Key 2005 Tax Filing / 2006 Tax Payment Deadlines

Category: Tax Law and Planning

From James Jimenez, CPA, of Fass and Associates:

"Mark These Tax Deadlines in Red

Circle these dates on your 2006 calendar if any of the following upcoming tax deadlines apply to you or your business.

January 17 – Due date for the fourth and final installment of 2005 estimated tax (unless you file your 2005 return and pay any balance due by January 31).

January 31 – Employers must furnish 2005 W-2 statements to employees. 1099 information statements must be furnished to payees by banks, brokers, and other payors.

January 31 – Employers must generally file 2005 federal unemployment tax returns and pay any tax due.

February 28 – Payors must file information returns (such as 1099s) with the IRS. (March 31 is the deadline if filing electronically.)

February 28 – Employers must send W-2 copies to the Social Security Administration. (March 31 is the deadline if filing electronically.)

March 1 – Farmers and fishermen who did not make 2005 estimated tax payments must file 2005 tax returns and pay taxes in full.

March 15 – 2005 calendar-year corporation income tax returns are due.

April 17 – Individual income tax returns for 2005 are due unless you file for an automatic extension. Taxes owed are due regardless of extension.

April 17 – 2005 partnership returns are due.

April 17 – 2005 annual gift tax returns are due.

April 17 – Deadline for making your 2005 IRA and education savings account contributions.

April 17 – First installment of 2006 individual estimated tax is due.

June 15 – Second installment of 2006 individual estimated tax is due.

September 15 – Third installment of 2006 individual estimated tax is due.

October 16 – Deadline for filing your 2005 individual tax return if you filed for an extension of the April 17 deadline. "