How Long Will It Be Until? Part II

Today in the Excel Math "what can I do with this stuff when I grow up?" blog, we will spend a bit more time on calendars and remembering when to pay your taxes. If you are a memory-challenged reader - I too admit to forgetting to pay my estimated taxes. Once.

If you pay taxes to another country, please forgive me for focusing this blog on the US tax calendar. Having lived and paid in the UK where they are also zealous about this, I'm pretty sure every country wants its citizens to pay on time. That's why they sent you to school when you were young, so you can learn this stuff and be a good taxpayer when you grow up.

First, US Federal Holidays for 2011

• Jan 17  Martin Luther King, Jr. Birthday
  
• Feb 21  President Washington's Birthday
  
• Apr 15   District of Columbia Emancipation Day
  
• May 30  Memorial Day
  
• July  4   Independence Day
  
• Sep 5    Labor Day
  
• Oct 10   Columbus Day
  
• Nov 11   Veterans' Day
  
• Nov 24  Thanksgiving Day
  
• Dec 26  Christmas Day
  

Next, Saturday, Sunday, or legal holidays 

If a tax due date falls on a Saturday, Sunday, or legal holiday (the list above plus state holidays), it is delayed until the next business day. The tax calendars include federal legal holidays, but you need to adjust for your own statewide legal holidays.

Finally, the important dates

The following list shows THE LAST DAY you can submit your information (and/or money) to the IRS without a penalty:

• Jan 10 If you received more than $20 in tips in Dec 2010 you must declare them (same date every month)
• Jan 14 First day it is normally possible to file your 2010 tax return (it was moved to Feb 14 this year due to tax law changes made in Dec)
• Jan 15 Pay your estimated taxes for Q4 2010 if you are self-employed or a small business
• Jan 31 Employers mail 2010 tax forms (W2, 1099) to people you paid last year
• Feb 16 Fill out a W4 for 2011
• Feb 16 Banks and brokers mail 2010 1099B and 1099S forms to people who paid/earned interest
• Feb 28  Farmers and fishermen to file and pay their Q4 taxes
• Mar 15 Corporations file tax returns
• Apr 18 Individuals file their 2010 tax returns  (we get a few extra days this year, why?)
• Apr 18 Pay estimated taxes for Q1 if you are self-employed, a small business, estate or trust
• Apr 18 File schedule H for your Housekeeper
• May 16 Non-profit organizations file 990 returns
• Jun 15 Pay estimated taxes for Q2 if you are self-employed, a small business, estate or trust
• Jun 15 Individuals who live overseas file their 2010 tax returns
• Jun 30 Reports of overseas bank accounts worth $10k+ must reach the Treasury Department
• Sep 15 Pay estimated taxes for Q2 if you are self-employed, a small business, estate or trust
• Oct 3  Establish a Simple-IRA for 2011
• Oct 17 File a late-extension 2010 tax return electronically

NOTE 1: This is just my interpretation of the main dates and it is not definitive. I will not pay your penalties for you if you forget or if I got it wrong.

NOTE 2: You can do most of these things electronically. But do not wait until the last minute to figure it out. There is no grace period for inability to file due to power shortages, going off-line accidentally, etc.

NOTE 3: You are considered to have paid on time if your mail is postmarked by the US Postal Service before midnight on the due date. It doesn't actually have to arrive in the hands of the tax man. If you ship your tax forms by Fedex or UPS, there are some special conditions. 

NOTE 4: There are a few exceptions to these date rules (see June 30th).

If you need the real deal, click here to go to the IRS site and get the calendar for 2011.