Knowing when and what you have to file can save you a lot of headaches at tax time. To avoid paying penalties, mark your calendar with the following important tax deadlines.
| January 15 | 4th Quarter Estimated Tax Payment Due If you are self-employed or have other fourth-quarter income that requires you to pay quarterly estimated taxes, get them postmarked by January 15. |
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| April 15 | Individual Tax Returns Due for Tax Year If you haven’t applied for an extension, e-file or postmark your individual tax returns by midnight April 15. |
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Individual Tax Return Extension Form Due for Tax Year Need more time to prepare your tax return? File your request for a tax extension by April 15 to push your deadline back to October 15. |
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1st Quarter6 Estimated Tax Payment Due If you are self-employed or have other first-quarter income that requires you to pay quarterly estimated taxes, get your Form 1040-ES postmarked by April 15, |
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Last Day to make a 2014 IRA Contribution If you haven’t already funded your retirement account for the year, do so by April 15. That’s the deadline for a contribution to a traditional IRA, deductible or not, and a Roth IRA. However, if you have a Keogh or SEP and you get a filing extension to October 15, you can wait until then to put 2014 money into those accounts. |
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| June 15 | 2nd Quarter Estimated Tax Payment Due If you are self-employed or have other second-quarter income that requires you to pay quarterly estimated taxes, make sure your payment is postmarked by June 15. |
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| September 15 | 3rd Quarter Estimated Tax Payment Due If you are self-employed or have other third-quarter income that requires you to pay quarterly estimated taxes, make sure your third quarter payment is postmarked by Sept. 15. |
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| October 15 | Extended Individual Tax Returns Due If you got a filing extension on your 2014 tax return, you need to get it completed and postmarked by October 15, 2015. |
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Last Chance to Recharacterize Roth IRA Conversion If you converted a traditional IRA to a Roth during the tax year and paid tax on the conversion with your return, October 15 is the deadline for recharacterizing (undoing) the conversion. Doing so could save you money if the IRA has lost money since the time of the original conversion. |
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| January 15 | 4th Quarter Estimated Tax Payment Due If you are self-employed or have other fourth-quarter income that requires you to pay quarterly estimated taxes, get them postmarked by January 15. |
