with the IRS—it goes to the Treasury Department.
- You must file it electronically.
- Good news: there’s an automatic 6-month extension if you miss the April deadline.
💬 Have questions about international tax compliance? This is one of JS Morlu’s specialties—we help high-net-worth individuals and global entrepreneurs navigate the murky waters of cross-border tax.
April 15 – Individual Tax Returns Due (Form 1040 or 1040-SR)
This is the big one. If you haven’t already filed your 2024 individual tax return, April 15 is your deadline to submit Form 1040 or 1040-SR and pay any taxes due.
Need more time?
You can request a six-month extension to file—giving you until October 15, 2025—but this doesn’t give you a free pass on payment.
⏳ If you owe and don’t pay by April 15:
- You’ll be hit with a late payment penalty.
- Interest starts accumulating from the original due date.
🤓 Pro tip: Even if you’re planning on filing an extension, make an estimated payment to avoid penalties.
April 15 – Schedule H for Household Employers
Did you pay a nanny, housekeeper, or other household employee $2,700 or more in 2024? Then you need to file Schedule H along with your personal return.
You’ll also need to:
- Pay FUTA tax if you paid $1,000 or more in any calendar quarter in 2023 or 2024.
- Report any withheld income taxes from your employee’s wages.
💡 Not sure if your worker counts as an employee? JS Morlu can help you figure that out—and avoid costly misclassification errors.
April 15 – First Estimated Tax Payment for 2025
Self-employed? Freelance? Earning rental, dividend, or gig income without withholding? It’s time to pay your Q1 estimated taxes for 2025.
Understanding Safe Harbor Rules:
To avoid penalties, you must pay either:
- 90% of your 2025 tax bill, OR
- 100% of your 2024 tax (or 110% if your AGI was over $150,000)
Example: If your 2025 tax will be $10,000, 90% of that is $9,000. If you only paid $5,600, you may owe penalties—unless you paid at least $5,500 and your 2024 tax was $5,000. That second safe harbor saves the day.
🏖 Heads up: State rules differ, so check with our office for Virginia-specific guidance.
April 15 – Last Day to Open a Keogh Plan (For 2024 Contributions)
Self-employed professionals still have time to establish a Keogh retirement plan for 2024—but only until April 15. You’ll still have until the extended return filing deadline (October 15, 2025) to make contributions if you get a valid extension.
April 15 – Last Call for 2024 IRA Contributions
If you’re looking to stash a bit more into your Traditional or Roth IRA for 2024, April 15 is the final day. This deadline doesn’t budge—even if you file for an extension.
What If April 15 Falls on a Weekend or Holiday?
Good news: If April 15 lands on a weekend or federal holiday, the deadline is automatically extended to the next business day.
Special Rule: Disaster Area Extensions
If you’re in a federally declared disaster area, the IRS may extend your deadlines. You can find updated information here:
Final Thoughts: Be Proactive, Not Reactive
April isn’t just tax season—it’s strategy season. The choices you make now can impact your financial outcomes for the rest of the year. From estimated payments to retirement contributions, JS Morlu can help you make every dollar count.
👉 Need personalized guidance? We specialize in proactive tax planning, foreign asset compliance, and retirement strategies. Contact us today for a consultation and let’s get ahead of the IRS together.
Let’s make tax season less about stress—and more about strategy.
www.jsmorlu.com | 📞 703-594-4944
