Tax Deadlines In 2020
While Tax Day (April 15th this year) is the only date some people may have on their calendar when it comes to tax deadlines, there are actually many important tax dates throughout the year. These due dates impact both businesses and individuals. The dates you’ll need depend on your unique situation.
What is a Tax Calendar?
A tax calendar is a 12-month calendar divided into quarters. This calendar gives specific due dates for:
- Filing tax forms
- Paying taxes
- Other actions taxpayers may have to take as required by federal tax law
This tax calendar is suitable for individual tax filers, small businesses, and employers. It contains information about how to use the calendar and general tax deadlines throughout 2020. Here are some of the important deadlines.
January, February, & March Tax Deadlines
January 15: Estimated quarterly tax payments for Q4 of 2019 are due.
January 31: Form W-2 and 1099-MISC for non-employee compensation (box 7) must be filed with the IRS and furnished to individuals by this deadline. As an individual taxpayer, you will receive a copy of these forms around date.
February 18: Individuals who claimed exemption from income tax withholding last year on Form W-4, Employee’s Withholding Allowance Certificate, must file a new Form W-4 with their employer by this date to continue their exemption for another year.
March 2: Farmers and fishermen who did not pay all estimated tax payments by January 15 must file an income tax return and pay any tax due by March 2. If all estimated taxes were paid by January 15, the due date for filing your return is April 15.
March 16: S corporation and partnership tax returns are due. This is the deadline to file an S corporation and partnership tax extension (Form 7004), as well.
April, May, & June Tax Deadlines
April 15: TAX DAY! Your individual 2019 income tax return and state returns are due. If you want an automatic 6-month extension of time to file the return, file an extension and pay what you estimate you owe in tax to avoid penalties and interest.
April 15: If you pay quarterly taxes, the first quarter’s payment for 2020 is due this day.
April 15: Today is the last day to make a contribution to retirement or other tax-advantaged savings accounts, like a traditional IRA, Roth IRA, Health Savings Account, SEP-IRA, and solo 401(k).
April 15: Calendar year estate and trust returns (Form 1041) are due.
April 15: Report of Foreign Bank and Financial Accounts (FBAR) is due.
April 15: First quarter 2020 estimated tax payments are due to the IRS.
June 15: This is the expat tax return due date. If you’re a U.S. citizen or resident alien living and working (or on military duty) outside the United States and Puerto Rico, file Form1040 and pay any tax due or file for a four-month extension.
June 15: The second payment of quarterly estimated tax payments for 2020 is due.
July, August, & September Tax Deadlines
September 15: Estimated quarterly tax payments for Q3 2020 are due.
September 15: Extended deadline for calendar-year partnerships and S corporations.
September 30: Extended deadline for estate and trust income tax returns is today.
October, November, & December Tax Deadlines
October 15: If you have an automatic 6-month tax extension to file your income tax return for 2019, file Form 1040 and pay any tax, interest, and penalties on this date.
October 15: Expat tax returns with extensions are also due this day.
December 1: Start considering making end-of-year tax moves: revisit your charitable donations, retirement savings accounts, and more.
That’s a lot of deadlines… We know it’s hard to stay on top of taxes alone, so that’s why we’re here to help. Get matched with a tax professional at Block Advisors in your area who specializes in your unique needs and can help you file all of the appropriate forms on time!