These 4 Tax Deadlines are Coming Up Fast. Here’s What You Need to Know
I’ve been getting my W-2 forms in the mail.
You know, those intimidating sheets of paper that showcase your wages and taxes — all the money that’s been taken out of your paycheck.
The deadline for employers to send these little sheets out was January 31.
So now that you’ve got your W-2 form(s) in hand, it’s time to start procrastinating, right?
That’s how I feel, anyway. These forms give me a weird type of anxiety. It’s serious. What do I do with this? Can I just hand it off to my dad?
So I set it on my desk — where it’ll collect dust for a few months. Until the deadline approaches.
When are My Taxes Due in 2017?
That’s when you need to file your 2016 tax returns.
Fun fact: The universal “Tax Day” is April 15. But it lands on a Saturday this year. And Washington D.C. celebrates its Emancipation Day the next Monday.
So mark Tuesday, April 18, 2017, on your calendar.
But there’s more to that day than just filing your returns.
4 Tax Deadlines That Land on April 18, 2017
It’s not just those pesky W-2 forms you need to worry about. April 18 is a big day with many deadlines.
So, be sure to:
1. File individual tax returns.
You’ve got to e-file or postmark your taxes by midnight.
You’ll need to use form 1040, 1040A or 1040EZ and pay any taxes you might have due. If you don’t know what form you need (because I didn’t), consider:
- Form 1040 is for all taxpayers. It offers more tax breaks than the simpler forms listed below.
- Form 1040A is for those who meet a number of requirements, including those who have a taxable income of $100,000 or less and claim a standard deduction (versus an itemized deduction).
- Form 1040EZ is for individuals or married couple (filing jointly) who meet a number of requirements, including those with an income less than $100,000 and who aren’t claiming a dependent. It’s the simplest form to fill out, according to IRS.gov.
For more info on these documents and their requirements, I recommend you study up at IRS.gov. It’s not as intimidating as it might sound. (That’s saying a lot… coming from me.)
2. File an extension.
Need an extension? You need to file it by April 18. You can do so online for free.
Reasons for extensions include emergencies, extended vacations, overloaded work schedules and utter unpreparedness.
The extension runs six months. If you opt for this, you’ll need to mark October 16, 2017, on your calendar. That’s your new deadline.
3. File your estimated taxes.
For those of you who are self-employed: You should already have this date on your calendar.
You must file these four times a year: April 18, June 15, September 15 and January 17.
The IRS has tons of information for you to read up on.
4. Make final 2016 IRA contributions.
For more information — because you’re going to want to make the most out of these — the IRS has you covered.
Your Turn: Do you know your tax deadlines?
Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder. She’s really good at procrastinating.