Feb. 1: Hello, February! We're thrilled that the shortest month has arrived.
Although we have only 28 days, that's still plenty of time to make some meaningful tax moves.
Let's get to them.
Feb. 2: Happy
Groundhog Day!
Don't get caught in a
Bill Murray loop and end up doing your taxes over and over. Get your 2018 return right the first time, which means waiting for all your necessary
tax statements, like your
W-2 and the assortment of
1099 forms, that you need to file.
Feb. 3: Are you ready for some Super Bowl!?! Of course you are, especially if you're placing a
now-legal sports bet on the
NFL championship game. Even nonsports fans get in on the action through myriad
prop bets. Remember, though, that whenever any bet, be it on an on-field event or something tangentially related to the game, pays off, those
gambling winnings are taxable income.
Feb. 11: Does your job include
tips? If so and you received $20 in tips in January, use
Form 4070 to report them today to your employer. Yes, it's usually due on the 10th, but since that was on Sunday, you have until the next business day to provide
details on your gratuities.
Feb. 12: Black History Month is celebrated every day this month, commemorating the achievements by black Americans and recognizing the role of African Americans in U.S. history.
The
National Association for the Advancement of Colored People (NAACP), the nation's oldest and largest grassroots-based civil rights organization, was founded on Feb. 12, 1909. That was the centennial anniversary of the birth of Abraham Lincoln, who issued the
Emancipation Proclamation twice.
One of the NAACP's key divisions is its
Legal Defense and Educational Fund.
If you want to support the Fund's work, you can donate to it and, since it is a 501(c)(3) organization, you can still claim it as an itemized deduction. Yes, this part of
Schedule A survived the
Tax Cuts and Jobs Act (TCJA) changes, although you might want to now look into other
charitable giving strategies.
Feb. 14: Happy Valentine's Day!
Do you and your better half file a joint return? Most
married couples do. Remember to look over the 1040 carefully before you sign it. When both spouses sign their jointly filed 1040, each is
jointly and severally liable for the entire tax amount due. This means the Internal Revenue Service can come after either spouse for payment of a tax bill, even the spouse who is in more dire financial circumstances.
Feb. 18: Today is
Presidents Day, officially honoring George Washington, the Father of Our Country. Over the years, however, this federal (three-day, yay!) holiday has come to commemorate the contributions of all our Commanders in Chief. And we've got to give a (another) special shout out to Abraham Lincoln, who essentially was
father of our income tax system, signing into law a tax on earnings to help pay Civil War costs.
Nowadays, however, this and other Monday holidays are spotlighted as special shopping days. If you itemize, you can claim a deduction for the
state and local sales taxes you pay, although they might not be as valuable on your 2018 tax return due to the overall
caps on state and local income tax deductions under the TCJA.
Feb. 22: February usually is a big filing month. If you're among the millions working on your taxes now, check out
Free File. The IRS/tax software industry partnership, known as the Free File Alliance, is in its 17th year of providing eligible taxpayers the opportunity to prepare and e-file their taxes at no cost.
This year, qualifying taxpayers — that's those with income of $66,000 or less — can use one of the expected dozen or so special commercial tax software programs at IRS.gov's
Free File online page. Even if you make too much to use the online software, you can file using Free File's fillable forms.
Feb. 28: If you're not a
tax procrastinator and have already filed, you can check the status of your return online using the IRS' "
Where's My Refund?" tool.
Small Business Tax Calendar: Speaking of business taxes, you'll find important filing, deposit and record keeping dates throughout the year that your company needs to know in the IRS'
tax calendar for small businesses and the self-employed. You also can get more tax calendar information in
IRS Pub. 509.
Ray, yes, Missouri operates by the postmark as evidence of timely filing standard; that is, if the postmark is April 15 the return is deemed as being filed on time on that day even if it arrived later. So mailing it April 14 should get the return postmarked 4/14 or at the latest 4/15. You also could pay for tracking, which I believe is a nominal charge, which will show when you delivered it to the post office as proof of timely filing.
Posted by: Kay | Sunday, April 13, 2014 at 10:57 AM
My first payment for 2014 Missouri estimated taxes will be mailed and postmarked April 14 2014. Does this meet the required due date even though the check may not be delivered by April 15th?
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Posted by: Lorrine | Wednesday, November 06, 2013 at 05:21 PM
yes, but you'll likely owe penalty and interest charges for late filing. But you need to file ASAP to stop those charges from continuing to add up.
Posted by: Kay | Sunday, January 22, 2012 at 06:19 PM
can i file my 2010 taxes in 2012
Posted by: shawn jenkins | Sunday, January 22, 2012 at 12:58 PM
Ellett, this is a listing of the states' normal tax filing deadlines. As you note, 2011 is not normal, with states that usually require returns by April 15 following the IRS postponement until April 18, 2011, because of Emancipation Day. Details on 2011 special tax day considerations can be found in these two posts: http://dontmesswithtaxes.typepad.com/dont_mess_with_taxes/2011/03/by-the-numbers-12-states-that-dont-follow-the-415-deadline.html and http://dontmesswithtaxes.typepad.com/dont_mess_with_taxes/2011/03/patriots-day-extends-maine-massachusetts-tax-deadline.html
Posted by: Kay | Friday, April 15, 2011 at 04:20 PM
CA date is incorrect. CA FTB web site says that CA is following the federal date of April 18.
Posted by: Ellett | Friday, April 15, 2011 at 10:30 AM
We are buying a new energy efficient furnace and airconditioner this week. I think I heard that there is a tax free day this week on energy savings appliances. If I am correct, how do I apply?
Posted by: Julie Garnier | Monday, April 19, 2010 at 08:57 AM