What are the deadlines for reporting investment income?
The deadlines for reporting investment income typically vary by type of income and jurisdiction. In the U.S., for example, you usually need to report interest and dividends by April 15th.
Are there different deadlines for different types of investments?
Yes, different types of investments can have different reporting deadlines. For instance, capital gains from stock sales are reported on your tax return, which is also due by April 15th.
What happens if I miss the reporting deadline?
If you miss the reporting deadline, you may face penalties and interest on any taxes owed. It's best to file as soon as possible to minimize these consequences.
Can I get an extension for reporting my investment income?
Yes, you can file for an extension, which typically gives you until October 15th to submit your tax return, but any taxes owed are still due by April 15th.
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