The Ultimate Guide To The IRS Filing Deadlines For 2022
If you’re not prepared, tax filing deadlines can catch you off guard. Missing important tax dates can be frustrating and even lead to late penalties.
The easiest way to avoid this is to take some time and save each relevant tax filing deadline to your calendar.
We’ve put this article together to make it easier for you to find and remember the right filing dates for common IRS forms.
It also contains a few helpful tips to ensure a successful tax season—whether you’re an individual taxpayer or business.
Important Things to Remember for Tax Season
In addition to remembering to file your tax returns on the right dates, there are a few other things to consider when the tax season rolls around.
Taking note of the key points below will help you to avoid unnecessary mistakes and admin.
Date Extensions
Every American has the right to apply for filing date extensions if they have missed the submission deadline.
Your application for the extension must be submitted to the Internal Revenue Service (IRS) by April 18.
If your filing extension has been granted, you will have to submit your tax returns by October 17.
Late Penalties
There are different penalties for paying your taxes late and for filing them after the submission date without an approved extension.
The penalty for making late tax payments is 0.5% of the taxes owed to the IRS each month.
Filing for taxes after the deadline and without an approved extension can result in fines of 5% of the amount you owe the IRS.
If you mail physical copies of your tax documents to the IRS on the paper filing deadline, they may not receive them on the same day.
However, if the documents were mailed on the submission date, the IRS still considers your taxes as filed on time.
In electronic filing procedures, you have until midnight of the submission deadline to send your documents to the IRS.
You could also receive a penalty if the information on your tax documents is inaccurate.
The penalty may be up to 20% more than the amount you still owe to the IRS. For further information on tax-related penalties, you can visit the IRS website.
‘Tax Day’
While January to April is typically known as ‘tax season,’ the big ‘tax day’ falls on April 15.
In 2022, ‘tax day’ is on April 18 since the 15th falls on a public holiday.
This is the last day of the fiscal tax year for individual taxpayers, sole proprietors, and C corporations to file all of their tax documents.
Deadlines for Different IRS Forms
1099 Forms
The 1099 tax forms are used to report different payments made to nonemployees to the IRS.
Nonemployees are independent contractors or freelancers who aren’t formally employed by a company.
Businesses will often hire nonemployees for one-off jobs or services.
Form 1099-NEC
The 1099-NEC form is used to report non-employee compensation over $600. This amount includes any fees, commissions, or other sources of income.
This form is also used to track how much an independent contractor has earned from each company they have provided services to.
Independent contractors can attach Form 1099 to their 1040 income tax return to replace the W-2.
Deadline:
Mail and E-filing: January 31, 2022.
Form 1099-MISC
The Form 1099-MISC reports miscellaneous service payments and non-employee income that the 1099-NEC doesn’t cover.
These payments include:
- Monetary prizes or awards.
- Rent.
🧾Deadlines:
Mail Filing: February 28, 2022.
E-filing: March 3, 2022.
Form 1099-INT
The Form 1099-INT form is used to report any interest that a taxpayer receives of more than $10.
Taxpayers generally receive this interest from banks or other financial institutions. This form will be sent to them by January 31.
To be eligible to receive this income, the taxpayer must file a Form 1099-INT with their other tax documents on the correct due date.
🧾Deadlines:
Mail Filing: February 28, 2022.
E-filing: March 31, 2022.
Form 1099-DIV
The Form 1099-DIV reports any income non-employees earned from dividends during the tax year.
Brokerages that pay the dividends to the independent contractor will send this form by January 31.
To receive the dividends, the non-employee must file the 1099-DIV form with their other tax documents on the correct date.
🧾Deadlines:
Mail Filing: February 28, 2022.
E-filing: March 31, 2022.
Form 1099-B, 1099-S, and 1099-R
Nonemployees use these 1099 forms to report any additional forms of income they have earned outside of their full-time jobs.
Let’s take a closer look at some examples of this below.
Form 1099-B is used to report brokerage transactions, like selling stocks.
Form 1099-S is used to track income from real estate transactions, such as selling property.
Form 1099-R reports income received from retirement plans or pension funds.
The relevant institutions will send the necessary 1099 form to the independent contractor by January 31.
For independent contractors to receive this income in time, they must submit these forms with their other tax returns on the correct date.
🧾Deadlines:
Mail Filing: February 28, 2022.
E-filing: March 31, 2022.
W-2 Forms
Full-time employees use the W-2 forms to track and report the income they earn from their employer.
Employees also use a W-2 form to report their taxable deductions and other benefits to the IRS when filing their federal and state taxes.
W-2 SSA Copy A
This is a copy of the W-2 form that is sent to the Social Security Administration (SSA) every year.
Employers usually send this copy to the SSA on behalf of the employee. The SSA uses this copy to track employees’ Social Security earnings and Medicare benefits.Copy A is for informational purposes only it cannot be printed and mailed to the SSA since how the paper lines up in a printer varies and mailed copies must be formatted to fit the scanning machines. Users can also fill out Copy A on the SSA website in order to securely send the information to them directly. If you need help FormPros offer a free tax consultation from our partner https://1800accountant.com/partners/formpros
🧾Deadline:
Mail and E-filing: January 31, 2022.
W-2 Copies B, C, and 2
These copies of the W-2 form are mainly used for record-keeping and filing individual taxes.
Copy B is used by employees to file their federal income tax returns.
Copy C is for the employee’s record-keeping purposes.
Copy 2 is used by employees when they file their state or local income tax returns.
🧾Deadline:
Mail and E-filing: January 31, 2022.
Form 940
Form 940 is what businesses use to report their contributions to the Federal Unemployment Tax Act (FUTA).
FUTA tax provides unemployment compensation for employees who lose their jobs.
This amount is covered by employers and won’t be deducted from an employee’s wages.
🧾Deadline:
Mail and E-filing: January 31, 2022.
Form 941
Employers use Form 941 to report how much their business spends on employee wages and payroll taxes.
Unlike other forms that can either be filed monthly or annually, this form must be filed every three months or every quarter.
Employers also can’t choose to pay the full amount they owe the IRS once a year like with other tax forms.
Instead, the Form 941 tax amount must be paid every three months when it’s filed.
Form 941 can also be used to report or calculate:
- Social Security and Medicare taxes.
- Tips.
- Income taxes withheld.
- Additional withheld taxes.
- Refundable or nonrefundable portions of sick and family leave.
🧾Deadlines:
Quarter 1 (January, February, March): May 2, 2022.
Quarter 2 (April, May, June): August 1, 2022.
Quarter 3 (July, August, September): October 31, 2022.
Quarter 4 (October, November, December): January 31, 2023.
Form 1095-B
Form 1095-B is typically filed by small businesses with less than 50 employees who provide sponsored health care plans.
Self-employed individuals also use this form to report their basic health care contributions.
Basic health care plans can include:
- Government-sponsored health insurance programs.
- Selected employee-sponsored insurance plans.
- Individual market plans.
- Other designated minimum coverage that has been approved by the Department of Health and Human Services.
🧾Deadlines:
Mail and E-filing: March 2, 2022.
Form 1095-C
Similar to Form 1095-B, this document reports basic health care insurance offered to employees.
However, Form 1095-C is used by larger businesses with more than 50 employees. Form 1095-C can also be used to:
- Determine the employer’s liability for carrying the cost of additional health care benefits.
- See if an employee qualifies for a premium tax credit.
- Create self-insured health plans that offer more coverage.
Employees must receive this form from their employers by March 2.
🧾Deadlines:
Mail Filing: February 28, 2022.
E-filing: March 31, 2022.
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