tax tips — April 19, 2019

Tax Dates to Remember Throughout the Year

by Susannah McQuitty

Graphic of April and onward for tax dates

Tax Day has come and gone—you made it! (Or maybe you didn’t, but don’t panic.) You can finally kick back and enjoy the rest of your year without a tax return hanging over your head.

In fact, you can preserve your peace of mind even more by remembering these tax deadlines that pop up throughout the year. None are as big as Tax Day, but all of them are in place to help keep you on top of your taxes so that filing next year isn’t a total headache.

Extra time to file for disaster victims

If you or your business were located in a county that the IRS issued disaster relief to, you may have extra time to get your tax return filed this year. For example, victims of the tornadoes in Alabama back in early March have until July 31, 2019 to file their tax returns.

Check out the IRS page on tax relief for victims of disaster situations for more info and to see if you qualify for extended deadlines.

Freelancers and small businesses

Plan to make enough money that you may owe more than $1,000 in taxes this year? Then make sure you also plan to make quarterly estimated tax payments every three months. Since you’re the boss, you’re required to withhold and send a portion of your income to the IRS for Social Security and Medicare taxes.

The dates to make your estimated tax payments for 2019 are April 15, June 17, September 16, and January 15 (the January payment being in 2020).

June 17 is a tax deadline for Americans living overseas.

Americans overseas

Any US citizens living overseas during the tax deadline get an automatic two-month extension, which means you don’t have to file your tax return until June 17, 2019.

Just like regular extensions, though, the automatic extension for Americans living abroad is for filing, not paying. If you have taxes owed, those are still due April 15.

Extension filers

Those of you who filed a tax extension are in the clear until October 15. Tax extensions are basically a request for an extra six months to file your tax return, but remember—that’s an extension to file, not an extension to pay.

If you filed an extension but know that you have taxes owed, don’t put it off! Even if you can’t pay everything you owe all at once, chipping away at your bill over time is better than waiting until you have the full amount. Penalties for not paying accrue every month and are based on a percentage of your bill. Check out our post on what to do if you can’t pay your taxes for more info.

Employees with tip income

Last, but not least, there are tax dates throughout the year for any employees who make more than $20 in tips per month. Technically, tips are still considered income and are taxed accordingly.

Since cash tips don’t come through your boss, though, there’s no way for them to withhold what you owe and prevent a huge tax bill come spring. To solve the problem, report any tip income over $20 to your employer every month; your employer can then withhold enough to cover your tax bill.

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