1099 Tax Form Filing Deadlines
2020 Major Tax Deadlines. If you are an independent contractor or someone who runs for yourself, then you are probably going to be receiving a 1099 tax form. Here, we have provided all the essential dates you require to know.
Late January 2020 - IRS Starts Receiving Tax Returns
Generally, the Internal Revenue Service starts receiving tax return filings towards the end of January. If you owe federal income taxes as a result of your 2019 Tax Return, then you have until July 15, 2020, to pay your taxes without penalty. Find state-related tax deadlines and payment data. Due to the coronavirus pandemic, the date April 15 deadline to be replaced with July 15, 2020.
January 31, 2020 - 1099 Tax Forms Delivered
You should receive your 1099 forms reporting your 2019 payments from businesses you worked with by or before this date. 1099 and W-2 forms simply have to be postmarked by January 31. Related Forms: 1099-MISC, 1099-K, 1099-G, etc.
July 15, 2020 - 2019 Tax Returns Due Or Extensions Due
You should either postmark your return by this date or e-file previous to this deadline. If you do mail in your return, then a tax filing is considered filed on time as long as you postmark it by this date. If you don’t feel like you are going to be ready to file by Tax Day 2020. You require an extension, then make sure to file for one before this date with Form 4868. You will still require to file for an extension if you need extra time than that. For individual filers, this includes filling out Form 4868.
Businesses who require an additional extension must file Form 7004. The tax deadline if you file for an extension remains the same on October 15, 2020, despite the new July 15 deadline. An extension will permit you three more months to file your return. Keep in mind an extension will not provide you an extension to pay the tax that you owe; you’ll still require to transfer in tax payment to the IRS, even if you have filed for an extension. Relevant Forms: 1040, Schedule SE, Schedule C, or any other forms needed for your federal income returns.
2020 Quarterly Tax Deadlines
Our systems turned upside down by the COVID-19 pandemic. That covers the general process of making estimated tax payments for people self-employed or don't have taxes withheld from other roots of taxable income. In a regular year, the first estimated tax payment for 2020 would be due April 15, 2020. But, of course, nothing is common right now.
Estimated taxes typically paid in four normal installments. One division for each quarter of the year. For the 2020 tax year, estimated tax payments for the first and second quarters aren't due until July 15, 2020.
Quarter 1 2020 Deadline: July 15, 2020
- File estimated taxes for January 1st to March 31st wages.
- Related Forms: 1040-ES.
Quarter 2 2020 Deadline: July 15, 2020
- Generally, file estimated taxes for April 1st to May 31st wages.
- Related Forms: 1040-ES.
Quarter 3 2020 Deadline: September 15, 2020
- File estimated taxes for June 1st to August 31st wages.
- Related Forms: 1040-ES.
Quarter 4 2020 Deadline: January 15, 2021
- 2020 Major Tax Deadlines. Generally, file estimated taxes for September 1st to December 31st of 2020 wages.
- Related Forms: 1040-ES.
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