Tax Refunds & Advice

The big deadline for 2009 is here and gone. April 15 was the deadline for filing individual tax returns. That being said, there are more important dates to come. You need to know what they are.

June 15, 2009: 1. Second quarter estimated tax payments are due. 2. Deadline for United States citizens living abroad to file a return or request an extension.

September 15, 2009: 1. Third quarter estimated tax payments are due. 2. If you filed a corporate tax extension this if the final deadline. 3. Deadline to file a trust tax return if on an extension. 4. Partnership tax return deadline if on an extension.

October 15, 2009: 1. For those who filed an extension this is the deadline to file individual tax returns.

December 31, 2009: This is the last day of 2009. If you need to do anything to change your tax situation for 2009 this is your deadline. Also, your marital status on this day will determine how you file your tax return.

These are some of the most important tax deadlines remaining in 2009. Do any of them apply to you? Or are you set until early 2010 when you will start work on your 2009 return?

Believe it or not, every year many Americans forget to file their tax return by April 15. For whatever reason they believe this is not a big deal, or simply overlook the fact that they have to get their return off to the IRS by this date. Is this something that you are worried about right now? If so, there is no reason to panic just yet. Just because you didn’t file your return by the deadline it doesn’t mean the IRS is coming after you. But you do need to make the right changes to ensure that you get things taken care of.

The most important thing to remember is that you need to move fast. Penalties begin to add up when you have a balance that is due and not paid by April 15. So with each day that goes by you are going to find your liability growing. Is this something that you want to deal with? Probably not. For this reason, you need to get your tax return completed and sent to the IRS along with any money that you may owe. If you are due a refund, your situation is not nearly as complicated but you still need to file a return.

The best advice is simple: file your return as soon as possible no matter what it takes. This may mean hiring a professional, using tax software, or spending a day on this task yourself. Waiting any longer is not going to work in your favor.

If you missed the April 15 deadline now is the time to get on the ball. You are not going to jail, but you may find yourself swimming in penalties soon enough if you do not act fast.
 

Do you know when tax deadlines are on the horizon? Better yet, do you know which ones will affect you? If not, you are making a huge mistake. There is a very good chance that you have to pay taxes, file returns, etc. And if you don’t know when each tax deadline is you are going to find yourself in a bad spot. It is very important that you never miss a deadline, and that you always have enough time to get organized.

The best way to keep an eye on tax deadlines is to find out when they are for the upcoming year and then mark the dates on your calendar. For instance, your final return will be due on April 15 most years. This is a date that you should have marked on your calendar year in and year out. To go along with this, you may also want to add a reminder a few months in advance. For instance, mark the due date but also a reminder two to three months in advance. After all, you don’t want to remember a deadline when it is only a day or two away.

Many people don’t take tax deadlines seriously; this is a mistake. Even though you can ask for an extension, or even pay late, this is not something you should get into the habit of doing. This is especially true if you are late because you forgot about a deadline.

Overall, you need to know each and every tax deadline and how it effects you. If you know that you have something due on a certain date be sure to make this on your calendar at the start of the year.