Important Tax Dates for the 2006 Year
As the 2006 tax season begins to approach there are number of important dates that each taxpayer should be fully aware of. Being properly informed of these important tax dates will not only keep taxpayers prepared, but it may also prevent them from having to pay any potential late fees or additional penalties.
The official start of the tax season begins on January 2, 2006. The start of the tax season means that taxpayers who have already received their W-2 forms from their employers can begin to prepare and file their tax returns.
The majority of businesses operating in the United States will send out their W-2 forms to their employees before the official W-2 deadline. February 2, 2006 is the official W-2 deadline for employers to mail out W-2 forms to their employees. This date is also the deadline for 1099 forms to be sent out. The 1009 forms are used to report additional income that was not obtained from a traditional job.
The famous April 15th tax day falls on a Saturday for the year 2006. This means that the IRS has extended the tax filing deadline until the next Monday. The official tax filing deadline date is April 17, 2006 for the year.
April 17, 2006 is not only the deadline for filing taxes, but it is also the deadline for paying them or requesting an extension. All tax returns, payments, or extension requests must be postmarked by April 17th. Items not postmarked by this date are subject to late fees or other additional penalties.
Taxpayers who were granted an extension on their tax deadline must have their taxes filed or paid for by August 15, 2006. This new deadline is only for individuals who have been approved for a deadline extension from the previous April tax deadline. It is important to remember that payments to the IRS must still have been received by the April deadline or interest rates will apply.
Taxpayers who were granted a tax deadline extension until August 15, 2006, but are still unable to file their returns can apply for an additional deadline. This additional tax extension deadline is for an additional two months; however, it is not as easy to obtain as the first deadline extension. Individuals who request this deadline extension must have their request in before August 15, 2006. If the IRS denies the additional two month deadline extension the original August 15th deadline is applied.
The above mentioned important tax dates are well-known; therefore, each taxpayer should be well prepared for them when the date arrives. Taxpayers who use these dates as guidance and follow them are less likely to receive late fees or other penalties from IRS.