Individual Tax Calendar: Key Deadlines For the Remainder of 2017

Individual Tax Calendar: Key Deadlines For the Remainder of 2017

While April 15 (April 18 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that are important to be aware of. To help you make sure you don’t miss any important 2017 deadlines, here’s a look at when some key tax-related forms, payments and other actions are due. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Please review the calendar and contact us if you have any questions about the deadlines or would like assistance in meeting them. June 15 • File a 2016 individual income tax return (Form 1040) or file for a four-month extension (Form 4868), and pay any tax and interest due, if you live outside the United States. • Pay the second installment of 2017 estimated taxes, if not paying income tax through withholding (Form 1040-ES). September 15 • Pay the third installment of 2017 estimated taxes, if not paying income tax through withholding (Form 1040-ES). October 2 • If you’re the trustee of a trust or the executor of an estate, file an income tax return for the 2016 calendar year (Form 1041) and pay any tax, interest and penalties due, if an automatic five-and-a-half month extension was filed. October 16 • File a 2016 income tax return (Form 1040, Form 1040A or Form 1040EZ) and pay any tax, interest and penalties due, if an automatic six-month extension was filed (or if an automatic four-month extension was filed by a taxpayer living outside the United States). • Make contributions for 2016 to certain...
A Timely Postmark on Your Tax Return May Not Be Enough to Avoid Late-Filing Penalties

A Timely Postmark on Your Tax Return May Not Be Enough to Avoid Late-Filing Penalties

Because of a weekend and a Washington, D.C., holiday, the 2016 tax return filing deadline for individual taxpayers is Tuesday, April 18. The IRS considers a paper return that’s due April 18 to be timely filed if it’s postmarked by midnight. But dropping your return in a mailbox on the 18th may not be sufficient. An example Let’s say you mail your return with a payment on April 18, but the envelope gets lost. You don’t figure this out until a couple of months later when you notice that the check still hasn’t cleared. You then refile and send a new check. Despite your efforts to timely file and pay, you’re hit with failure-to-file and failure-to-pay penalties totaling $1,500. Avoiding penalty risk To avoid this risk, use certified or registered mail or one of the private delivery services designated by the IRS to comply with the timely filing rule, such as: DHL Express 9:00, Express 10:30, Express 12:00 or Express Envelope, FedEx First Overnight, Priority Overnight, Standard Overnight or 2Day, or UPS Next Day Air Early A.M., Next Day Air, Next Day Air Saver, 2nd Day Air A.M. or 2nd Day Air. Beware: If you use an unauthorized delivery service, your return isn’t “filed” until the IRS receives it. See IRS.gov for a complete list of authorized services. Another option If you’re concerned about meeting the April 18 deadline, another option is to file for an extension. If you owe tax, you’ll still need to pay that by April 18 to avoid risk of late-payment penalties as well as interest. If you’re owed a refund and file late, you...