Income Tax Deadline for the 2016

The usual date for filing taxes is April 15. However this year is a little different. This year April 15 falls on a Saturday and the following Monday is a federal holiday. That makes this year’s income tax deadline April 18, 2017. Although if this isn’t enough time you can still request a six-month extension. That would give you until October 18, 2017 to file (you get the extra three days here too). Although this does not mean that you have more time to pay the taxes you will owe. If you think you will owe you must include a payment of the estimated amount with your extension request. Failure to make a payment will result in penalties and interest fees from the IRS.

In addition April 18, the income tax deadline, here are some other important tax dates for filing your 2016 tax return:

Estimated Tax Payment for Individuals That Pay Their Own Income Taxes (1099):

• April 18, 2017 – Taxes are due on income from January 1, 2017 thru March 31, 2017.
• June 15, 2017 – Taxes are due on income from April 1, 2017 thru May 31, 2017.
• September 17, 2017 – Taxes are due on income from June 1, 2017 thru August 31, 2017.
• January 16, 2018 – Taxes are due on income from September 1, 2017 thru December 31, 2107.

Partnership Returns:

• March 15, 2017 – Taxes are due on income and losses from a partnership using IRS From 1065.
• September 15 2017 – Extended deadline to file a partnership return.

Trust and Estate Income Tax Return:

• April 18, 2017. – Income from trusts and/or estates must be reported using IRS From 1041
• October 2, 2017 – Extended deadline to file trust and estate return.

C-Corporation Income Tax Returns:

• March 15, 2107 – Income tax from c-corporations is due if operating on a calendar year. Use IRS Form 1120.
• September 15, 2107 – Extended deadline to file c-corporation tax return.

S-Corporation Income Tax Returns:

• March 15, 2017 – Income tax from s-corporations is due if operating on a calendar year. Use IRS Form 1120-S.
• September 15, 2017 – Extended deadline to file s-corporation tax return.

Foreign Bank Account Reports:

• April 18, 2017 – Foreign bank accounts must be reported using IRS FinCen Form 114.

If you have any questions about when your tax return is due and/or need help completing your tax return contact one of our certified tax professionals today.