As the holiday season approaches, 2019 draws to a close and with it the conclusion of another full calendar year for tax reporting purposes. With the new year now on the horizon, there are always going to be some important filing dates to keep in mind both as an individual or business owner. Understanding when and what tax filings are due is critically important to ensure you do not become subject to any penalties or interest for not submitting the appropriate paperwork and payments in a timely manner.
Keeping up with these dates can often be a trying process. Depending on the year in question, typical filing dates - like the April 15 tax deadline for filing individual and joint returns can fluctuate. Fortunately, this is not the case during the 2020 year as many of the regular filing dates lineup as expected. The first deadline of next calendar year is actually a carry-over from the quarterly reports of a year prior. A regular occurence, understanding and being aware of tax filing deadlines can help to ease the stress associated with completing a return.
January 15, 2020
Quarterly tax payments are due on this date for the final quarter of the preceding year. In this instance, those who are responsible for making 2019 fourth-quarter estimates would need to file. Often the case for self-employed persons, others who make estimated tax payments will also need to mark this date on their calendar.
April 15, 2020
The one everyone should recognize, tax day in 2020 falls on the noticeable April 15 date. Individuals filing a joint or single return will need to either complete their returns and submit payment or request an extension by this date. Remember, even if you’re filing for an extension, should you owe, the money is still due to the Internal Revenue Service (IRS) by this date. In addition, first-quarter estimated payments for the 2020 tax year are due at this time.
June 15, 2020
Second-quarter estimated tax payments are due for those to whom it applies.
September 15, 2020
Third-quarter estimated tax payments are due for those to whom it applies.
October 15, 2020
If an extension was filed previous to the original April 15 deadline, then this date represents the day to which that is applicable. There are tax extension pros and cons, but if you benefit from doing so, then submitting the paperwork by this time period will eliminate the application of any penalties due to a late filing - provided an original extension was filed in the spring.
(Fourth-quarter estimated tax filings will be due in January 2021)
If you need assistance keeping up with these dates, filing in general, or have endured some changes in the past year which could affect your filings, then let the tax and financial experts at Bloch Rothman and Associates assist you or your business today. In addition, they can also take care of multiple other issues dealing with paying or owing back taxes, required audits from other entities besides the IRS, or any other personal or corporate wealth management issues. Along with providing a quality tax service, our group can also complete tax returns or answer any other factors associated with financial issues or concerns you may have. Serving in Denver and all of the surrounding areas for 35 years, our firm has an extensive history in helping clients with any and all of their tax issues or dealings with the Internal Revenue Service. If you have questions about your personal, business, estate or any other filings, don’t hesitate to contact us today. Available for all of your tax needs and filings in Denver
, there are also a number of bookkeeping and payroll services offered to assist you and your business. We look forward to meeting you and serving whatever your needs may be soon!