May 1: It’s not such a merry day for some taxpayers. Not only did the residents of eight states have to earlier deal with a major natural disaster, their Tax Day that was delayed because of those damages is today, May Day, no doubt prompting a mayday call from some affected filers.
May 2: The rest of us made it through last month, the one that is home to the annual U.S. filing deadline. Did Tax Day mean you got or are expecting a big refund from that filing? Or did you end up owing Uncle Sam a lot? Either way, with your most recent taxes fresh in your mind, it's a good time for a paycheck checkup to determine whether you should adjust your payroll income tax withholding.
May 5: ¡Feliz Cinco de Mayo! Fiestas are always en vogue in Tejas, but the epitome of them is this Mexican holiday.
No, it is NOT Mexican Independence Day, and May 5 tends to spur more festivities here north of the border, especially when it comes to imbibing margaritas, the Lone Star State's unofficial cocktail. With every Cinco toast, remember that the cost of state and federal alcohol taxes are included in the mixing.
May 11: Happy Mother's Day!
Your mom meant it when you were young and she told you she didn’t need a gift today. But she definitely will appreciate a longer-than-usual hug on her special day. Love, flowers, and the best of health and happiness to every mother, from the new ones just discovering the joys, tax and otherwise, of new parenthood to those gracefully maneuvering their Golden Years and getting some year-round tax-advantaged help from their families.
May 12: If your job is as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation, I hope you get all the tips you deserve for doing your job well. Remember, though, that those tips are taxable income.
Whether you're dining at your favorite eatery or getting food, groceries and/or prepared meals, delivered to your home, if a tip isn't included on your restaurant or delivery bill, click the image above to calculate how much to tip the person who brought it to you.
And if you got at least $20 in gratuities in April for your extraordinary services as a food server or hair stylist or parking valet or whatever job where tipping is common, you must report that amount by today, a bit late since the normal 10th of the month deadline fell in May on Saturday. Use Form 4070 to let your employer know the total tips you took in last month.
May 19: Millions of taxpayers got an extension to file, or automatically got a later Tax Day due to a major disaster declaration. These individuals can still file electronically, which the IRS recommends. E-filing will speed up processing of returns whenever they are filed, as well as help Uncle Sam get refunds out more quickly. And yes, some late filers are due refunds.
The IRS-Free File Alliance partnership offers no-cost online tax preparation and electronic filing to taxpayers whose adjusted gross income (AGI) is $84,000 or less, regardless of filing status at the official IRS.gov Free File website.
Even better for eligible late filers, Free File will be available through the Oct. 15 extension deadline, with the same eight software companies that participated last year back for the 2025 filing season.
If your income is too high, you still can file for free by using Free File's Fillable Forms option.
May 23: Millions of Americans will be welcoming the unofficial start of summer this long Memorial Day weekend. It’s also when gasoline prices always seem to increase. Some of the pump price is attributable to fuel excise taxes. If pump prices climb too much, that may prompt you to look more closely into getting an electric vehicle (EV) before your next road trip, and before the current White House and Congress eliminate the potential $7,500 tax credit for some EVs.
May 26: Yes, the end-of-May long weekend is a time for fun. But don’t forget the real reason for the Memorial Day holiday. Take time to honor the military personnel who made the ultimate sacrifice. And don't forget about their families. There are some tax considerations offered survivors of lost soldiers, sailors, and air crew.
May 31: You filed your tax return six-plus weeks ago and you’re still waiting on your refund. What the what?! Quit fuming and check your refund’s status using the IRS' "Where's My Refund?" online tracking tool.
Small Business Tax Calendar: If you run your own company, you know there are myriad important filing, deposit and record keeping dates throughout the year that your company needs to meet. You also can track key business and individual tax deadlines in IRS Pub. 509.
If you’ve got a new address, notify the U.S. Postal Service so your tax refunds or IRS correspondence will be forwarded to you. Postal Service will take care of passing your new address to IRS for updating.
Posted by: Tax Return | Saturday, December 17, 2011 at 08:08 AM
I agree with Ben, no more interest free loans for the government. Most people do not understand that the money is yours, and if you get a refund you could be using it better by spreading it out in your paychecks and not having as much withheld. Don't give the government any more than you need to! You never know when you might have more money than you think.
Posted by: Larry Kozky | Wednesday, October 26, 2011 at 07:44 PM
People know themselves. If they then consciously choose to get the money later, then kudos. Many people don't save or invest their money, they spend it.
Interest rates are so miserable lately, it's not much of a loss anyway.
You could be going through changes and can't anticipate your actual withholding so you guess in a way that favors you rather ending up with a tax bill.
Lots of good reasons.
Posted by: siddhi | Monday, May 02, 2011 at 06:54 AM
I get into arguments with people all the time about this! Why anyone would choose to give the IRS an interest free loan is beyond me!
Posted by: Ben Marino | Friday, April 29, 2011 at 02:28 PM