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.
Make sure you aren’t missing important 2016 deadlines. Our Raleigh accountants are ready to help you process and file your taxes.
Contact the accounting office of C.E. Thorn, CPA, PLLC., by calling 919-420-0092 or filling out the online contact form to receive all the benefits of working with an experienced accounting professional.