April 12 – Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during March, you are required to report them to your employer on IRS Form 4070 no later than April 12.
April 15 – Taxpayers with Foreign Financial Interests
A U.S. citizen or resident, or a person doing business in the United States, who has a financial interest in or signature or other authority over any foreign financial accounts (bank, securities, or other types of financial accounts), in a foreign country, is required to file Form FinCEN 114. The form must be filed electronically; paper forms are not allowed. The form must be filed with the Treasury Department (not the IRS) no later than April 15, 2021, for 2020. An extension of time to file of up to 6 months is automatically allowed. This filing requirement applies only if the aggregate value of these financial accounts exceeds $10,000 at any time during2020. Contact our office for additional information and assistance filing the form.
April 15 – The Normal April 15 Tax Filing Due Date has been extended to May 17, 2021
The IRS has extended the normal April 15 individual tax return due date to May 17. Caution: the extension does not apply to the 2021 estimated tax payment which is still due on April 15, 2021.
April 15 – Estimated Tax Payment Due (Individuals)
It’s time to make your first quarter estimated tax installment payment for the 2021 tax year. Our tax system is a “pay-as-you-earn” system. To facilitate that concept, the government has provided several means of assisting taxpayers in meeting the “pay-as-you-earn” requirement. These include:
- Payroll withholding for employees;