Personal Tax Return Due Date 2022

Will You Owe Federal Taxes On Your Forgiven Student Loan Amount

A provision tucked into the $1.9 trillion American Rescue Act COVID relief package passed in March 2021 eliminates federal taxation on forgiven student loan debt through 2025. This means you won’t owe any additional federal taxes on your forgiven student loans.

Typically when you receive student loan forgiveness, your forgiven debt is added to your taxable income come tax season. This increases the amount of taxes you owe for a given year, either lowering your refund or bumping up your tax bill.

For example, if you make $50,000 and have $20,000 in student loans forgiven, your taxable income would increase to $70,000, pushing you into a higher tax bracket.

For anyone who’s just received forgiveness — or will in the coming months — your forgiven balance will be free of federal taxes.

Paid Family And Medical Leave Contributions

Employers, other business entities and self-employed individuals electing PFML coverage are required to file Quarterly Returns through MassTaxConnect.

The first required quarterly return will cover the period from October 1, 2019 to December 31, 2019 and must be filed on or before January 31, 2020. All subsequent return filings will be due on or before the last day of the month following a calendar quarters close.

For more PFML information visit:

Individual Tax Returns Due

This is the deadline to file Individual tax returns . If your income is below $66,000 for the tax year, you can e-file for free using IRS Free File. If your income was above that, you can use the IRSâ free, fillable forms.

If youâre a sole proprietor filing Schedule C on your personal tax returns, the April 18, 2022 deadline applies to you too.

April 18 is also the deadline to file for an extension to file your individual tax return.

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Extension Of Time To Pay

• Filers also may seek a 6-month extension of time to pay the amount due by submitting Form M-4768: Massachusetts Estate Tax Extension Applicationand checking Box b under the Type of Extension section, with a written request attached explaining undue hardship/reasonable cause by mail or applying online at Masstaxconnect Apply for an Extension and using the send a message for attachments on or before the original due date of the return.
• The extension of time to pay may be requested even if the estate tax return is timely filed.

• When an extension of time to pay is granted, interest on any unpaid tax accrues from the original due date.
• An extension of time to pay is granted only for undue hardship/reasonable cause. An extension of up to a maximum of 3 years from the original due date may be granted. Each additional extension is for 6 months and must be filed before the expiration of the prior approved extension, explainingthe continued undue hardship/reasonable cause.

Tax Deadlines: July To September

• :Deadline for employees who earned more than $20 in tip income in June to report this income to their employers.
• : Deadline for employees who earned more than $20 in tip income in July to report this income to their employers.
• Deadline for employees who earned more than $20 in tip income in August to report this income to their employers.
• : Deadline forthird-quarter estimated tax payments for the 2021 tax year.
• : Final deadline to file partnership and S-corporation tax returns for tax year 2021, if an extension was requested .

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Tax Deadline For Quarterly Estimated Payments

If you’re self-employed, an independent contractor or have investment earnings, you might be curious about another set of deadlines: quarterly estimated payments. The IRS requires these quarterly estimated tax payments from many people whose income isnt subject to payroll withholding tax.

For estimated taxes, the answer to “When are taxes due?” varies. The year is divided into four payment periods, and each period has its own payment due date. Check below to see the dates for 2022.

American Opportunity Tax Credit

The American Opportunity Tax Credit is available for first-time college students during their first four years of higher education. It allows you to claim 100% of the first $2,000 of qualifying education expenses, then 25% on the next $2,000 spent — for a total of up to $2,500. If you’re a parent, you can claim the AOTC per eligible student in your household, as long as they’re listed as a dependent.

To claim the full credit in 2021, your MAGI must have been $80,000 or less . If your MAGI was between $80,000 and $90,000 , you might have qualified for a partial credit.

The AOTC is a refundable credit, which means if it lowers your income tax to less than zero, you might be able to get a refund on your taxes or increase your existing tax refund.

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Are Inheritance Taxes Due On The Date Of Death Or When The Inheritance Is Received

While some states do impose an inheritance tax, the federal government only imposes an estate tax. Estate taxes are imposed on the estate itself rather than on the individuals inheriting assets from the estate. Estate taxes aren’t necessarily imposed on the date of death, but they will have been assessed by the time an heir officially receives assets.

What Is The Best Way To File My Tax Returns And Other Documents

More than 87% of all returns filed in Vermont are e-filed. Electronic filing through a commercial software vendor or your tax preparer is a secure way to file federal and Vermont returns. On average, e-filers get their refunds about two weeks faster than filers using paper forms because returns transmitted electronically get to the department more quickly, with fewer errors, and are more easily processed.

