... owe tax. And sometimes it’s desirable to file a return even if it isn’t required. When filing is required Generally, you’ll need to file a gift tax return for 2016 if, during the tax year, you made ...
... 31, 2016, was just extended under the recently passed Bipartisan Budget Act of 2018: the tuition and fees deduction. But a couple of tax credits are also available. Tax credits can be especially valuable ...
Because of a weekend and a Washington, D.C., holiday, the 2016taxreturn filing deadline for individual taxpayers is Tuesday, April 18. The IRS considers a paper return that’s due April 18 to be timely ...
... your property tax payment. You can prepay (by December 31) property taxes that relate to 2016 but that are due in 2017, and deduct the payment on your return for this year. But you generally can’t prepay ...
The short answer is: none. You need to hold on to all of your 2015 tax records for now. But this is a great time to take a look at your records for previous tax years and determine what you can purge. ...
... a report examining two decades of taxreturns and titled “Is Gig Work Replacing Traditional Employment?” It found that “alternative, non-employee work arrangements” grew by 1.9% from 2000 to 2016 and more ...
... six-month extension: File a 2016 income taxreturn (Form 1120) and pay any tax, interest and penalties due. Make contributions for 2016 to certain employer-sponsored retirement plans. October ...
... Since 2016, the deduction has been annually indexed for inflation (though because of low inflation it hasn’t increased yet) and has included professional development expenses. Qualifying elementary and ...
... it extended only through 2016. The question now is whether Congress will extend them for 2017. An education break One break the PATH Act extended through 2016 was the above-the-line deduction for qualified ...
... to be enforced isn’t certain. The IRS has been accepting 2016taxreturns even if a taxpayer hasn’t completed the line indicating health coverage status. That said, the ACA is still the law, so compliance ...
... make estimated payments, those may need to be changed as well. Keep records accessible but safe. Put your 2016taxreturn and supporting records together in a place where you can easily find them if ...
... 2017 (Form 941), and pay any tax due. (See exception below.) File a 2016 calendar-year retirement plan report (Form 5500 or Form 5500-EZ) or request an extension. August 10 Report income tax ...
... check your withholding and/or estimated tax payments if: You received an especially large 2016 refund, You’ve gotten married or divorced or added a dependent, You’ve purchased a home, You’ve ...
... deadlines that apply to you. Please review our expanded Tax calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them. June 15 File a 2016 ...
Currently, home ownership comes with many tax-saving opportunities. Consider both deductions and exclusions when you’re filing your 2016return and tax planning for 2017: Property tax deduction. Property ...
... that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. April 18 If a calendar-year C corporation, file a 2016 income tax ...
Yes, there’s still time to make 2016 contributions to your IRA. The deadline for such contributions is April 18, 2017. If the contribution is deductible, it will lower your 2016 tax bill. But even if it ...
... in 2016, there likely isn’t any impact on your 2016 income taxreturn. But if in 2016 you exercised ISOs or you sold stock you’d acquired via exercising ISOs, then it could affect your 2016 tax liability. ...
... to those residing in states with no or low income taxes or who purchase major items, such as a car or boat. Your 2016 tax return How do you determine whether you can save more by deducting sales tax ...
... send your return to the IRS until October 16. But there’s another date you should keep in mind: January 23. That’s the date the IRS will begin accepting 2016 returns, and filing as close to that date ...