Don’t Miss These Upcoming IRS Deadlines

Google, Outlook, or a tried and true notepad? Whatever your preference, mark your calendars with these important tax dates. Keeping track (or failing to) can lead to a bigger refund or higher taxes! The important IRS deadlines kick off just this week.

IRS Deadlines You Need to Know

Open Enrollment for ACA Health Insurance: November 1, 2017- December 15, 2017

Healthcare debate is heating up, and regardless of the future of the Affordable Care Act, you should enroll if you’re in danger of paying the penalty. This is especially important as the IRS is expected to enforce this mandate of the ACA for the first time this year. You have until the 15th to enroll and your coverage will be effective January 1st!

IRS Deadline to Maximize Your 401K Contributions: December 31, 2017

It’s a wise move to maximize your 401k contributions whether you’re self-employed or not – the max or this year is $18,000 for yourself and a combined limit of $54,000. You’ll not only save money for retirement, but also on your taxes. Ensure you understand your employer’s matching program.

Arrival of W-2s and 1099-Misc: January 31, 2018

Keep an eye on your mailbox; W-2s and 1099-Miscs starting arriving at the end of January. We recommend immediately scanning these documents so you have both a digital copy and hard copy when you start filing your taxes. This also makes it easier to send your documents to your tax professional.

Tax Year 2017 Tax Deadline: April 17, 2018

The most important date on this list is April 17th – the day your taxes are due. We cannot stress how important it is to not miss the deadline, as back taxes, fees, and headaches can and will pile up. Although you have 2 extra days this year (April 15th is a Sunday and April 16th is Emancipation Day), start speaking with your tax professional ASAP and organize those documents.

Last Day to make a 2017 IRA Contributions: April 17, 2018

In addition to Tax Day, April 17th is the final day to make your IRA contributions. Your refund will thank you, as this lowers your taxable income.

If you’re self-employed or have other quarter income that requires you to pay estimated taxes, you have a higher number of important IRS deadlines to keep in your calendar. Remember these are postmark dates!

IRS Tax Deadlines: Quarterly Payments

The final quarter of 2017 payments are due on January 16, 2018.

The first quarter of 2018 payments are due on April 17th, 2018.

The second quarter of 2018 payments are due on June 15, 2018.

The second quarter of 2018 payments are due on September 18, 2018.

If you have been affected by a recent hurricane or the California wildfires, you have an extension on estimated quarterly taxes.

Are these IRS deadlines overwhelming to you? Be sure to contact a professional tax attorney to help assist you.

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