IRS Deadlines You Need to Remember

The IRS runs on numbers, dates, and deadlines. If you miss certain IRS deadlines for your tax situation, you could end up paying in the form of penalties and interest. Remembering important IRS deadlines is the first step toward getting your taxes in order. Continually meeting IRS deadlines is key to keeping them that way.

Here are a few IRS deadlines that every taxpayer needs to know.

Keep Your Taxes in Order by Remembering Important IRS Deadlines

January 31

Most people typically think of April 15 as the IRS’s first important date each year, but businesses face an important deadline several weeks prior.

January 31st is the IRS deadline for furnishing 1099 statements. These forms report non-employee payments to independent contractors, among other payments. This date is also the last day to mail W-2 forms to current or former employees.

Running a business may be fulfilling, but employers still have tax obligations. Meeting the January 31 deadline is just one of them.

April 15

This date lives on in everyone’s calendars. April 15 is the IRS deadline for filing tax returns.

But it’s not that hard of a deadline. If requested with Form 4868, the IRS will typically grant you a six-month extension to file a return. You’ll still have to do the math as to your overall tax bill, but it can buy some time.

April 15 wasn’t always the IRS’s most unpopular recurring deadline. Tax day used to fall on March 15, but Congress gave the IRS an extra month to deal with the annual logjam of tax returns.

May 15

If you’re running a charity or nonprofit, your organization may not have to pay taxes, but it’ll still have an IRS deadline to meet. These organizations have to file Form 990 or 990EZ five months and fifteen days after the organization’s tax year ends. So, if the tax year for a nonprofit ends on December 31, its deadline will be May 15.

IRS Deadlines for U.S. Citizens Abroad

Mid-June

U.S. citizens living and working abroad have until mid-June to pay their taxes to Uncle Sam. The tax deadline for American expatriates – including military personnel serving abroad – falls around the mid-June time frame.

In 2013, this deadline was June 17. In 2011, it was June 15. If you file as an expat, you’ll need to attach a statement indicating whether you’re a member of the military or an American who is both living and working internationally.

Like with the April 15, deadline, there’s an extension for this deadline, too. If tax day occurs when members of the armed forces are serving in a combat zone, they typically get 180 days after leaving the combat zone to file. If an American expat can’t meet the mid-June deadline, an extension until mid-October can be obtained.

Extension Deadlines

October 15

If you filled out and filed an IRS Form 4868, you bought another six months to pay your tax bill. But getting a six-month extension doesn’t completely postpone payment of your tax bill. You’ll still have to pay additional interest.

Meeting deadlines is a regular thing for most people. The rent, electric bill, or credit card payment has a fixed date that must be met. Same with the IRS. By meeting important IRS deadlines, you can stay out of financial trouble and keep your tax situation in good order.

Mastering IRS Deadlines

How do you organize the IRS deadlines? We want to know your input. Comment below, or tweet us at @stopirsdebt!

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