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2016 IRS Tax Filing Due Dates

by: Anthony Parent   2016-01-06

 

Important 2016 IRS tax filing deadlines for domestic filers

Below you will find a schedule of all the 2016 IRS tax filing deadlines for domestic US taxpayers (both individuals and entities). If you are a US expatriate or looking for IRS deadlines for foreign entities, watch for a separate reference guide that will be published in the next few days.

 

January 15th

Estimated Taxes

Final installment of 2015 estimated tax (Form 1040-ES) by individuals unless income tax return is filed with final payment by February 1, 2016. Payment in full of estimated tax by farmers and fishermen unless income tax returns are filed by March 1, 2016.

Final installment of 2015 estimated tax (Form 1041-ES) by trusts, calendar-year estates, and certain residuary trusts in existence more than two years, unless Form 1041 is filed and taxes are paid in full by February 1, 2015.

 

February 1st

Employers' Taxes

Employers of non-agricultural and non-household employees file return on Form 941 for withheld income and FICA taxes in last quarter of 2015.

Employers of agricultural workers must file the annual Form 943 to report income and FICA taxes withheld on 2015 wages.

Employers must file Form 940, annual return of federal unemployment (FUTA) taxes for 2015.

Withholding

Employees' statements (Form W-2 and Form 1099-R) for amounts withheld in 2015 to be furnished by employer to employees.

Individuals

Individuals, other than farmers and fishermen, who owed, but did not pay, estimated tax on January 15th must file final 2015 income tax return and pay tax in full to avoid late payment penalty.

Trusts and Estates

Trusts, as well as estates and certain residuary trusts in existence more than two years, that owed but did not pay estimated tax on January 15th must file final 2015 income tax return and pay tax in full to avoid late payment penalty.

Information Returns

Annual statements must be furnished to recipients of: dividends and liquidating distributions (Form 1099-DIV); interest, including interest on bearer certificates of deposit (Form 1099-INT); patronage dividends (Form 1099-PATR); original issue discount (Form 1099-OID); certain government payments, including unemployment compensation and state and local tax refunds of $10 or more (Form 1099-G); royalty payments of $10 or more, rent or other business payments of $600 or more, prizes and awards of $600 or more, crop insurance proceeds of $600 or more, fishing boat proceeds, and medical and health care payments of $600 or more (Form 1099-MISC); debt canceled by certain financial entities including financial institutions, credit unions, and Federal Government agencies of $600 or more (Form 1099-C); distributions from retirement or profit-sharing plans, IRAs, SEPs, or insurance contracts (Form 1099-R); payments received from a third party settlement entity (Form 1099-K).

Business recipients of $600 or more of interest on any mortgage must furnish Form 1098 to payer.

Information called for on Form 8300 must be provided to each payer in a transaction of more than $10,000 in cash at any time during 2015. (Form 8300 must have been filed with the IRS by the 15th day after the date of the transaction.)

Partnerships must provide Form 8308 to the transferor and transferee in any exchange of a partnership interest that involved unrealized receivables or substantially appreciated inventory items.

Trustees or issuers of IRAs or SEPs must provide participants with a statement of the account's value.

 

February 16th

Individuals

Last day for filing Form W-4 by employees who wish to claim exemption from withholding of income tax for 2016.

Information Returns

Annual statements must be furnished to recipients of proceeds from broker and barter exchange transactions (Form 1099-B); proceeds from real estate transactions (Form 1099-S); broker payments in lieu of dividends or tax-exempt interest, and gross proceeds paid to an attorney (Form 1099-MISC).

 

March 1st

Information Returns

Annual 1099 series returns (together with transmittal Form 1096) for paper filings or, if filing electronically, by March 31, must be filed with the IRS to report payments to recipients who received Form 1099 on February 1st, as indicated above.

Business recipients of $600 or more of interest from an individual on any mortgage must file Form 1098 with the IRS (together with transmittal Form 1096) for paper filings or, if filing electronically, by March 31st.

Withholding

Form W-2 “A” copies for 2015 (together with transmittal Form W-3) must be filed with the Social Security Administration. If filing electronically, the due date is extended to March 31st.

