You should have your W-2 form in your hands by now (if you don’t, it’s time to take action NOW!). However, many people wait until the very last minute to fill them out and file them – and that’s not a smart thing to do.
You must file your 2016 tax returns by April 18, 2017. Yes, tax day is supposed to be April 15 of each year, but if it falls on a weekend, tax day is moved to the following Monday. However, Washington D.C. celebrates Emancipation Day that following Monday, so tax day this year is Tuesday, April 18. You have three extra days than if it was on the official tax day!
There are also important forms you need to file by April 18 in addition to the W-2 form.
You must file your individual tax returns by this date at midnight. For this you’ll need either form 1040 (offers more tax breaks than the other forms here listed), 1040A (for those who have a taxable income of $100,000 or less and claiming a standard deduction instead of itemized deductions), or 1040EZ (for individuals or married couple filing jointly with taxable income of $100,000 or less and without a dependent) and pay any due taxes.
You must also file for an extension if you need one by April 18. This might be for whatever reason and can be done online here. The extension is for up to 6 months, so your new deadline would be October 16, 2017.
If you’re self-employed, you must file your estimated taxes on April 18, June 15, September 15, and January 17 this fiscal year.
April 18 is also the last day to make 2016 IRA contributions, be it for traditional IRAs, Roth IRAs, or Health Savings Accounts.
Any other tax deadline-related questions, don’t hesitate to contact us!