March 30, 2016

Got Tax? 2015 Form 1040 Tax Returns (or extensions) due this year on Monday, April 18, 2016.

Aw yes, 2015 Tax Day for Individual Income Taxpayers is rapidly approaching.  But you all get a bit of extra time this year to get your 2015 taxes in order, until:

Monday, April 18, 2016

Prior year Federal, State, and Local Individual Income Tax Returns (including payment of any tax due) and the first estimated tax payment for the current year are typically due on April 15 (when April 15 falls on a weekday).  However, this year Friday, April 15 is also Emancipation Day, an official public holiday in the District of Columbia, which the IRS views as a "legal holiday".

So I guess we can all thank Washington, D.C. for an extra tax prep day this year.

Individual Income Taxpayers:  What you Need to Do
On or Before Monday, April 18, 2016

(1)  File your 2015 income tax return (Form 1040, 1040A, or 1040EZ) and pay any tax due; or
(2)  You may request an automatic 6-month extension of time to file your return.  File Form 4868 to extend your filing deadline to October 17, 2016 and pay any tax due to avoid interest and underpayment of tax penalties.
(3)  For those who pay estimated taxes, pay your first 2016 estimated tax payment.

For those of you who pay state and/or local individual income taxes, similar rules apply.  Please check with your taxing authorities to ensure they adopted April 18, 2016 as their tax due date.  It is standard procedures for state and local taxing authorities to follow federal tax due dates (for instance, California state taxing authorities follow federal due dates), but it is always possible there may be a taxing authority outlier that does not.

Have tax concerns?

I am an Enrolled Agent licensed by the Department of the Treasury which allows me to provide tax services to taxpayers in all 50 states and US territories. I provide tax services to individual income, business, estate, and trust clients.  Please contact me if you have questions about tax preparation, tax planning, or taxpayer representation (audit and collection) matters.  (Please note that I do not have consultation times available for new tax preparation and planning clients until after April 18, 2016.)

For information about my nationwide Consulting, Expert Witness, and Tax Services visit Fouts Financial Group.

Mary Rae Fouts

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