Tax Season 2020 Deadlines

Tax Season 2020 Deadlines

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Tax Season 2020 Deadlines

Tax season is coming up sooner than you probably want to think about. Balancing daily life with all of the forms and deadlines and penalties can be difficult, but we can help! We have a list of important deadlines for individuals and businesses leading up to the April 15 filing deadline. Mark your calendar with these dates and you can worry a little less about forgetting a deadline.2020 tax season deadlines

January 31 – Individuals who need to make estimated tax but have not done it by January 15 may file by today to prevent receiving a late penalty. If you cannot file and pay by today, you must pay by April 15. Businesses need to file 2019 information to recipients on certain payments with a Form 1099 or similar.

February 10 – Employees earning more than $20 in tips in December need to report them to their employer with a Form 4070.

February 18 – Individuals who claimed exemption from income tax in their 2018 taxes must file a new W-4 by today to continue to receive exemption. Businesses need to file 2019 information to recipients on certain payments with a Form 1099 or similar.

February 28 – Businesses must file Forms 1097, 1098, 1099, 3821, 3922, and W-2G by today to the IRS.

March 2 – Farmers and Fishermen must file their 2019 taxes by today or by April 15 if they paid their estimated tax on January 15.

March 10 – Employees earning more than $20 in tips in December need to report them to their employer with a Form 4070.

March 16 – Businesses need to file the forms necessary for partnerships (Form 1065) and S corporations (Form 1120-S).

March 31 – Forms 1097, 1098, 1099, 3821, 3922, and W-2G must be filed electronically by today to the IRS if you have not filed them physically by February 28.

April 10 – Employees earning more than $20 in tips in December need to report them to their employer with a Form 4070.

April 15 – Individual taxes must be filed with a Form 1040 or Form 1040-SR. If you want a six-month extension, you must file a Form 4868 and pay estimated taxes.

In the case that you file for an extension or have an automatic extension on your taxes, you have six months to file them before the extension deadline in October.

October 15 – If you have an extension, you must have your taxes filed by today.

For more detailed information on tax deadlines for this tax season, take a look at the IRS 2020 Publication 509 with all of the IRS deadlines this year. If you have any questions about these deadlines or would like some help handling your taxes, feel free to contact me.

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