Tax Due Dates

Tax Due Dates for March 2023

March 1 Farmers and Fisherman – File your 2022 income tax return (Form 1040 or Form 1040-SR) and pay any tax due. However, you have until April 18 to file if you paid your 2022 estimated tax by January 17, …

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Tax Due Dates for February 2023

February 10 Employees – who work for tips. If you received $20 or more in tips during January, report them to your employer. You can use Form 4070. Employers – Social Security, Medicare, and withheld income tax. File Form 941 …

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Tax Due Dates for January 2023

During January

All employers – Give your employees their copies of Form W-2 for 2022 by January 31, 2023. If an employee agreed to receive Form W-2 electronically, post it on a website accessible to the employee and notify the employee of the posting.

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Tax Due Dates for December 2022

December 12 Employees who work for tips – If you received $20 or more in tips during November, report them to your employer. You can use Form 4070. December 15 Corporations – Deposit the fourth installment of estimated income tax …

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Tax Due Dates for November 2022

During November Employers – Income Tax Withholding. Ask employees whose withholding allowances will be different in 2023 to fill out a new Form W-4. The 2023 revision of Form W-4 will be available on the IRS website by mid-December. November …

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RUSSO CPA Blog: Standard vs. itemized deductions

Extension Deadline Looming for 2021 Tax Returns

Time is running short for taxpayers who requested an extra six months to file their 2021 tax return. As a reminder, Monday, October 17, 2022, is the extension deadline for most taxpayers. Taxpayers are encouraged to file a complete and accurate return electronically as early as possible once they have gathered all their information. There’s no need to wait until the October deadline.

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Russo CPA Tax Tips: Excise Taxes and your business

June 15 Deadline for Taxpayers Living Abroad

If you live or work outside the United States, you generally must file and pay your tax the same way as people living in the U.S. This includes people with dual citizenship. People who live and work abroad have until June 15, 2022, to file their 2021 federal income tax return and pay any tax due. An automatic two-month deadline extension is normally granted for those overseas. If you’re a taxpayer with foreign income, here’s what you should know about reporting foreign income:

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Estimated Tax Payments: The Facts

Estimated tax is the method used to pay tax on income that is not subject to withholding, including income from self-employment, interest, dividends, alimony, rent, and gains from the sale of assets, prizes, and awards. You also may have to pay estimated tax if the amount of income tax being withheld from your salary, pension, or other income is not enough.

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Tax Tips Image: Neatly stacked pennies in an ascending line. Russo CPA Tax Tips 2023

File on Time Even if You Can’t Pay

Generally, taxpayers should file their tax returns by the deadline even if they cannot pay the total amount due, but if you can’t, there are several options. Let’s take a look at a few scenarios:

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