2018 Key Tax Deadlines for Individuals

Although we are coming to an end with the April 15th tax deadlines (actually was moved to April 18th this year due to IRS system issues). There are other key dates to keep in mind. Here is a list of general important tax-related forms, payments and other actions due. Please note that this list does not have all deadlines. Just the most commonly followed, so there may be other deadlines (not mentioned) that apply to you.

If you have any questions about meeting these dates below, contact our office at: info@capatacpa.com. We will make sure to help you file or make the correct payments due to avoid any penalty charges.

June 15th

  • If you are living outside of the United States, the 2017 individual income tax return (Form 1040) is due or filing for a four-month extension (Form 4868) is due.
  • Second installment of the 2018 estimated taxes is also due, if not paying income tax through withholding (Form 1040-ES).

September 17

  • Pay the third installment of 2018 estimated taxes, if not paying income tax through withholding (Form 1040-ES).

October 1

  • If you’re the trustee of a trust or the executor of an estate. File an income tax return for the 2017 calendar year (Form 1041) and pay any tax, interest and penalties due, if an automatic five-and-a-half month extension was filed.

October 15

  •  If you filed for an automatic six-month extension (or if an automatic four-month extension was filed by a taxpayer living outside the United States), file a 2017 income tax return (Form 1040, Form 1040A or Form 1040EZ) and pay any tax, interest and penalties due,
  • Make contributions for 2017 to certain retirement plans or establish a SEP for 2017, if an automatic six-month extension was filed.
  • File a 2017 gift tax return (Form 709) and pay any tax, interest and penalties due, if an automatic six-month extension was filed.

December 31

  • Make 2018 contributions to certain employer-sponsored retirement plans.
  • Make 2018 annual exclusion gifts (up to $15,000 per recipient).
  • Incur various expenses that potentially can be claimed as itemized deductions on your 2018 tax return. Examples include charitable donations, medical expenses and property tax payments.

Keep in mind that as a result of the Tax Cuts and Jobs Act. Some expenses used as deductions on your 2017 tax returns may not be deductible on your 2018 tax returns. Some of these deductions that were removed include: unreimbursed work-related expenses, certain professional fees, and investment expenses. In addition, some deductions will be subject to new limits. Also as a result of the doubled standard deductions, you may no longer benefit from itemizing deductions.

If you have any further questions on this years tax deadlines, contact us today!

CAPATA is a full-service accounting firm located in Laguna Niguel in southern California.

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