Oct. 1: Boo! Welcome to the scariest month of the year.
Screenshot from GIPHY In addition to Halloween goblins, ghouls and hundreds of kids descending on your neighborhood at the end of this month, one of the scariest October items is that countdown clock a little higher up in this column. It's a stark reminder for millions of ultimate
procrastinators — No, I'm not one this year. Amazing, I know! — that their deadline to file extended 2018 tax returns is nearly over. Don't worry. I'll remind you again as Oct. 15 nears.
But why push the deadline?
Gather all the
documents you need to file your Form 1040, including 1099s and receipts associated with your
self-employment income, be it full-time or side hustle earnings. This
tax preparation checklist can help.
Oct. 4: OK. You're ready to finally file that Form 1040 before the 15th. Great! Now make sure you don't overspend to do so. Check out
Free File.
This IRS-tax software industry partnership program that provides no-cost return prep and
e-filing option is open for business through the October extension deadline for taxpayers whose income is $66,000 or less.
Oct. 10: If your job compensation includes
tips and you received $20 or more in gratuities in September, use
Form 4070 to report them today to your employer.
Oct. 14: So another week slipped by without you filing your taxes. No judging here. I've been there. The good news this year is that today is the federal Columbus Day holiday or, in many states and cities, now designated
Indigenous People's Day. If you don't have to head into the office, it's a great chance to work on your taxes. The IRS has some
final filing tips.
Oct. 15: It's here! The absolutely, positively final filing deadline for your 2018 return. Get your Form 1040 — remember, there's now
just one tax return under the Tax Cuts and Jobs Act (TCJA) changes — en route to the IRS today or you'll face
penalty and interest charges.
E-filers, whether using the previously mentioned Free File or a paid-for tax software package, technically have until midnight their time to hit "enter" on their computer keyboard. But I suggest you don't push that deadline. A late technical problem could turn into a costly late-filing issue.
If instead you're sending in an old-fashioned
paper return, check with your post office to make sure the envelope is postmarked today, the paper filing proof of timely tax filing.
Oct. 21: Now that your 2018 return is finally done, it's time to work on reducing your 2019 tax bill. By now, you're probably familiar with how the TCJA changed your tax filing and planning. But it never hurts to review your prior year's tax return, whether you just filed it last week or earlier in the year. It's a good foundation to look at what tax breaks you qualified for might be able to use again on this year's taxes.
Note, too, that inflation has upped many tax-related actions. The income tax earnings
brackets have been expanded a bit. So have the
standard deduction amounts.
And definitely look at how much you can put this year into tax-favored
retirement savings and
medical accounts. Not only can they help lower current tax bills, they could pay off in the future.
Finally, peruse the Taxpayer Advocate Service's
Taxpayer Roadmap.
This publication, designed along the lines of a subway map, shows the
stages of a taxpayer's journey through our elaborate tax system.
Oct. 25: Those retirement and medical accounts also are part of many workplace benefit plans. Since October is the start of the annual benefits enrollment open season at lots of companies across the country, it's a good time to carefully review those employer-provided perks, such as 401(k) plans and flexible spending accounts (FSAs) for both
health and child care purposes, to make sure you make the most of your options.
Oct. 28: With more than two months left in 2019, now's is the perfect time to set up your tax deduction
bunching strategy. Here you gather potential write-offs together into one tax year to ensure you have enough qualified expenses to meet some of the popular deduction thresholds. This typically covers the itemized deductions for medical, home-related and charitable deductions.
Oct. 31: What's scarier than the ghouls and goblins wandering your neighborhood tonight? Another month of the
hurricane season.
We've been lucky so far, with only Hurricane Dorian along the eastern seaboard and
Tropical Storm Imelda in Texas causing major damages. But with a month officially left, we
can't let down our storm guards.
The countdown clock below can help you track the days until the formal Nov. 30 end of the annual hurricane season.
You also can find tips on getting ready, physically and financially, for hurricanes, as well as tax help for recovery efforts and tax deductions for donations to those who are hit by natural disasters at the ol' blog's
Storm Warnings pages.
Small Business Tax Calendar: Important
filing, deposit and record keeping dates throughout the year that your company needs to know. You can get more tax calendar information at the IRS'
online calendar page and view the full year's important business and individual tax dates in
IRS Pub. 509.
Same thing is happening to us. We filed on Feb 14th. The Wheres my refund site said we should get our refund by 3/11 then 3/16. Then we got 2 different reference numbers to contact customer service. They first said it had to do with the homebuyer credit, then we called and the told us somebody accidentally entered my social instead of my husbands when inputing the info in the system, so then had to wait another 6-8 weeks after it was fixed. Then we had a date of 4/5, which is today. We called today and they first said they were waiting on an amendment to match up with our original return. Called them back again stating we didnt file an amendment and the next rep told us that they recieved all the paperwork and is now ready to process and it should be another 3-5 weeks!! Ugh!!!
Posted by: Kristina | Tuesday, April 05, 2011 at 05:18 PM
I was supposed to get my refund on 3/11 and ofcourse it did not happen. The on 3/16, I had within a few hour period, three codes on WMR: a 1481, a 1206 and 8002. I called the IRS and they said that everything was prcessed and worked out and I should receive my refund within a couple of weeks. Next day WMR gave me a date of 4/5/11 to receive it. Guess what, that day is today; hoever, I now have a code of 8002 on WMR and no date. I called the IRS and they said it was still be processed (apparently that was not done like the last IRS rep told me last onth). Now they say it could be a coupl of more weeks. Does anyone know what in the workd is going on???
Posted by: pwhite | Tuesday, April 05, 2011 at 08:58 AM
Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that's an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. But given the freedom, stability, and security of owning your own home, they are worth it.
Posted by: firsthome | Monday, March 28, 2011 at 08:16 PM
Wait 30 days is the standard response. They had no information as to when I would actually get the refund. This is frustrating because we rely on that money to catch up from winter season when my husband works no overtime. Just frustrating!
Posted by: Crystal | Sunday, March 27, 2011 at 10:41 AM
I Just got off the Phone and was told I wouldn't get mine till the end of April.
Posted by: Steve Ledridge | Thursday, March 24, 2011 at 07:18 PM