How Tax Filing Software Can Help You With Filing Deadlines

There are a number of important deadlines that you should have on your calendar to ensure that you meet your tax obligations. Tax filing software can help you with this. Some of the important due dates that are automatically scheduled into the software, such as the January 15, 2013 due date, which is when your fourth quarter estimated tax payment for 2012 is due. The software will also let you know that you can wait to pay this amount and avoid a penalty if you file your return and pay the correct amount before January 31, 2013.

Other important filing deadlines that tax return software can help you with include January 30, 2013. On this date, the IRS begins accepting tax returns for processing, but the IRS will not process all returns. immediately and some will have to be delayed up to a few months. after this deadline. The next day is January 31, the deadline for employers to submit Form W-2 and businesses to submit Form 1099 information to the IRS. On this date, self-employed workers also need to file their returns and pay the amounts due so as not to incur a tax penalty.

Later in the year, February 15, 2013, is the date that individuals claiming to be exempt from withholding must submit a Form W4 to the person or organization they work for. Also on this date, banks, investment and insurance companies must submit information on sales of stocks, bonds or mutual funds and property transactions for registration. Shortly after March 1, 2013, farmers and fishermen should be aware of their tax obligations. There are very different obligations for farmers and fishermen that tax filing software can help with.

Limited Liability Companies (LLCs) and other types of partnerships that need to file Forms 1120, 1120A, and 1120S generally must do so by March 15, 2013. However, it is also possible to obtain an extension by filing a Form 7004. With To these more complicated types of returns, it is particularly helpful to have tax return software because the compliance obligations in relation to corporate tax returns are so complicated that it is necessary to have a pre-structured system to deal with issues that arise in relation to Filing a corporate income tax return. One of the main deadlines for the year is April 15, which is the time when individual tax returns must be filed, unless there is an extension request that allows an additional six months to file returns.

There are a number of deadlines that are surrounded by complicated rules for extensions, variations, and time-based submissions. This is without considering the complicated rules surrounding deductions, income assessability, and the issue of capital gains. This level of complexity requires the use of tax filing software to ensure compliance with tax obligations.