When asked about tax deadlines, most people think of April 15th— the traditional due date for filing tax returns. Yes, this is an important due date. But you should be aware that there are many additional deadlines throughout the tax season, and that meeting all your deadlines can save you a load of stress (and possibly costly penalties).
Tax filing deadline for 2019
Unlike the past few years, April 15th falls on a business day (Monday, specifically) in 2019, meaning that IRS processing centers will be open and ready for business. For all you procrastinators out there, sorry, no extra days to scramble to file this year!
New tax reform
Commonly known as the Tax Cuts and Jobs Act, major tax reform affecting both businesses and individuals was introduced in December 2017. Most of the resulting changes take effect in 2018 for returns to be filed in 2019. Take a look at this guide on reform basics to find out what you need to know to file your 2018 return next year.
Other important 2019 tax deadlines:
- January 31: Businesses and employers must both distribute to employees AND file with the IRS Forms W-2, W-3 and/or Form 1099.
- Mid-February: All refunds claiming the EITC or ACTC cannot be issued before this time
- March 15: Partnership (Form 1065) and S-Corporation (Form 1120S) returns or requests for extensions are due
- April 15: Individual (Form 1040) and C-Corporation (Form 1120) returns or requests for extensions due
- April 15: Last day to make 2018 IRA contributions
- September 16: Extended partnership and S-Corporation returns due
- October 15: Extended individual and C-Corporation returns due
Remember, this list is by no means exhaustive. There are any number of variables that may affect deadlines for individuals or businesses filing taxes. Collect tips from your job? Don’t forget to turn in Form 4070 by the 10th of each month. Farmer or fisherman? You may not have to file until April 15th if you paid your 2018 estimated tax by January 15th. Always double-check due dates depending on your specific situation. And if you’re feeling a bit overwhelmed with all the numbers, dates, and jargon associated with tax season, let Ten Key, Inc. help. Contact us with questions about your business’ tax deadlines anytime.