Life is full of deadlines. From monthly bills to project due dates, one’s calendar can fill up fast. And it seems that no matter our organizing genius or planner mentality, some important dates can get forgotten. However, when it comes to your taxes, these are the due dates you won’t want to miss. After all, there’s nothing more frustrating than having to pay an avoidable late fee. That’s why in this article, we will discuss the important dates you’ll need to keep in mind this tax season!
How to send in your taxes:
First, as tax season is officially upon us, we’d like to go over your options for filing your taxes. And once you know which dates apply specifically to you, you can begin to create your plan of action.
Ways to fill out your taxes:
- You can file your taxes manually and send them in via snail mail. If you like to do things the old fashion way, this is the option for you. You will need to fill out a form called 1040, provided by the IRS, according to its instructions. Then, you will simply send in the form with the amount you owe to the IRS. Your return will be considered on time if it is correctly addressed, has a sufficient amount of postage, and is in the main before your filing-day deadline.
- If you’re more tech-savvy, e-filing your taxes is an excellent option. You can use tax software programs or online services like TurboTax or H&R Block to help guide you through the filing steps. These services will walk you through a series of questions about your income and any potential deductions. Next, it will assist you in digitally filing your 1040. Simply get this done by midnight of your tax day, and you’ll be on time!
- Finally, you also have the option to hire a professional to do this tedious task for you. A bookkeeping and financial service agency will work with you to maximize your refund as they fill out your tax return on your behalf. This is where we at Prospect Financial Solutions come in. If you’d prefer to hand over your tax filing responsibilities to an expert, make sure to reach out for our assistance.
Important tax deadlines:
April 15 is the famous tax day for which we all anticipate at the start of each new year. This is the day on which personal federal tax returns and corporate tax returns are due. You can also plan to file your first estimated tax payment and most of your state tax returns on this day. For the general population, it is this day that matters most. So, to avoid a fee, remember this day and get your taxes filed before midnight on April 15.
If you’re self-employed:
For those who are self-employed, you will pay your taxes a bit differently. Rather than paying just once, you will likely pay taxes in four sums throughout the year. These estimated tax payments’ due dates are April 15, June 17, September 16, and January 15.
2020 tax extension due date:
For individuals and businesses, you can file for an extension up until tax day. The last day for S corps and partnerships to file for an extension is on March 16. And the last day for C corps is April 15.
As you juggle life’s incessant stream of due dates and deadlines, filing your taxes may seem like a daunting task. That’s why we at Prospect Financial Solutions are here for you! We’ll ensure that your taxes are filed with complete accuracy and the greatest potential for your maximum refund. Reach out today and enjoy a stress-free tax season!