Key Tax Deadlines for the Year
Managing your tax responsibilities is crucial for avoiding penalties and staying compliant. Here’s a detailed breakdown of important tax deadlines to help you plan effectively. Remember, if a due date falls on a weekend or legal holiday, it is moved to the next business day. For additional guidance, refer to the instructions for the applicable forms.
Fourth Quarter Estimated Tax Payments Due: Individuals and businesses who make estimated tax payments should ensure their fourth-quarter payments are submitted by this date.
W-2 and 1099 Forms to Employees and Contractors:
Employers must mail W-2 forms to employees and furnish 1099 forms to independent contractors. Missing this deadline can result in penalties.
Mail Forms 1099 and 1096 to the IRS:
Businesses must send these forms to the IRS to report payments made to non-employees during the previous year
- Partnership Tax Returns (Form 1065):
Partnerships must file Form 1065 or request an automatic five-month extension (Form 7004) by this date.
- S-Corporation Tax Returns (Form 1120-S):
S-corporations must file their tax returns or request an automatic five-month extension (Form 7004).
- First-Quarter Estimated Tax Payments Due
- Individual Tax Returns (Form 1040):
File Form 1040 or request an automatic six-month extension (Form 4868). Note that an extension only extends the filing deadline—not the deadline for payment. Taxes owed must still be paid by April 15 to avoid penalties and interest.
- Contributions to Retirement Accounts:
The last day to contribute to a traditional IRA, Roth IRA, Health Savings Account (HSA), SEP-IRA, or solo 401(k) for the prior tax year. For SEP-IRAs and solo 401(k)s, contributions can be made until October 15 if an extension is filed.
- Trust and Estate Tax Returns (Form 1041):
File Form 1041 or request an automatic five ½ month extension (Form 7004).
- C-Corporation Tax Returns (Form 1120):
File C-corporation returns or request a six-month extension (Form 7004) for calendar-year corporations.
- Second-Quarter Estimated Tax Payments Due
- Tax Deadline for U.S. Citizens Living Abroad:
U.S. citizens and resident aliens living outside the U.S. must file their individual tax returns or request a four-month extension (Form 4868).
- Third-Quarter Estimated Tax Payments Due
- Final Deadline for Partnerships and S-Corporations:
Partnerships and S-corporations that requested extensions must file their tax returns by this date.
Deadline to Establish SIMPLE-IRA Plans:
Self-employed individuals or small employers must establish SIMPLE-IRA plans for the current tax year by this date.
- Final Extended Deadline for Individual Tax Returns:
File Form 1040 if you requested an automatic extension earlier in the year.
- Final Deadline for SEP-IRA and Solo 401(k) Contributions:
Taxpayers who filed an extension can still contribute to these retirement accounts for the prior year.
- Final Extended Deadline for C-Corporation Tax Returns:
File Form 1120 if an extension was requested.
Staying ahead of these deadlines ensures compliance and minimizes the risk of late filing penalties. For further assistance or questions regarding your tax filing, consult a professional tax advisor.
