Do tax deadlines seem to sneak up on you? April 15th isn’t the only important day on the tax calendar. There are a number of important tax deadlines throughout the year that may or may not impact you depending on factors such as whether you own a business, make estimated tax payments, or contribute to a retirement account.
This tax deadline calendar should help you stay on top of those deadlines in 2019 and avoid penalties and interest. Grab your calendar or planner and jot down the dates applicable to you.
Q1 (Jan. – March): Getting Ready for Tax Filing Season
Employees who work for tips and received $20 or more in tips during December should report them to their employer using Form 4070.
Taxpayers who make quarterly estimated tax payments should make their fourth-quarter 2018 estimates. It’s also a good time for anyone who didn’t have enough tax withheld from their income to make an estimated payment. You can use Form 1040-ES to calculate and mail estimated payments or use IRS Direct Pay to make a payment online with your checking account.
You don’t have to make this payment if you file your 2018 tax return and pay any tax due by January 31, 2019. For farmers and fisherman, that deadline is extended to March 1st to avoid an estimated tax penalty.
Individuals who didn’t make their last installment of estimated tax by January 15th can file their 2018 tax return and pay any balance due by January 31st to avoid a penalty for late payment of their fourth-quarter installment.
For employers and vendors, this is the deadline to send W-2s to employees. It’s also the deadline for filing Form 1099-MISC with non-employee compensation payments in Box 7. This deadline applies to both the recipient and IRS copies of the 1099-MISC, whether your file electronically or on paper.
Employees who work for tips and received $20 or more in tips during January should report them to their employer using Form 4070.
If you claim an exemption from federal income tax withholding on Form W-4, you have until this date to file a new Form W-4 with your employer to continue your exemption for another year.
This is also the filing deadline for Informational Returns for businesses who report payments on Form 1099-B, 1099-S, or payments in Box 8 or 14 of Form 1099-MISC.
This is the deadline for paper filing of Form 1099-MISC if yours has entries in boxes other than Box 7, 8, and 14 mentioned above.
This is the deadline to file for farmers and fisherman who did not make their fourth-quarter 2018 estimated tax payment on January 15th to file their tax return and pay their balance due. If you wait until the April 15th deadline to file and pay, you may be charged a penalty for underpayment of estimated tax.
Employees who work for tips and received $20 or more in tips during February should report them to their employer using Form 4070.
This is the deadline for partnerships and S corporations to file their 2018 calendar-year returns using Form 1065 or Form 1120-S. It’s also the deadline to provide each partner or shareholder with a copy of their Schedule K-1. You can request an automatic six-month extension of time to file your return using Form 7004.
This is also the deadline for filing Form 2553 to make an S corporation election for the calendar year 2019. If the election is made after this date, S corporation treatment will not begin until the calendar year 2020.
Q2 (April – June): Tax Day & More
This is the deadline to electronically file Information Returns such as Form 1097, 1098, 3921, 3922, and W-2G with the IRS. It’s also the deadline for filing Form 1099 — without Form 1099-MISC — with the IRS.
For individuals who turned 70½ in 2017, this is the deadline to take their first Required Minimum Distribution (RMD) from an IRA or employer-sponsored retirement plan.
Employees who work for tips and received $20 or more in tips during March should report them to their employer using Form 4070.
This is a big deadline for both individuals and businesses.
For individuals, this is the deadline to file 2018 Form 1040 and pay any tax due. The exception is residents of Maine and Massachusetts, who have until April 17th.
If you need more time to prepare a complete and accurate return, you can request an automatic six-month extension using Form 4868. However, this is an extension of your time to file, not an extension of your time to pay. You must still pay any tax you estimate you owe by April 15th to avoid penalties and interest.
This is also the deadline to make your first-quarter 2019 estimated tax payment using Form 1040-ES.
Contributions to traditional and Roth IRAs for the 2018 tax year must be made by this date. Self-employed people who contribute to a SEP IRA must make their contributions before filing their individual return — so, either April 15th or October 15th if you requested an extension of time to file your tax return.
This is also the deadline to open and fund a Health Savings Account (HSA) for 2018. HSAs must be established by the tax filing deadline — without extensions — for the tax year in which your contributions will apply. So even if you extend your tax return, you will need to open and fund your HSA by this date.
If you paid cash wages of $2,100 or more to a household employee — such as a babysitter, nanny, housekeeper, or gardener — in 2018, this is the deadline to file Schedule H and report any household employment taxes. If you file Form 1040, you’ll attach Schedule H to your return. If you’re not required to file a 2018 tax return — for example, because your income is below the minimum amount required to file — you can submit Schedule H by itself.
For corporations, this is the deadline to file a 2018 calendar-year income tax return using Form 1120 and pay any tax due. If you want an automatic extension, you can request one using Form 7004. Be sure you pay any estimated tax due for 2018 by this date to avoid penalties and interest. It’s also the deadline for corporations to make their first-quarter 2019 estimated tax payment using Form 1120-W.
Employees who work for tips and received $20 or more in tips during April should report them to their employer using Form 4070.
Employees who work for tips and received $20 or more in tips during May should report them to their employer using Form 4070…..Read More>>>