April 15
April 15 is supposed to be the day that tax returns are due — unless something interferes with that timing, like the date falling on a weekend or a holiday. Whenever a tax deadline falls on a Saturday, a Sunday, or a legal holiday, it’s typically moved to the next business day. This doesn’t happen in 2019, however. April 15 falls on a Monday and it’s not a holiday, so the filing deadline for your 2018 tax return is indeed April 15 in 2019.
The Internal Revenue Service has not yet announced a firm date when it will begin processing tax returns in 2019, but this typically happens in mid-January.
Here are some other important deadlines to keep in mind.
Deadlines in Calendar Year 2019 for 2018 Returns
Estimated tax payments for the 2018 Tax Year (IRS Form 1040ES)
These were due on April 17, June 15, and Sept. 17, 2018. The fourth and final estimated payment for the 2018 tax year is due on Jan. 15, 2019.
Estimated tax payments for the 2019 Tax Year (IRS Form 1040ES)
April 15, 2019
June 17, 2019
Sept. 16, 2019
Jan. 15, 2020
Partnership returns (IRS Form 1065):
March 15, 2019
Extended deadline is Sept. 16, 2019
Trust and estate income tax returns (IRS Form 1041):
April 15, 2019
Extended deadline is Sept. 30, 2019
C-corporation income tax returns (IRS Forms 1120):
- April 15, 2019 for C corporations that operate on a calendar year
- Extended deadline is Oct. 15, 2019
- The deadline for C corp returns is the 15th day of the fourth month following the end of the corporation’s fiscal year if the corporation is on a fiscal rather than a calendar year.
S-corporation returns (IRS Form 1120-S):
- March 15, 2019 for corporations on a calendar year
- Extended deadline is Sept. 15, 2019
- The deadline for S corp and partnership returns is the 15th day of the third month following the end of the fiscal year if they are on a fiscal year rather than a calendar year.
Foreign bank account reports (IRS FinCen Form 114):
April 15, 2019
Extended deadline with Form 1040 is Oct. 15, 2019
Deadlines Organized by Date
January 15, 2019
Deadline to pay the fourth quarter estimated tax payment for tax year 2018
January 31, 2019
Deadline for employers to mail out W-2 Forms to their employees and for businesses to furnish 1099 Forms reporting, among other things, nonemployee compensation, bank interest, dividends, and distributions from a retirement plan
February 15, 2019
Deadline for financial institutions to mail out Form 1099-B relating to sales of stock, bonds, or mutual funds through a brokerage account, Form 1099-S relating to real estate transactions; and Form 1099-MISC if the sender is reporting payments in boxes 8 or 14
February 28, 2019
Deadline for businesses to mail Forms 1099 and 1096 to the IRS
March 15, 2019
Deadline for corporate tax returns (Forms 1120, 1120A, and 1120S) for the year 2018, or to request automatic six-month extension of time to file (Form 7004) for corporations that use the calendar year as their tax year
Deadline to file partnership tax returns (Form 1065) or to request an automatic five-month extension of time to file (Form 7004)
April 15, 2019
Deadline to file individual tax returns (Form 1040) for the year 2018 or to request an automatic extension (Form 4868). An extension provides an extra six months to file your return. Payment of the tax is still due by
April 15
You can submit payment for any taxes you owe along with the extension form.
Last day to make a contribution to traditional IRA, Roth IRA, Health Savings Account, SEP-IRA, or solo 401(k) for the 2018 tax year. You have until October 15 to fund a SEP-IRA or solo 401(k) if you get an extension.
First-quarter estimated tax payments due for the 2019 tax year
Deadline to file estate income tax or trust income tax returns (Form 1041) or to request an automatic five-month extension of time to file (Form 7004)
May 31, 2019
Deadline for financial institutions to send out Form 5498 to report balances in an individual retirement account
June 17, 2019
Second-quarter estimated tax payments due for the 2018 tax year
June 17, 2019
Deadline for U.S. citizens living abroad to file individual tax returns or file Form 4868 for an automatic 4-month extension
September 16, 2019
Third-quarter estimated tax payments due for the 2019 tax year
Final deadline to file corporate tax returns for the year 2018 if an extension was requested. (Forms 1120, 1120A, 1120S)
October 1, 2019
Deadline for self-employed persons or small employers to establish a SIMPLE-IRA
October 15, 2019
Final extended deadline to file individual tax returns for the year 2018 (Form 1040)
Last day the IRS will accept an electronically filed tax return for the year 2018. If you’re filing after this date, you’ll have to mail in your tax return for processing.
Final deadline to fund a SEP-IRA or solo 401(k) for tax year 2018 if you requested an automatic extension of time to file.
What If You Miss a Date?
The IRS says you should file your return as soon as possible if you miss a deadline. If you owe taxes, pay them as soon as possible as well. You’ll probably be hit with a moderate financial penalty, if only an extra interest charge, but the IRS should accept your money and your return and that will be the end of it unless there’s another problem.
If you owe money and don’t want to send a check to the IRS via snail mail and risk all the extra time that might entail, go to IRS Direct Pay and have the payment debited directly from your bank account. You might also want to e-file your late return if possible if you haven’t missed that deadline. Most taxpayers can do that at IRS Free File. The IRS will accept e-filed returns up until Oct. 15.
And if you can’t pay the tax you owe immediately, don’t delay. File your return anyway and immediately apply for an installment agreement. The IRS will let you pay over time as long as you make arrangements to do so.
Contact TMH CPA & Consulting Firm, with locations in Hattiesburg, Mississippi, Columbia, Mississippi, and Gulfport, Mississippi, for more information.