I recently watched a TED Talks video, Inside the Mind of a Master Procrastinator by Tim Urban. Procrastinators have this Instant Gratification Monkey in their mind that makes them easily distracted by everything else except for what actually needs to be done, and the only thing the Monkey is afraid of is the Panic Monster which only comes out when a deadline is involved. So, for those of you who need a deadline to wake up the Panic Monster, below is a list of the usual IRS deadlines and their exceptions for this year. For a reference you can download this one-page pdf with the main federal income tax filing deadlines in 2022. Spoiler alert – the tax deadline for your personal return is Monday, April 18th!
S-Corps and Partnerships
The deadline for filing S-Corps and Partnerships is March 15. It’s also the last date to file an extension for these types of business returns.
The extension gives you an extra 6 months so the final date to file your business return is September 15.
Personal and C-Corps
Usually, the last day to either file the return or file for an extension is April 15. However, because Washington DC celebrates Emancipation Day, which happens to fall on the 15th this year, the deadline for these returns has been extended to Monday, April 18.
The final tax deadline if you file an extension will be October 17 because the 15th is a Saturday.
This tax deadline depends on the state you are filing in.
Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming do not file state income tax.
Maine and Massachusetts would usually be the same deadline as the Federal personal return, April 15, which was extended to April 18 this year due to Emancipation Day. However, these 2 states also celebrate Patriots’ Day on April 18, so their state filing deadline is April 19.
Iowa’s state deadline is April 30, even though it lands on a Saturday.
Delaware’s usual deadline is also April 30 but because it is on a Saturday this year, the deadline has been extended to May 2.
Virginia’s usual tax deadline is May 1, but because it falls on a Sunday this year, the deadline is May 2.
If you reside in any of the other 36 states your state income tax filing deadline is the same as the federal deadline, which this year happens to be April 18.
Estimated Quarterly Payments
First quarter is due April 15, normally, but extended to April 18 this year. I know this may sound completely ludicrous because if you haven’t filed your personal return yet you don’t have enough information to estimate, but the IRS is stupid and that’s why we don’t like them.
Second quarter is due June 15.
Third quarter is due September 15.
Fourth quarter is due the following January 15, which lands on a Sunday next year so the deadline for this payment will actually be January 17.
The last day to make any contributions to your IRA account is always the same day as the federal return deadline, this year being April 18. Extensions do not apply to any kind of IRA.
If you would like to contribute to a Keogh or SEP and you filed an extension for your personal return you just need to make that contribution by the October 17th deadline.
I’m not going to give you the deadline dates for payroll taxes. Trust me, I’m doing you a favor. Please use a professional for your payroll taxes. There are several ways that payroll taxes can be messed up and if they are done incorrectly the penalties can be quite severe.
We offer payroll services, or you can work directly with a professional payroll company, but we definitely recommend using a professional. Payroll companies such as ADP take the payroll taxes out for you, so you’re not burdened with the stress and you know it’s done right.
It’s important to note that when you file for an extension, the extension gives you more time to file the return, it does not give you more time to pay if you owe.
I realize this makes absolutely no sense because if you haven’t completed your returns by April 18 then how do you know if you owe anything, and even if you think you will owe, how do you know how much? If you have completed your return and you do know exactly how much you need to pay, then you wouldn’t have needed to file for an extension in the first place!
The worst thing you can do is not file your taxes. It doesn’t matter if you still don’t have all your documents ready or you haven’t filed in a couple years or you don’t have the money to pay it all, we’ve experienced it all and there are options to help whatever your situation may be. Let’s use the tax deadline as motivation to get things done and improve instead of a stress trigger.
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