The Department continues to make improvements to make online filing easier for all taxpayers. You may use commercial tax software or a tax preparer to e-file Vermont personal income tax, but some filings may be made for free through myVTax as follows:

• Homestead Declaration
• Renter Credit
• Landlord Certificate
• An extension to file personal income tax

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State Tax Deadlines For Filing 2021 Individual Returns

Most states require individual taxpayers to file their state income taxes by Tax Day. Thats easy to remember because it is the same deadline as the federal tax deadline. However, there are several states that impose different deadlines and nine states that have no income tax. You can see the deadline for each state and the District of Columbia in the table below.

Deadlines For December Tornado Victims

Following the disaster declarations issued by the Federal Emergency Management Agency , the IRS announced relief for victims of the December tornadoes, severe storms and flooding in parts of Kentucky, Illinois and Tennessee.

Affected individuals and businesses in certain areas of these states will have until May 16, 2022, to file returns and pay any taxes that were originally due on or after Dec. 10, 2021. This includes 2021 individual income tax returns due on April 18, as well as various 2021 business returns normally due on March 15 and April 18. As a result, affected taxpayers will also have until May 16 to make 2021 IRA contributions.

The May 16 deadline also applies to the quarterly estimated tax payments normally due on Jan. 18 and April 18, as well as the quarterly payroll and excise tax returns originally due on Jan, 18. As a result, taxpayers can skip making their Jan. 18 payment and simply include it with their 2021 return. Additionally, the quarterly payroll and excise tax returns that were originally due on Jan. 31, 2022 and May 2, 2022 now can be filed by May 16, 2022.

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What Is The Department Doing To Help Prevent Fraud

Because fraudsters work hard to devise new ways to steal identities and money, the Department continues to experience attempted tax refund fraud. The Vermont Department of Taxes works with the IRS, other state revenue departments, and companies and trade associations in the tax and financial services industries to develop and implement new procedures to help protect taxpayer money.

Submitting false W-2 information is a favorite tactic of fraudsters. Because of this, the Department continues efforts to validate wage withholding information with filings and payments by employers. The Department has emphasized the February 1 due date for employers to file W-2 information. Filing this information electronically with the Department by the due date prevents a frequent source of refund delay. Learn more about identity theft and fraud.

We Have Made It Easier For You

We continue to make it easier for you to comply. Starting July 2022, we will be assessing a significant number of taxpayers automatically.

We auto-assess based on the data we receive from employers, financial institutions, medical schemes, retirement annuity fund administrators and other 3rd party data providers. If you have not yet received your IRP5/IT3s and other tax certificates like medical certificate, retirement annuity fund certificate and other 3rd party data that are relevant in determining your tax obligations, you should immediately approach your employer or medical scheme or retirement annuity fund or other 3rd party data providers to make sure that they have complied with their submission requirements.

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Important Due Dates For Filing Your 2021 Tax Return And Making Payments

The Balance / Catherine Song

Tax filing season can be stressful, but if you plan ahead, the process can be much more seamless.

Generally, April 15 is the official deadline for filing your federal income tax return each year, but that date isn’t carved in stone. The deadline moves to the next business day when April 15 falls on a Saturday, a Sunday, or a legal holiday, and other national events can shift it as well. For example. the tax filing deadline in 2022 is April 18 .

The Internal Revenue Service typically begins processing tax returns in late January of each year, but you can start filing as soon as you have all of the necessary paperwork together. In this guide, you’ll learn all of the important dates to know in 2022 in order to ensure a smooth and easy tax filing process.

What Is The Last Day To File Taxes

The last day to file taxes for individual federal income tax returns is April 15, or as late as April 18 in the event Tax Day falls on a Saturday, Sunday or official holiday. Some state-level holidays can extend the tax deadline by one day further. You can request a six-month filing extension through filing Form 4868, making your last day to file individual income taxes October 17, 2022.

If you also file taxes for your small business as a partnership, LLC or S Corp, the last day to file taxes is March 15 unless it falls on a weekend or official holiday. If your business runs on a non-calendar tax year, your federal tax return is generally due by the 15th day of the third month following the end of the tax year.

Remember, with TurboTax, we’ll ask you simple questions about your life and help you fill out all the right tax forms. With TurboTax you can be confident your taxes are done right, from simple to complex tax returns, no matter what your situation.

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Your Tax Filing Status Can Impact Your Student Loan Payments

If you’re repaying federal student loans and you’re on an income-driven repayment plan, your marriage status may impact your payment amount. For instance, if you’re married filing jointly, your payments are based on the joint income between you and your spouse. If you’re married filing separately, your payments are based on only your income.

