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Tax Information

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We’ve designed our Tax Center to provide you with the most up-to-date tax related information available to you right at your fingertips. We want to make your life easier and help to make tax season go by much smoother. If you have an questions about tax due dates or anything related to taxes please call the McAllen CPA office of Abigail Y. Murray CPA, LLC. at (956) 800-5600.

1st Quarter Tax Due Dates – January, February, March
January 10 Employees who work for tips: If you received $20 or more in tips during December, report thhem to your employer. You can use form 4070.
January 16 Individuals: Pay final installment of your 2017 estimated tax. Use Form 1040-ES.
Farmers and fishermen: Pay your estimated tax for 2017. Use Form 1040-ES.
January 31

Individuals who must make estimated tax payments.Individuals who must make estimated tax payments. If you didn’t pay your last installment of estimated tax by January 16, you may choose (but aren’t required) to file your income tax return (Form 1040) for 2017 by January 31. Filing your return and paying any tax due by January 31 prevents any penalty for late payment of the last installment. If you can’t file and pay your tax by January 31, file and pay your tax by April 17.

All businesses. Give annual information statements to recipients of certain payments you made during 2017. You can use the appropriate version of Form 1099 or other information return. Form 1099 can be issued electronically with the consent of the recipient.

Payers of nonemployee compensation. File Form 1099-MISC for non-employee compensation paid in 2017.

All employers. Give employees their copies of Form W2 for 2017. If an employee agreed to receive Form W2 electronically, have it posted on a website and notify the employee of the posting.

February 12

Employees who work for tips. If you received $20 or more in tips during January, report them to your employer. You can use Form 4070.

February 15

Individuals. If you claimed exemption from income tax withholding last year on the Form W-4, Employee’s Withholding Allowance Certificate, you gave your employer, you must file a new Form W-4 by this date to continue your exemption for another year.

All businesses. Give annual information statements to recipients of certain payments you made during 2017. You can use the appropriate version of Form 1099 or other information return.

February 28 All businesses. File information returns (i.e. Forms 1099) for certain payments you made during 2017.
March 1 Farmers and fishermen. File your 2017 income tax return (1040) and pay any tax due.
March 12 Employees who work for tips. If you received $20 or more in tips during February, report them to your employer. You can use Form 4070.
March 15

Partnerships. File a 2017 calendar year return (Form 1065). Provide each partner with a copy of their Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc., or substitute Schedule K-1 (Form 1065).

S Corporations. File a 2017 calendar year income tax return (Form 1120S) and pay any tax due.

S Corporation election. File Form 2553, Election by a Small Business Corporation, to elect to be treated as an S corporation beginning with calendar year 2017. If Form 2553 is filed late, S corporation treatment will begin with calendar year 2018.

Electing large partnerships. Provide each partner with a copy of Schedule K1 (Form 1065B), Partner’s Share of Income (Loss) from an Electing Large Partnership, or a substitute Schedule K1. This due date applies even if the partnership requests an extension of time to file the Form 1065B by filing Form 7004.

2nd Quarter Tax Due Dates – April, May, June
April 2 Electronic filing of Forms 1097, 1098, 1099, 3921, 3922, and W-2G.
April 10 Employees who work for tips. If you received $20 or more in tips during March, report them to your employer. You can use Form 4070.
April 17

Individuals. File a 2017 income tax return (Form 1040, 1040A, or 1040EZ) and pay any tax due.

Individuals. If you’re not paying your 2018 income tax through withholding (or won’t pay in enough tax during the year that way), pay the first installment of your 2018 estimated tax. Use Form 1040-ES.

Household employers. If you paid cash wages of $2,000 or more in 2017 to a household employee, you must file Schedule H (Form 1040), Household Employment Taxes.

Corporations. File a 2017 calendar year income tax return (Form 1120) and pay any tax due.

Corporations. Deposit the first installment of estimated income tax for 2018.

