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Tag: tax deadline

Posts Tagged ‘tax deadline’

Tax Deadlines for the 2019 Tax Season!

Posted by Manisha Hansraj on April 12, 2019
Last modified: April 12, 2019

2019 tax deadlines

Important upcoming deadlines you need to know.

Tax season is a stressful time for some taxpayers. However, knowing each tax deadline will give you a heads up so you know how to stay on top of your game.

For all the 2019 tax deadlines that are left, take a look at the list of due dates below.

April 15, 2019

  • Individual Income Taxes deadline
  • Last day to file and pay if you owe taxes to the IRS without accumulating penalties
  • Final day to file a tax extension to the IRS
  • First Estimated Quarterly Tax Payment due
  • Sole proprietor, LLC, and corporation taxes due
  • IRA contribution deadline
  • Last day to postmark, paper-file and claim your 2015 refund

April 17, 2019

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How to File your First Tax Return

Posted by Michelle O'Brien on November 13, 2015
Last modified: November 2, 2016

Filing your first tax return is a bit like doing your laundry.

You don’t want to do it. You’d prefer someone just did it for you. But if you don’t do it, you know there will be consequences. 

Unlike laundry, you’ll need to do a bit more sorting, as in sorting through of all those tax forms. And unlike laundry, you really should know the basics before you start. Don’t worry though: you’ll get through it and probably even get a refund afterwards.

 

Find out if you are being claimed as a dependent!

The first thing you should do is talk to your parents. Since they’ve been claiming you as a dependent since before you could even utter the words, ‘tax return’, make sure they know you are planning on filing for yourself to avoid being rejected by the IRS. Each and every person is allowed to claim a personal exemption for themselves or their dependent. However, only one exemption can be claimed per person.

Here’s a classic scenario:

Abby was just hired as a barista at that awesome new cafe downtown. She makes a decent income and her co-worker mentions that she could probably cash in on a nice refund come tax time. Being that Abby is only 17 and earning less than the threshold allotted by the IRS, her parents can still claim her as a dependent on their return. If Abby files a tax return and claims the personal exemption for herself, not noting that she is being claimed as a dependent, and then her parents claim the personal exemption for Abby on their return, the IRS will reject the last tax return submitted.

 

Do you know the age requirements to be claimed as a dependent?

Although your age doesn’t specifically determine if you need to file a tax return, it is a key player in whether or not you can be claimed as a dependent on someone else’s taxes. When it comes to age, you can only be claimed as a qualifying child dependent if one of the following is true: (more…)

How Do I File a Tax Extension?

Posted by admin on February 6, 2013
Last modified: December 22, 2016

If you can’t file your return by the April deadline, request an extension! That will give you an extra six months to file.

Did the month of April sneak up on you? Is the time until tax day already loaded with obligations? Is that pile of receipts on your desk beginning to look more and more intimidating, the prospect of filing your return by the deadline more and more remote?

Don’t worry. There’s a way you can buy yourself some extra time to get through the work of filing your return. It’s called a tax extension.

First, remember that tax day typically falls on or around April 15th. If you don’t have enough time to get your return together before then, you can apply for an extension.

Do this by filing Form 4868 [Application for Automatic Extension of Time to File U.S. Individual Income Tax Return] before April 15th. If your application is accepted, the IRS will grant you an additional six months to file. You then have until October to get everything squared away with the IRS. This is without accruing any of the penalties that normally accompany filing late. (more…)