Everyone knows April 15 as tax day, but the deadline for filing this year is different — April 18 — due to calendar quirks. There are also a number of other important dates that could affect your taxes for both this year and next.
For instance, self-employed workers and those who pay quarterly estimated taxes had until Tuesday, Jan. 17 to make their fourth-quarter 2016 payment. If you missed making this payment, you can avoid a penalty if you submit the return and pay the full balance by Jan. 31 — yet another tax date to mark.
Put these nine other IRS deadlines on your 2016 calendar while you prepare your 2016 individual income tax returns:
Monday, Jan. 23: The IRS begins accepting individual electronic returns. It expects more than 153 million individual tax returns to be filed this year, with four out of five e-filed using tax return preparation software.
Tuesday, Jan. 31: Companies must mail out W-2 forms to their employees by this day, and businesses must send 1099 statements — which report non-employee compensation, bank interest, dividends and distributions from a retirement plan, and help calculate your total taxable income — by this deadline.
Wednesday, Feb. 15: The IRS is required under a new law to hold refunds claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) until this date to deter fraudulent claims. Taxpayers who claimed these credits may not get a refund until the week of Feb. 27 due to the President’s Day holiday, the agency said.
This is also the deadline for financial institutions to mail out 1099-B, 1099-S and 1099-MISC forms. The 1099-B forms show sales of stocks, bonds or mutual funds through a brokerage account, while 1099-S forms relate to real estate transactions and 1099-MISC forms detail other income such as rent, royalty payments or prizes from TV or radio shows.
Wednesday, March 1: Farmers and fishermen must pay any balance due on their taxes and file their individual tax returns by this deadline to avoid late-payment penalties.
Saturday, April 15: Taxpayers with more than $10,000 in foreign bank accounts must electronically file a Foreign Bank Account Report for the 2016 tax year by this date. Extensions aren’t allowed.
Tuesday, April 18: Tax day is usually April 15, which falls on a Saturday this year. The tax deadline would normally be the next business day, which is Monday, April 17, but that’s Emancipation Day — a Washington, D.C., holiday—which pushes the he tax deadline to file individual tax returns for 2016 to the next day, April 18. You can also request an automatic extension, which gives you an additional six months to submit your return. But your tax payment is still due by April 18 if you file for an extension.
If you paid $2,000 or more to a household employee in 2016, you must file a Schedule H with your Form 1040 by this day. Self-employed workers who pay quarterly estimated tax must pay their first-quarter tax payment for 2017 by this deadline.
This is also the deadline to make a contribution to a traditional IRA, Roth IRA, Health Savings Account (HSA), SEP-IRA or solo 401(k) for 2016. If you file an extension, you get until Oct. 16 to fund a SEP-IRA or 401(k).
For those behind on their taxes by years, this is the final deadline to file an original tax return for 2013 and still claim a refund. Refunds generally expire three years from the original filing date of the tax return. This is also the deadline to submit an amended tax return for 2013 and still get a refund.
Thursday, June 15: U.S. taxpayers living abroad must submit their individual tax returns and pay any tax due by this day, or file for a four-month extension. Self-employed workers who pay quarterly estimated tax must pay their second-quarter tax payment for 2017 by this deadline.
Friday, Sept. 15: Self-employed workers who pay quarterly estimated tax must pay their third-quarter tax payment for 2017 by this deadline.
Monday, Oct. 16: If you filed for an extension, this is the final deadline to file your individual tax return for 2016. This also applies to U.S. citizens living abroad who filed an extension. This is also the final deadline to fund a SEP-IRA or solo 401(k) for the 2016 tax year if you had filed an extension by April 18.