Tax Due Dates

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Tax Due Dates — January 2024

Upcoming Tax Due Dates January 16  Individuals: Pay the fourth installment of 2023 estimated taxes (Form 1040-ES) if not paying income tax through withholding or not paying sufficient income tax through withholding. Employers: Deposit Social Security, Medicare, and withheld income taxes for December 2023 …

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December 2023 Tax Due Dates

December 15 Corporations – Deposit the fourth installment of estimated income tax for 2023. A worksheet, Form 1120-W, is available to help you estimate your tax for the year. Employers – Social Security, Medicare, and withheld income tax. If the …

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November 2023 Tax Due Dates

Stay on top of tax deadlines! Here are the tax due dates for November 2023. As always, call us with any questions. November 15 Employers – Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit …

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Upcoming Tax Due Dates—October 2023

October 16 Individuals – Filing a 2022 income tax return (Form 1040 or Form 1040-SR) and paying any tax, interest and penalties due, if an automatic six-month extension was filed (or if an automatic four-month extension was filed by a …

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Tax Due Dates for September 2023

September 15

Individuals – Paying the third installment of 2023 estimated taxes, if not paying income tax through withholding (Form 1040-ES).

Calendar-Year Corporations – Paying the third installment of 2023 estimated income taxes.

Calendar-Year S Corporations – Filing a 2022 income tax return (Form 1120-S) and paying any tax, interest, and penalties due if an automatic six-month extension was filed.

Calendar-Year S Corporations – Making contributions for 2022 to certain employer-sponsored retirement plans if an automatic six-month extension was filed.

Calendar-Year Partnerships – Filing a 2022 income tax return (Form 1065 or Form 1065-B) if an automatic six-month extension was filed.

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What To Do if You Missed the Tax Deadline

Tuesday, April 18, 2023, was the deadline for most taxpayers to file their tax returns. If you haven’t filed a 2022 tax return yet, it’s not too late.

First, gather any information related to income and deductions for the tax years for which a return is required to be filed, then call the office. If you are owed money, the sooner you file, the sooner you will get your refund. If you owe taxes, file and pay as soon as you can, which will stop the interest and penalties you owe.

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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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