A new year means tax return filing season has arrived once again. Among the tax deadlines you may be required to meet in the next few months are the following:
January 15 – Due date for the fourth and final installment of 2015 estimated tax for individuals (unless you file your 2015 return and pay any balance due by February 1).
February 1 – Employers must furnish 2015 W-2 statements to employees. Payers must furnish 1099 information statements to payees. Applicable large employers (generally employers with 50 or more full-time employees in the previous year) must furnish Forms 1095-C,Employer-Provided Health Insurance Offer and Coverage, to employees. *(The deadline for Form 1099-B and consolidated statements is February 16.)*
February 1 – Employers must generally file 2015 federal unemployment tax returns and pay any tax due.
February 29 – Payers must file information returns (such as 1095s and 1099s) with the IRS. *(March 31 is the deadline if filing electronically.)*
February 29 – Employers must send W-2 copies to the Social Security Administration. *(March 31 is the deadline if filing electronically.)*
March 1 – Farmers and fishermen who did not make 2015 estimated tax payments must file 2015 tax returns and pay taxes in full to avoid a penalty.
March 15 – 2015 calendar-year corporation income tax returns are due.
March 15 – Deadline for calendar-year corporations to elect S corporation status for 2016.
March 31 – Large employers must furnish Forms 1095-C to employees.
March 31 – Payers who file electronically must submit 2015 information returns (such as 1099s) to the IRS.
March 31 – Employers who file electronically must submit 2015 W-2 copies to the Social Security Administration.
April 18 – Filing deadline for IRS Tax Returns for 2015
June 15 – Due date for making your second installment of 2016 individual estimated tax.
June 15 – Due date for calendar-year corporations to make second quarter 2016 estimated tax payments
June 29 – Deadline for filing the required form for the Work Opportunity Tax Credit for employees hired between January 1, 2015 – May 31, 2016
June 30 – Deadline for filing the 2015 Form 114, Report of Foreign Bank and Financial Accounts (FBAR) – Must be filed electronically with the Treasury Department
August 1 – is the deadline for filing retirement or employee benefit returns (5500 series) for plans on a calendar year. (The usual due date of July 31, 2016, is a Sunday.)
September 15 – Last day to file if you filed with Form 1065 and filed for a 5 month extension for tax return.
September 15 – 3rd quarter tax returns due for July – September.
October 14 – Deadline for Sole Proprietors, Single member LLC’s and personal tax returns.
October 17 – Last day to file if you filed a 6 month extension as a corporation using Form 1120 or 1120s.
October 17 – Last day to file 2015 individual tax return if given an extension.
October 17 – Deadline to fund a SEP-IRA or solo 401(k) for 2015 tax year, if you requested an automatic extension.
December 1 – The Dept. of Labor rules for overtime pay take effect. Salaried employees earning less than $913 per week ($47,476 per year) will be eligible for overtime pay.
December 31 – Deadline for making tax moves for 2016.
December 31 – Final day to set up solo 401(k) for self employed individuals.
December 31 – Deadline to complete 2016 tax-free gifts of up to $14,000 per recipient.
December 31 – Deadline for paying expenses you want to be able to deduct on your 2016 income tax return.
*Information presented on this website should not be construed as formal accounting or tax advice or the formation of an Accountant/CPA-client relationship. Additionally, any email sent to C.E. Thorn, CPA, PLLC at the email addresses set forth in this website will not create an Accountant/CPA-client relationship.