Tax Deadlines and Explanations April 18, 2016

April 18

Individuals: File a 2015 income tax return (Form 1040, 1040A, or 1040EZ) and pay any tax due. If you want to request an automatic 6-month extension of time to file your return, use Form 4868 (Application for Automatic Extension of Time to File U.S. Individual Income Tax Return) to extend your filing deadline to October 17, 2016. You can also have us file a tax extension for you.

Individuals: If you are not paying your 2016 income tax through withholding (or you will not pay enough tax during the year that way), pay the first installment of your 2016 estimated tax. Use Form 1040-ES (Estimated Tax for Individuals). For more information, see IRS Publication 505 (Tax Withholding and Estimated Tax).

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Household Employers: If you paid cash wages of $1,900 or more to a household employee in 2015, you must file Schedule H (Household Employment Taxes) of Form 1040. If you are required to file a Federal income tax return (Form 1040), include Schedule H with your return and report any household employment taxes. If you paid total cash wages of $1,000 or more to household employees in any calendar quarter of 2014 or 2015, you must report any Federal Unemployment (FUTA) tax on Schedule H. Also report any income tax you withheld for your household employees. For more information, refer to IRS Publication 926.

Partnerships: File a 2015 tax return (Form 1065). Provide each partner with a copy of Schedule K-1 (Partner’s Share of Income, Deductions, Credits, etc.) of Form 1065, or a substitute Schedule K-1. If you want to request an automatic 5-month extension of time to file the return and provide Schedules K-1, use Form 7004 to extend your filing deadlines to September 15, 2016. You can file Form 7004 online.

Electing Large Partnerships: File a 2015 tax return (Form 1065-B). See March 15 for the deadline for providing Schedules K-1, or substitute Schedules K-1, to the partners. If you want to request an automatic 6-month extension of time to file the return and provide each partner with a copy of their amended (if required) Schedule K-1, use Form 7004 to move your filing deadlines to October 17, 2016.

Corporations: Deposit the first installment payment for 2016 estimated income tax. Form 1120-W (Estimated Tax for Corporations) is a worksheet that can be used to estimate your tax for the year.