By Mark Castro, CPA
Below are the filing deadlines for tax returns and when estimated tax payments are due.
This is the deadline for making the 4th 2021 individual estimated tax payment.
This is the employer deadline for filing Forms W-2 and W-3 with the Social Security Administration.
This is the deadline for businesses that paid at least $600 in nonemployee compensation to an independent contractor to file Form 1099-NEC with the IRS and send to recipients.
January 31, 2022 is the deadline for sending Form 1099-MISC to recipients.
This is the deadline for sending paper Form 1099-MISC Copy A to the IRS
This is the filing deadline for calendar year for the following:
This is the deadline for e-filing Form 1099-MISC Copy A to the IRS
The federal filing deadline for 2021 individual tax returns is Monday, April 18, 2021. It is also the filing deadline for calendar year C Corporations (1120) and Estate/Trust (1041) returns.
For e-filed returns that are rejected on April 18, 2022, the return will be considered timely filed if it is retransmitted and accepted by April 23, 2022.
If an individual needs more time to complete their 2021 federal tax return, they can request an extension until October 17, 2022 by filing Form 4868 (Application for Automatic Extension of Time to File US Individual Income Tax Return). An extension is for time to file the return not to pay any tax due. If it is determined that the taxpayer may owe tax when they file their extension, they must include their payment with the extension.
April 18 is also the deadline for the following:
This is the deadline for making the first 2022 individual estimated payment.
This is the deadline for making the 2nd 2022 estimated payment for:
June 15, 2022 is also the filing deadline for filing Form 1040 for US citizens who were out of the country on April 15.
This is the deadline for making the 3rd 2022 estimated tax payment for:
This is the extended filing deadline for:
This is the Extended Filing deadline for:
This is the deadline for making 4th 2022 estimated payment for C Corporations.
This is the deadline for setting up a solo 401(k) for 2022.
This is the deadline for making the 4th 2022 individual estimated tax payment.
Tax Day refers to the initial date when individual income tax returns are due.
For federal individual income returns, this date is April 15, 2022.
If an individual misses a filing deadline, they should file their return as soon as they can after the deadline.
If their 2021 federal individual tax return shows that the individual will receive a refund, then they have until October 17, 2022 to file their return because each individual is automatically granted a 6-month extension to file their return.
If their 2021 federal individual tax return shows that they will owe tax, they should file the return as soon as possible. They will owe penalty and interest on any amount that is paid after April 18, 2022.
If an individual cannot pay the full amount of the tax they owe on their 2022 Form 1040, they can ask for one of the following:
Under an installment agreement, an individual can pay all or part of the tax they owe in monthly installments. With an installment agreement, the individual will have to pay interest, pay a fee to set one up, and may be charged a late payment penalty on the amount of tax not paid by April 18, 2022.
An individual may apply for an installment agreement online or by filing Form 9465.
See the Apply for an Online Payment Plan on the IRS website for more details on the installment agreement process.
If the reason an individual cannot pay the full amount of tax they owe is because it will cause them undue hardship, they can ask for an extension of time to pay. They can do this by filing Form 1127 by April 18, 2022 (the original due date of the return).
If an extension is granted it will generally not be for more than 6 months. The individual will be charged interest and any penalties and interest will be imposed until the unpaid taxes are paid in full.
The fastest way for an individual to file their individual income tax return is via e-file.
If an individual needs to re-file their federal income tax return because they need to correct their originally filed return, they will need to complete Form 1040-X (Amended Individual Income Tax Return) either via e-file or mail.
See the IRS Form 1040-X Frequently Asked Questions for more information on filing a federal amended return.
If an individual needs additional time to prepare their individual Form 1040, they can file Form 4868 (Application for Automatic Extension to File U.S. Individual Income Tax Return) by April 18, 2022. Filing an extension will give the individual until October 17, 2022 to file their tax return.
Filing Form 4868 grants the taxpayer an extension of time to file their return. It does not grant them an extension to pay any tax they may owe on April 18, 2022. If the taxpayer believes they will owe tax on their 2021 return, they must pay it with their extension request by April 18, 2022.
IRS issues most refunds in less than 21 days. This is provided the individual’s return does not require additional review.
See IRS Tax Season Refund Frequently Asked Questions for more information on the timing of refunds.