If you decide to file separately to lower your monthly IDR plan payment, however, you may miss out on other key tax benefits. For example, you may not be able to take advantage of a lower tax rate extended to married couples filing jointly, nor will you be able to claim increased credit and deduction amounts available if you filing jointly.

The Revised Pay As You Earn, or REPAYE, plan doesn’t distinguish between whether you’re listed as married filing separately or married filing jointly. Your payments are based on the income of both you and your spouse.

What If I Am Asked To Verify My Identity Or For More Information

After you submit your return, you may receive a letter from the Department requesting additional identification. Please respond as soon as possible to avoid a delay of your refund. You may provide additional information, including requested documents, online through myVTax, select Respond to correspondence. If we ask you to verify that the return the Department has received is truly your return, you also may respond through myVTax select Return filing verification.

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Due On Or Before April 19 2022

Form 355

• File a 2021 calendar year return and pay any tax due. If requesting time to file a return please ensure to deposit what you estimate you owe in tax as your extension payment.

Form 355SC:

• File a 2021 calendar year return and pay any tax due. If requesting time to file a return please ensure to deposit what you estimate you owe in tax as your extension payment.

Form 355U

• File a 2021 calendar year return and pay any tax due. If requesting time to file a return please ensure to deposit what you estimate you owe in tax as your extension payment.

Form M-990T

• File a 2021 calendar year return and pay any tax due. If requesting time to file a return please ensure to deposit what you estimate you owe in tax as your extension payment.

Form 180:

• File a 2021 calendar year return and pay any tax due.

Deadline For Business Taxes

If you are a business, the due date for your tax forms will depend on what kind of business you are. The deadline for most corporations and any other business individuals who file Form 1040 is the same as the standard tax deadline, April 18, 2022, unless you file for an extension.

However, the deadline for S-corporations and partnerships to submit their tax forms is March 15, 2022. If you file for an extension, you will have an additional six months to submit your tax return.

Corporations with a fiscal year ending on June 30 may have a different income tax deadline. In this case, its best to speak with a tax professional to ensure you file by the correct deadline.

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Due Date For The Final Return

Generally, both the final return of the deceased and the return for their surviving spouse or common-law partner who was living with them are due on or before the following dates, if neither person was carrying on a business in 2021:

If the death occurred between inclusive, the due date for the final return is of the following year.

If the death occurred between inclusive, the due date for the final return is 6 months after the date of death.

If the deceased or the deceased’s spouse or common-law partner was carrying on a business in 2021 , the following due dates apply to both individuals:

If the death occurred between inclusive, the due date for the final return is of the following year.

If the death occurred between inclusive, the due date for the final return is 6 months after the date of death.

Will My Refund Be Issued By Paper Check Or Electronically

Previously, the Department might have issued you a paper check, even if you selected to receive your refund by direct deposit or prepaid debit card. This protection helped the Department avoid sending your money to an account or debit card that is controlled by a criminal.

While the Department honors taxpayer requests to issue a refund electronically, there may be situations in which we will determine its safer to issue a paper check. In some cases, we may send a letter requesting verification of taxpayer identity instead of automatically changing your request to a paper check. The letter instructs you to go to myVTax, select Return filing verification, and enter the verification code included on the letter. This verifies your request and allows us to proceed with processing your refund.

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Returns Filing Due Dates On Extension

• Corporate excise taxpayers receive an automatic extension of time to file their tax returns as long they have paid the greater of 50% of the total amount of tax ultimately due or the minimum corporate excise by the original due date for filing the return.
• If requesting time to file a return please ensure to deposit what you estimate you owe in tax as your extension payment. There are no zero extensions, a payment must be made in order to file an extension.
• Filing an extension with the IRS does not count as filing an extension for Massachusetts.
• An extension is an extension of time to file not to pay, any amount due will incur interest even if a valid extension is on file.

The Payment Deadline Is April 30 2022

If you have a balance owing, your payment is due on April 30, 2022.

If you or your spouse or common law-partner are self-employed, your payment is still due on April 30, 2022.

Since April 30, 2022, falls on a Saturday, in both of the above situations, your payment will be considered paid on time if we receive it, or it is processed at a Canadian financial institution, on or before May 2, 2022.

If you filed your 2020 return and qualified for interest relief, you have until April 30, 2022, to pay any outstanding income tax debt for the 2020 tax year to avoid future interest charges. This applies to the tax owing for the 2020 tax year only, and not for any previous tax year.

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