Paying your taxes on time is critical if you want to escape penalties for being late. These penalties can be as much as 25 percent of the total amount of taxes you owe. One means of making sure that you pay your taxes in a timely manner is calculating how many calendar days you have left until your taxes are due. Knowing your time frame will help to keep you focused on meeting your goal.
1. Check the date on which your taxes are due. Do this by going to the website for the Internal Revenue Service. Although April 15 has been the traditional due date for taxes, this date is sometimes extended by one to three days if it falls on a weekend or holiday. You also may have a later date for your taxes if you file for an extension. A tax extension gives you six extra months to pay your taxes. Business and self-employed individuals with income not subject to withholding taxes pay estimated quarterly tax. A quarterly tax is due at three-month intervals, usually January 15, April 15, July 15 and October 15.
2. Write down the current date. Subtract the present date from the remaining days in the month. For example, if it is February 7, you'll subtract 7 from 28 if it isn't a leap year. For leap years, the number of days in February equals 29. Assume this example occurs in a non-leap-year and subtract 7 from 28 to get 21.
3. Add the days of any full months between the current month and the month in which your taxes are due. For this example, assume that your taxes are due on April 15. Since March lies between February and April, add 31 for the number of days in March. Therefore, your running total is 52 since 31 plus 21 equals this sum.
4. Add the number of days available within the month in which your taxes are due. In this example, you would add 15 since the taxes are due on April 15. Add 15 to 52 to get a total of 67 calendar days until your taxes are due.
Items you will need
- Creatas/Creatas/Getty Images