Tax Calendar

November-December 2015:
It’s time for 2015 year-end and 2016 tax planning. This is highly recommended if you have substantial increases in income or fewer deductions. Please call for an appointment.

December 31, 2015:

• This is the last day to pay deductible expenses for the 2015 return. This doesn’t apply to IRA, SEP or Keogh contributions, all of which can be made after December 31, 2015.
  
• This is the last day to set up a Keogh Retirement Account if you plan to make a 2015 contribution.
  
• This is the last day to take advantage of the IRA to charity direct rollover for taxpayers who are age 70.5 and over.

January 15, 2016:
The fourth quarter 2015 federal individual estimated tax payment is due unless the 2015 return is filed by January 31, 2016 and the entire balance due is paid with the return. Caution: Some states may have different filing dates for state estimated payments.

January 31, 2016:
This is the deadline for businesses to provide 1099s and W-2s to those people they paid during 2015. If you are a business owner and you paid $600 or more for the services of individuals (other than employees) during the year, you will need to provide 1099s to those workers by January 31, 2016. "Services" can mean everything from labor and professional fees to rents on property. In addition, in order to avoid a penalty, copies of 1099s need to be sent to the IRS by February 29, 2016. This firm can prepare these documents for you.

February 29, 2016:
This is the deadline for filing (sending) 1099s and W-2s to the government.

April 15, 2016:

• This is the deadline for individuals to file a 2015 federal income tax return or request an extension of time to file. Caution: Some states may have a different filing date for state income tax returns.
  
• The first installment of the 2016 federal individual estimated tax payment is due. Caution: Some states may have different filing dates for state estimated payments.
  
• The first installment of the 2016 defined benefit pension plan contributions is due.