Mark your calendars! The calendar year 2020 due dates for Tax Year 2019 tax returns is now available. For 2019 filings only two date filing dates have been adjusted for weekend occurrences. Whenever a regular tax filing date falls on a Saturday, Sunday, or a legal observed holiday in the District of Columbia, the due date for returns is pushed to the next business day.
In prior years, in addition to weekend statutory due date appearances, the Form 1040 and Form 1120 due dates have been adjusted due to the Emancipation Day observance in the District of Columbia. The observance is typically on April 16th, no matter what day of the week the holiday falls and thus does not impact the filing date for 2019 returns.
For calendar year tax returns reporting 2019 information that are due in 2020, the following due dates will apply.
2020 Filing Due Date (Tax Year 2019)
Form W-2 & certain 1099-Misc (electronic or mail)
Form 1065 – Partnerships
Form 1120-S – S Corporations
Form 1040 – Individuals
FinCEN 114 – FBAR (will be allowed to extend)
Form 1041 – Trusts and Estates
Form 1120 – C Corporations
Form 990 series – Tax Exempt Organizations
Form 5500 series – Employee Benefit Plan
Form 1065 Extended Return
Form 1120-S Extended Return
Form 1041 Extended Return
Form 1120 Extended Return
Form 1040 Extended Return
FinCEN 114 (Extended with Form 1040)
Form 5500 series – Employee Benefit Plan Extended Return
Form 990 series – Tax Exempt Organization Extended Return
*Please note: Some of the above due dates are different from standard filing dates due to holidays or weekends.
For fiscal year filers:
Partnership and S Corporation tax returns will be due the 15th day of the third month after the end of their fiscal tax year.
C Corporation tax returns will be due the 15th day of the fourth month after the end of their fiscal tax year. A special rule to defer the due date change for C Corporations with fiscal years that end on June 30th defers the change until December 31, 2025.
Employee Benefit Plan tax returns are due the last day of the seventh month after the plan year ends.
It is important to confirm when tax returns are due for all states in which taxpayers operate, because individual states may not conform to the Federal filing dates.
Estimated Tax Payment Due Dates
In addition to the statutory due dates listed above, estimated tax payments also have their own due date schedule. Often, taxpayers are confused on the due dates for estimated tax payments since they do not fall on a typical quarter end. The first quarter estimated tax payment is due the same time as the prior year’s tax or extension payment is due. The fourth quarter payment is due in the year following the tax year. This is practically the only time a payment made in a following year impacts the prior year tax return for cash basis taxpayers.
Our tax system is a “pay as you go” system, meaning that taxpayers are expected to pay in tax, on at least quarterly basis, for the income they have earned. If there is adequate withholding by employers, then this can be a seamless process. However, some taxpayers, especially those with dual incomes, fluctuating income or significant passive income or those who are high earners, or self-employed may find themselves under-withheld at tax time. In addition to a significant tax bill, these taxpayers may also find themselves with an underpayment penalty.
The due dates for estimated tax payments are listed below.