Wednesday, November 29, 2023

The Most Important Deadlines For Income Tax

Two people doing their taxes on the laptop

Taxes are something that’s unavoidable for Americans. Most people are familiar with the income tax deadlines, but it can be more complex than you realize. Now that 2019 is here, be sure to learn the important tax deadlines. The tax code can be confusing if you don’t know what you’re doing, but this list of deadlines will help make it easier.

January 31, 2019

This is the first major deadline concerning individuals this year. It’s the deadline for employers to mail out all 2018 employees a W2 form. This is also the deadline for businesses to send out 1099 forms for interest tax.

February 15, 2019

February 15th is the financial institution deadline for mailing out 1099 forms for stocks and bonds as well as dividend interest. This also includes distribution from a retirement plan.

February 28, 2019

By this deadline, businesses must mail out 1099 forms to the IRS.

March 15, 2019

Forms 1120, 1120-A, and 1120-S (Corporate tax) are due on this date. This is also the deadline to file a 6th month extension for these forms.

April 15, 2019

This is the most important tax deadline for this year. Individual forms 1040 are due on this date. This is also the last day you can make IRA/401k contributions for the 2018 tax year.

​May 31, 2019

Employers must mail out form 5498 to the IRS on this date to show the balance of individual retirement plans.

June 17, 2019

This is the deadline for individuals who are U.S. citizens but living abroad to file their tax forms or file for an extension.

October 15, 2019

This is the final extended deadline for 2018 taxes to be turned in. If you filed for an extension, this is your due date. If you miss this date you could be penalized. In case you do, you’ll need to mail in your forms.

By knowing these important income tax deadlines, you can be better prepared for this tax year.