Which IRS deadlines apply to you?

Have you started preparing for tax season yet? Check out this blog entry for our detailed list of important deadlines now through April 15th!

January 15th– This was the deadline to pay your 4th quarter taxes for 2012. Want to avoid the penalty of a late payment? You’re in luck! If you can pay in full, the IRS extended the date to January 31st. Make sure to take advantage of this!

January 30th– IRS will begin to accept tax returns from 2012.

January 31st– By law, employers MUST mail out W-2’s by this date and business’ must finish their 1099’s. Self-employed individuals must file their taxes to avoid penalty for not paying for the 2012 4th quarter.

February 15th– Employees who claim exemption from withholding need to file a new W-4 form with their employers. This is also the last day for financial institutions to mail out their 1099-B form relating to stocks, bonds, mutual funds, etc. Also, the 1099-S form that relates to real estate transactions is due.

March 1st– Calling all farmers and fishermen! Those that have a balance on their taxes need to file their individual taxes and pay the balance to avoid penalties.

March 15th– Forms 1120, 1120A and 1120S must be filed for corporate tax returns, or you must request a 6-month extension, called form 7004. This is also the final date to file an amended corporate tax return for 2009 and still claim a tax refund!

April 15th– Individual tax returns (1040, 1040A or 1040EZ) must be filed or a request for an Automatic Extension (form 4868), which will provide you with a 6-month extension to file your returns! This is also the last day to make a contribution to a traditional IRA, Health Savings, SEP-IRA or solo 401k, or Roth IRA for 2012. If you get an extension, you’ll have until October 15th to fund a stock up for a SEP-IRA or solo 401k.

Interested in how these apply to you? Give us a call and we can give you a free consultation on getting organized!

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