Tax Attorney Tips: Keep 2019 Tax Deadlines in Mind to Avoid Penalties

As 2018 winds down, the 2019 tax deadlines loom large.

Minding these deadlines is the best way to avoid penalties and stay off the IRS’s radar. The dates that matter for your filings vary based on whether you are:

• An individual filer
• A business owner
• A self-employed person
• An employer

The categories listed above apply to many taxpayers, which can make compliance a challenge. If you work with a tax attorney, they will help ensure you stay on schedule.

2019 Individual Tax Deadlines

Individual tax filing deadlines are fairly straightforward. If you pay quarterly taxes, the 2019 deadlines are:

• Jan. 15 (4Q18)
• April 15 (1Q19)
• June 15 (2Q19)
• Sept. 15 (3Q19)

Annual individual tax filings are due, as always, on April 15. This is also the deadline to apply for an extension for your 2018 filing. If you get an extension, your filing is due on Oct. 15.

April 15 is also the last date that you can make a 2018 IRA contribution (traditional and Roth). If you have a SEP or Keogh IRA and you get an extension to your filing deadline, you can contribute until that date (Oct. 15).

2019 Business & Self-Employed Tax Deadlines

Small businesses and self-employed individuals potentially have many deadlines in 2019, depending on how you file and how much income you have. Some highlights include:

• W2s & 1099s — These forms must be issued by Jan. 31 for most employees/recipients and reported to the IRS at the same time.
• Payroll taxes — All withheld employee income taxes, Medicare and Social Security taxes must be deposited by the 15th day of each month if you follow the monthly deposit rule. If you must deposit semi-weekly, deposits are due by Wednesday for payroll issued the previous Wednesday through Friday and Friday for payroll issued the previous Saturday through Tuesday. Form 941 filings are due on the last day of January, April, July and October for the prior quarter.
• FUTA taxes — Deposits must be made by the last day of the month after quarter’s end. Form 940 filings are due Jan. 31.

Corporate taxes for companies that operate by the calendar year are typically due on April 15, or if you received an extension, Oct. 15. For calendar year partnerships, S corporations, the deadline to file a 2018 return or extension request is March 15. If you receive an extension, the filing deadline is Sept. 15. Trust and estate forms must be filed by April 15 or Sept. 30, with an extension.

It’s important to note that these are general guidelines, for which there are many exceptions — including weekends and federal holidays. The due dates for you may be different. To ensure you maintain compliance with all 2019 deadlines and obligations, consult your tax attorney before the end of the year.

The compliance expert tax attorneys at Cantley Dietrich are committed to keeping our clients on schedule with all tax-related obligations. Contact us to learn more about our services and how we can help you meet the requirements of the 2019 tax deadlines.