Important Dates

 

January 15

Individuals - Make a payment of your estimated tax for this year if you did not pay your income tax for the year through withholding (or did not pay in enough tax that way). Use Form 1040-ES. This is the final installment date for this year's estimated tax. 

 

Farmers - Pay your estimated tax for this year using Form 1040ES. You have until April 15 to file this year's income tax return (Form 1040). If you don't pay your estimated tax by January 15, you must file this year's return and pay any tax due by March 1 to avoid an estimated tax penalty.

Employers - Give your employees their copies of Form W-2 for the previous year. 

 

Employers - Give Form 1099 with annual information to recipients for certain payments made during the year.

 

March 1 

Farmers - File Form 1040 and pay any tax due. However, you have until April 15 to file if you paid your previous year estimated tax by January 15 of the current year.

 

March 15 

S Corporations - File Form 1120S and pay any tax due. Provide each shareholder with a copy of Schedule K-1 (Form 1120S), Shareholders Share of Income, Deductions, Credits, etc., If you want an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe.

Partnerships - File a previous calendar year return (Form 1065). Provide each partner with a copy of Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc.  If you want an automatic 6-month extension to file the return and provide Schedule K-1 , file Form 7004. Then file Form 1065 by September 15.

 

April 15  

Individuals - File an income tax return (Form 1040) and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. Then file Form 1040, 1040A, 1040EZ, or 709 by October 15.

Individuals - If you are not paying your current year income tax through withholding (or will not pay in enough tax during the year that way), pay the first installment of your current estimated tax. Use Form 1040-ES.

Trusts and Estates - File a previous calendar year return (Form 1041). Provide each beneficiary with a copy of Schedule K-1 (Form 1041), Beneficiary's Share of Income, Deductions, Credits, etc., or a substitute Schedule K-1. If you want an automatic 5 month extension to file the return and provide Schedule K-1 or a substitute Schedule K-1, file Form 7004. Then file Form 1041 by September 30.

 

Corporations - File Form 1120 or 1120-A and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe.

 

May 15   

Exempt Organizations - File a previous calendar year return (Form 990). If you want an automatic 6 month extension to file the return, file Form 8868. Then file Form 990 by November 15.

 

June 15  

Individuals - Make a payment of your current estimated tax if you are not paying your income tax for the year through withholding (or will not pay in enough tax that way). Use Form 1040-ES. This is the second installment date for estimated tax in current year.

 

September 15  

Individuals - Make a payment of your current year estimated tax if you are not paying your income tax for the year through withholding (or will not pay in enough tax that way). Use Form 1040-ES. This is the third installment date for estimated tax in the current year.

Taxpayers fall into one of seven brackets, depending on their taxable income: 10%, 12%, 22%, 24%, 32%, 35% or 37%. Because the U.S. tax system is a progressive one, as income rises, increasingly higher taxes are imposed. But those in the highest bracket don’t pay the highest rate on all their income. For example, for 2019 taxes, single individuals pay 37% only on income above $510,301 (above $612,350 for married filing jointly); the lower tax rates are levied at the income brackets below that amount, as shown in the table.

 

The table displays tax brackets according to filing status: single, married filing jointly or qualifying widower, head of household and married filing separately. The IRS makes inflation adjustments each year.

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