The tax season can be confusing. And make no mistake about it, that is by design. The U.S. Tax Code started out as about 30 words. It now fills more than seventy thousand pages of convoluted text.
The sheer number of forms and dates they are due is almost impossible to comprehend.
So, Taxbot is starting Tax Season Today.
Tax Season Today is a series of informational posts that will appear on our social media platforms. They’ll let you know what is due when.
For reference though, we’d encourage you to get a copy of IRS Publication 509 – The IRS Tax Calendar for 2019, which you can download here.
The better you are at making sure everything is where it’s supposed to be, the lesser your chance of the dreaded IRS audit.
It’s not enough to know what is due on April 15th. But, for the record, that is…
Individuals: File a 2018 Form 1040 and pay any tax due. If you live in Maine or Massachusetts, you may file by April 17. If you want an automatic 6-month extension of time to file the return, file Form 4868 and pay what you estimate you owe in tax to avoid penal- ties and interest. For more information, see Form 4868. Then, file Form 1040 by October 15.
Individuals: If you’re not paying your 2019 income tax through withholding (or won’t pay in enough tax during the year that way), pay the first installment of your 2019 estimated tax. Use Form 1040-ES. For more information, see Pub. 505.
Household Employers: If you paid cash wages of $2,100 or more in 2018 to a house- hold employee, you must file Schedule H (Form 1040), Household Employment Taxes. If you’re required to file a federal income tax return (Form 1040), file Schedule H (Form 1040) with the return and report any house- hold employment taxes. Report any federal unemployment (FUTA) tax on Schedule H (Form 1040) if you paid total cash wages of $1,000 or more in any calendar quarter of 2017 or 2018 to household employees. Also, report any income tax you withheld for your household employees. For more information,
Corporations: File a 2018 calendar year income tax return (Form 1120) and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe in taxes.
Corporations: Deposit the first installment of estimated income tax for 2019. A work- sheet, Form 1120-W, is available to help you estimate your tax for the year.
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