Form W-2G and Form 1099-R for 2015 “A” copies (together with transmittal Form 1096) for paper filings or, if filing electronically, by March 31st, must be filed with the IRS.

Individuals

Last day for farmers and fishermen who owed, but did not pay, estimated tax on January 15th to file 2015 calendar-year income tax return and pay tax in full to avoid late payment penalty.

 

March 15th

Corporations

Due date of 2015 income tax returns (Form 1120) for calendar-year U.S. corporations or calendar-year foreign corporations with offices in the United States. Fiscal-year U.S. corporations and foreign corporations with a U.S. office must file by the 15th day of the 3rd month following the close of the tax year.

Last date for filing application (Form 7004) by calendar-year corporations for automatic six-month extension to file 2015 income tax return.

Form 5452 for reporting nontaxable corporate distributions made to shareholders during calendar year 2015 should be filed by calendar-year corporations with income tax return. Fiscal-year corporations file Form 5452 with income tax return for first fiscal year ending after calendar year in which distributions were made.

Calendar-year corporations' 2015 information return (Form 5471) with respect to foreign corporations. (Fiscal-year corporations file form with income tax return.)

Last date for a calendar-year corporation to file an amended income tax return (Form 1120X) for the calendar year 2012.

S Corporations

Due date of 2015 income tax returns for calendar-year S corporations (Form 1120S) and to provide each shareholder with a copy of Schedule K-1.

Last date for filing application (Form 7004) by S corporations for automatic six-month extension to file 2015 income tax return.

Last date for filing Form 2553 to elect to be treated as an S corporation beginning with calendar year 2016. The penalty for filing the election late is to postpone treatment as an S corporation until calendar year 2017.

Withholding

File returns on Form 1042 and Form 1042-S to report tax withheld at the source from nonresident aliens, foreign corporations, foreign partnerships and foreign fiduciaries of a trust or estate.

 

March 31st

Information Returns—Electronic Filing

Due date for filing Form 1099 series (for reporting certain payments) and Form 1098 (for reporting receipt of mortgage interest) with the IRS electronically.

Withholding—Electronic Filing

Last day for filing Form W-2 with the SSA or Form W-2G with the IRS if filing electronically.

 

April 18th*

*The later due date is due to the Emancipation Day Holiday in the District of Columbia closing all Federal offices. Taxpayers residing in Maine or Massachusetts have until April 19th due to the Patriots’ Day Holiday in those states.

Individuals

Income tax and self-employment tax returns of individuals for calendar year 2015 and income tax returns of calendar-year decedents who died in 2015 (Form 1040, Form 1040A, or Form 1040EZ). Fiscal-year individuals must file returns or requests for extension by the 15th day of the 4th month after the close of the tax year.

Last day for calendar-year individuals to file application (Form 4868) for automatic six-month extension to file 2015 income tax return.

Individuals' information returns (Form 5471) with respect to foreign corporations to be filed with Form 1040.

Last day for individuals to file amended income tax returns (Form 1040X) for the calendar year 2012.

Estimated Tax

Calendar-year corporations pay first installment of 2016 estimated income taxes. Fiscal-year corporations are to make payments on the 15th day of the 4th, 6th, 9th, and 12th months of the tax year.

Payment of first installment of 2016 estimated income taxes (Form 1040-ES) by calendar-year individuals, other than farmers and fishermen. Estimated tax payments for fiscal-year individuals are due on the 15th day of the 4th, 6th, and 9th months of the tax year and the 1st month of the following tax year.

Trusts and calendar-year estates and certain residuary trusts in existence more than two years must make first payment of estimated taxes for 2016 ( Form 1041-ES). Fiscal-year estates must make payments on the 15th day of the 4th, 6th, and 9th months of the fiscal year and the 1st month of the following fiscal year.

Trusts and Estates

Fiduciary income tax return ( Form 1041) for calendar year 2014. Fiscal-year estates must file by the 15th day of the 4th month following close of the tax year.

Last day for calendar year estates and trusts to file application (Form 7004) for automatic five-month extension of time to file 2015 income tax return.

Last day for estates and trusts to file amended tax returns for calendar year 2012.

