On Tuesday, September 17, 2019, Tropical Storm Imelda made landfall in Texas. Over the course of a few days, several cities in the Gulf Coast region endured heavy rain, which left various areas, streets and highways underwater. The PKF Texas office and our team members were safe, however, other Texans unfortunately were impacted by Imelda.
Here are some of the key tax deadlines affecting businesses and other employers during the fourth quarter of 2019.
Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.
If a calendar-year C corporation that filed an automatic six-month extension:
- File a 2018 income tax
If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The third 2019 estimated tax payment deadline for individuals is Monday, September 16.
Even if you do have some withholding from paychecks or payments you receive, you may still have to make estimated payments if you receive other types of income, such as Social Security, prizes, rent, interest and dividends.
Do you want to save more for retirement on a tax-favored basis? If so, and if you qualify, you can make a deductible traditional IRA contribution for the 2018 tax year between now and the tax filing deadline and claim the write-off on your 2018 return. Or you can contribute to a Roth IRA and avoid paying taxes on future withdrawals.
You can potentially make a contribution of up to $5,500 (or $6,500 if you were age 50 or older as of December 31, 2018). If you’re married, your spouse can potentially do the same, thereby doubling your tax benefits.
The deadline for 2018 traditional and Roth contributions for most taxpayers is April 15, 2019 (April 17 for those in Maine and Massachusetts).
There are some ground rules. …
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.
- If a calendar-year C corporation that filed an automatic six-month extension:
- File a 2017 income tax
To avoid interest and penalties, you must make sufficient federal income tax payments long before your April filing deadline through withholding, estimated tax payments, or a combination of the two. The third 2018 estimated tax payment deadline for individuals is September 17.
If you don’t have an employer withholding tax from your pay, you likely…
While April 15 (April 17 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that you also need to be aware of. To help you make sure you don’t miss any important 2018 deadlines, here’s a look at when some key tax-related forms,…