Important Tax Dates
We’ve just come through the busy holiday season and are starting to wind down and settle in for the last few months of winter. But before we get caught up in the whirlwind of Valentine’s Day, spring break, Mardi Gras, and St. Patrick’s Day, let’s talk about some dates that may not be on your radar. So grab your cup of hot chocolate and a seat by the fire – I promise this will be short.
January 28: IRS officially opens tax season
That’s right… we may or may not have received necessary guidance for filing certain returns and we may not be able to get assistance from the IRS but, like the Grinch failing to stop Christmas, no government shutdown will stop this day from coming. As of January 28, the IRS will begin accepting paper and electronically filed tax returns. They also assure us that refund processing will not be delayed and will function as “normal”. Our advice: file and be prepared to wait patiently for your refund.
January 31: Deadline for mailing (not receiving) tax documents
Even though you can file your return on January 28, be warned that you may not have received all of the necessary documents. Employers, banks, and other payors have until January 31 to mail tax forms out. Investment brokerage firms have even longer, in most cases. Forgot about that retirement plan you rolled over last January? Or that Certificate of Deposit you cashed in and collected the interest? If you file your return without including these pieces of information, taxable or not, you will need to file an amendment. Anyone remember the mortgage insurance debacle of February 2018? Due to late tax law changes, a deduction was brought back into the Tax Code after many taxpayers had filed their returns. Banks had to reissue tax forms and amendments had to be filed. Sometimes it pays to wait.
March 1: Partnership, Corporate tax documents due to our office for timely filing
Due to the heavy work load we experience this time of year, it is important that we have your information in-hand well before the deadline. Please note our office hours, below, as well as the section regarding extensions.
March 15: Partnership, Corporate returns due / 2019 S-Corporation elections due
This is a hard-and-fast deadline falling on a no-holiday Friday. These types of returns must be filed by midnight and, in the case of Vermont entities, the flat fee paid. If you need an extension of time to file (until September), be sure to request one before this date – see the section regarding extensions. Want to elect into S-Corporation status for the 2019 tax year? We’ll need to have that conversation and file the necessary documents by this date.
March 23: Individual tax documents due to our office for timely filing
Due to the heavy work load we experience this time of year, it is important that we have your information in-hand well before the deadline. Please note our office hours, below, as well as the section regarding extensions.
April 15/17: Deadline for filing a timely return or extension / paying any tax due
For most of the country, the tax deadline is Monday, April 15th. If you live in Maine or Massachusetts, however, you have a bit longer. These two states celebrate Patriot’s Day, which also falls on Monday, April 15th, so there would ordinarily be a deadline push to the next business day, or Tuesday, April 16th. However, Tuesday, April 16th is Emancipation Day, which is a holiday in Washington DC and affects the federal government, so the deadline is pushed further to Wednesday, April 17th. If our office is preparing your tax return and you are a resident of Maine or Massachusetts, our plan is to have your return or extension completed by April 15th.
Speaking of extensions…
Should you feel the need to gain some extra filing time, or you haven’t met our deadline for document submission, we will file extensions on your behalf. (Tip: we will not automatically file extensions unless one has been requested or tax documents have arrived at our office prior to the filing deadline.) Bear in mind that extensions will only extend the time to file a return and will not extend the time to pay taxes. If you anticipate having a tax due and do not send the money with your extension, you will likely be subject to interest and penalty charges when the actual return is filed. If you normally make quarterly estimated tax payments, you will still need to make your first payment for 2019 by 4/15.
Office Hours
Our official office hours are below. Please call ahead if we’ve experienced inclement weather or to see if we’ll be open later on a certain day. Often times we are here late in the evening.
Monday: 7:30-5:00
Tuesday: 7:30-5:00
Wednesday: 7:30-5:00
Thursday: 7:30-5:00
Friday: 7:30-4:00
Saturday: 7:30-3:00
Sunday: CLOSED
We look forward to a successful tax season with you. Be sure to contact us with any questions, address changes, or to book an appointment. A reminder to visit the Client Center on our website, www.angolanoandcompany.com, to make/change appointments or pay an invoice. Also, check out our Facebook page for Tax Tips and current postings on tax and business-related news.