Important 2010 Tax Dates

As Benjamin Franklin once said – “In this world nothing can be said to be certain, except death and taxes.” While you won’t know when the Grim Reaper will pay you a visit, the IRS is only slightly more considerate as they set tax dates in stone every year.

Here are the important tax dates for 2010:

February 1st, 2010 – Normally, employers and most other entities are required to mail 1099s and W-2s by January 31st but since it falls on a Sunday this year, the deadline is the 1st of February. If you don’t get these forms by mid-February, contact your organization to get a replacement sent out. There’s no financial incentive for an organization to withhold your W-2, you have already been paid, but if they play games, call the IRS. If you don’t receive your W-2 by the due date, use your pay stubs and substitute the W-2 with a Form 4852.

February 16th, 2010 – This year, because of the Energy Improvement and Extension Act of 2008, financial institutions filing a 1099-B, 1099-S, 1099-MISC, 1099-INT (there are a few more less common ones), have until February 16th (the 15th is a holiday) to file those forms. You can learn more about it from this IRS bulletin (Thank you gerlach!).

April 15th, 2010 – April 15th is the all important tax due date when all tax returns must be postmarked or electronically filed. This year it’s on a Thursday. If you need an extension, you can file a request for a tax filing extension. You may be granted an extension until October 15th, 2010 for the tax return but payment for taxes due is still April 15th. You can also request an extension for payment if it would cause you “undue hardship” using Form 1127, but you will be charged interest.

October 15th, 2010 – If you request and were approved for an extension, October 15th is your new due date. This date also happens to be the last day you can recharacterize (undo) a Roth IRA conversion. If the IRA has lost money since you converted, you could save money by “undoing” it.

Quarterly Estimated Tax Payments – For 2010, the payment dates are April 15th (1st), June 15th (2nd), September 15th (3rd), and January 18, 2011 (4th).

Jim writes about personal finance at Bargaineering.com.

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