List of Important Tax Dates to Know

Employ that Google Calendar to its maximum potential – there are several essential tax dates to know, primarily to ensure you make the deadlines, and also to speed up the tax return process, all while preparing for next year. Read below carefully; this year, things are a little different.

Important Tax Dates to Know

Pre-Filing

Everyone knows the middle of April means filing time, but a few dates ring important much sooner. If you are self-employed, freelance, or generally have fourth-quarter income that requires payment of estimated taxes, postmark by January 15th. Although companies have until February 1st to provide W-2s and 1099 statements, the IRS begins accepts individual electronic returns on January 19th. Match your calculations from pay stubs with these forms to calculate your total taxable income.

You may also be waiting for your 1099-B, 1099-S, and/or 1099-MISC before filing; financial institutions have until February 16th to mail out these forms, detailing your stock, bonds, or other mutual funds through a brokerage account. 1099-S deal with real estate transactions, while 1099-MISC includes other income such as rent and royalty payments, prizes, or awards.

Filing

We all have April 15th engraved in our memory, but this year, we get a little wiggle room. The deadline this year is April 18th, due to Emancipation Day, a Washington, D.C., holiday, and April 19th if you reside in Maine or Massachusetts. E-file or postmark your tax return, or file for an extension, by this date.

April 18th is important for other reasons as well – if you’re self-employed and paying quarterly taxes as mentioned above, get your Form 1040-ES postmarked by this date as well; the next will be June 15th. Further, if you haven’t already funded your retirement account for 2015, this is the deadline, which includes a traditional IRA, deductible or not, and a Roth IRA. If you have a Keogh or SEP, you can get an extension to put 2015 income into these accounts. Lastly, if you are years’ behind on your taxes, April 18th is the final deadline filing an original tax return and still receive a refund, as far back as 2012. For those in Maine and Massachusetts, the

Post-Filing

If you have a foreign bank account or accounts totaling over $10,000, June 30th is the deadline to file a Foreign Bank Account Report for 2015. Filing is electronic only, and extensions are prohibited. Third quarter estimated tax payments are due September 15th for those self-employed. If you snagged an extension, complete your taxes by October 17th. This is also the day for recharacterizing, or undoing, the conversion of a traditional IRA to a Roth IRA during 2015; this can save you money if the IRA has lost value since its conversion.

Know Your Tax Dates, Nail Your Taxes

Prepare for next year’s cycle by setting those dates now and securing a space, whether it’s in your office or electronic, to file away your necessary paperwork for 2017, from past W-2s, business expenses, and receipts.

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