Partnerships

Last day for filing income tax return (Form 1065) for calendar year 2015. Returns for fiscal-year partnerships are due on the 15th day of the 4th month after the close of the tax year.

Last day for calendar-year U.S. partnerships to file application (Form 7004) for automatic five-month extension to file 2015 income tax return.

Last day for calendar-year partnerships to file an amended return for 2012.

Information Returns

Annual information return (Form 1041-A) for split-interest trusts and complex trusts claiming charitable deductions under Code Sec. 642(c) and annual information return (Form 5227) for charitable remainder trusts, pooled income funds, and Code Sec. 4947(a)(2) trusts must be filed.

 

May 2nd

Employers' Taxes

Employers of non-agricultural and non-household employees must file return on Form 941 to report income tax withholding and FICA taxes for the first quarter of 2016.

 

May 16th

Exempt Organizations

Annual information return (Form 990) for 2015 by calendar-year organizations exempt or claiming exemption from tax under Code Sec. 501 or Code Sec. 4947(a)(1). Fiscal-year organizations must file by 15th day of 5th month after close of the tax year.

Calendar-year private foundations and Code Sec. 4947(a) trusts treated as private foundations must file Form 990-PF, and private foundations must pay the first quarter installment of estimated excise tax on net investment or tax on unrelated business income. Fiscal-year organizations must file by 15th day of 5th month after close of tax year, for both Form 990-PF and estimated taxes referred to above.

Calendar-year Code Sec. 501(a) organizations with unrelated business income must file income tax return on Form 990-T. Fiscal-year organizations must file by 15th day of 5th month following close of tax year.

Exempt organizations requesting an extension of time to file Form 990 may file Form 8868.

 

June 1st

Information Returns

Annual statement to IRS regarding 2015 account balances for an IRA or SEP (Form 5498). Participants and IRS must be provided with IRA plan contribution information.

 

June 15th

Individuals

Last day for nonresident alien individuals not subject to withholding to file income tax return for calendar year 2015.

Estimated Tax

Calendar-year corporations must pay second installment of 2016 estimated tax.

Payment of second installment of 2016 estimated tax by individuals (Form 1040-ES), other than farmers and fishermen, by trusts and by estates (Form 1041-ES), and certain residuary trusts in existence more than two years. Nonresident aliens who have no wages subject to U.S. withholding must make first payment (Form 1040-ES (NR)).

Corporations

Last day for foreign corporations that do not maintain an office or place of business in U.S. to file income tax return (Form 1120F) for calendar year 2015.

 

August 1st

Employers' Taxes

Employers of non-agricultural and non-household employees must file return on Form 941 to report income tax withholding and FICA taxes for the second quarter of 2016.

 

Sept. 15th

Estimated Tax

Payment of third installment of 2016 estimated tax by calendar-year corporations.

Payment of third installment of 2016 estimated tax by individuals ( Form 1040-ES), other than farmers and fishermen, by trusts and by estates (Form 1041-ES), and certain residuary trusts in existence more than two years.

Corporations

Last day for filing 2015 income tax return by calendar-year corporations that obtained automatic six-month filing extension.

Exempt Organizations

Last day for exempt calendar-year farmers' cooperatives to file 2015 income tax returns (Form 1120-C). Fiscal-year cooperatives must file by the 15th day of the 9th month following the close of the tax year. An automatic six-month extension of the filing date may be obtained by filing Form 7004.

Estates and Trusts

Last day for filing 2015 Form 1041 for calendar-year estates and trusts that obtained an automatic five-month filing extension.

Partnerships

Last day for filing 2015 Form 1065 for calendar-year partnerships that obtained an automatic five-month filing extension.

 

October 17th

Individuals

Last day for filing 2015 income tax return (Form 1040) by calendar-year individuals who obtained automatic six-month filing extension.

 

November 1st

Employers' Taxes

Employers of non-agricultural and non-household employees must file return on Form 941 to report income tax withholding and FICA taxes for the third quarter of 2016.

 

December 15th

Estimated Tax

Payment of last installment of 2016 estimated tax by calendar-year corporations.

 

Need assistance? We can help with both domestic and expat tax filing, tax planning, and tax resolution. Call us at 888-727-8796 or email info@irsmedic.com.


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