May 10 Employees who work for tips. If you received $20 or more in tips during April, report them to your employer. You can use Form 4070.
June 11 Employees who work for tips. If you received $20 or more in tips during May, report them to your employer. You can use Form 4070.
June 15

Individuals. If you are a U.S. citizen or resident alien living and working (or on military duty) outside the United States and Puerto Rico, file Form 1040 and pay any tax, interest, and penalties due. If you want additional time to file your return, file Form 4868 to obtain 4 additional months to file.

Individuals. Make a payment of your 2018 estimated tax if you’re not paying your income tax for the year through withholding (or won’t pay in enough tax that way). Use Form 1040-ES. This is the second installment date for estimated tax in 2018.

Corporations. Deposit the second installment of estimated income tax for 2018. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.

3rd Quarter Tax Due Dates – July, August, September
July 10 Employees who work for tips. If you received $20 or more in tips during June, report them to your employer. You can use Form 4070.
August 10 Employees who work for tips. If you received $20 or more in tips during July, report them to your employer. You can use Form 4070.
September 10 Employees who work for tips. If you received $20 or more in tips during August, report them to your employer. You can use Form 4070.
September 17

Individuals. Make a payment of your 2018 estimated tax if you’re not paying your income tax for the year through withholding (or won’t pay in enough tax that way). Use Form 1040-ES. This is the third installment date for estimated tax in 2018.

Partnerships. File a 2017 calendar year return (Form 1065). This due date applies only if you timely requested an automatic 6-month extension.

S Corporations. File a 2017 calendar year income tax return (Form 1120S) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic 6-month extension of time to file the return.

Electing large partnerships. File a 2017 calendar year return (Form 1065-B). If required, provide each partner with an amended copy of their Schedule K-1 (Form 1065-B) or substitute Schedule K-1 (Form 1065-B). This due date applies only if you timely requested a 6-month extension of time to file the return.

Corporations. Deposit the third installment of estimated income tax for 2018. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.

4th Quarter Tax Due Dates – October, November, December
October 15

Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in September.

Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in September.

October 31

Social security, Medicare, and withheld income tax. File Form 941 for the third quarter of 2018. Deposit or pay any undeposited tax under the accuracy of deposit rules. If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for the quarter timely, properly, and in full, you have until November 13 to file the return.

Certain small employers. Deposit any undeposited tax if your tax liability is $2,500 or more for 2018 but less than $2,500 for the third quarter.

Federal unemployment tax. Deposit the tax owed through September if more than $500.

During November

Income tax withholding. Ask employees whose withholding allowances will be different in 2019 to fill out a new Form W-4 or Form W-4(SP). The 2019 revision of Form W-4 will be available at IRS.gov/FormW4 by mid-December.

November 13 Social security, Medicare, and withheld income tax. File Form 941 for the third quarter of 2018. This due date applies only if you deposited the tax for the quarter timely, properly, and in full.
November 15

Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in October.

Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in October.

December 17 Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in November. Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in November.
Fiscal Year Taxpayers Due Dates
Fiscal year calendars work different than calendar years; if you pay taxes on a fiscal year schedule the following due dates may apply to you.
Individuals

Form 1040. This form is due on the 15th day of the 4th month after the end of your tax year.

Estimated tax payments (Form 1040-ES). Payments are due on the 15th day of the 4th, 6th, and 9th months of your tax year and on the 15th day of the 1st month after your tax year ends.

Partnerships

Form 1065. This form is due on the 15th day of the 3rd month after the end of the partnership’s tax year. Provide each partner with a copy of Schedule K-1 (Form 1065) or a substitute Schedule K-1.

Form 1065-B (electing large partnerships). This form is due on the 15th day of the 3rd month after the end of the partnership’s tax year. Provide each partner with a copy of Schedule K-1 (Form 1065-B) or a substitute Schedule K-1 by the first March 15 following the close of the partnership’s tax year.

Corporations Form 1120. These forms are due on the 15th day of the 4th month after the end of the corporation’s tax year.
S Corporations

Form 1120S (or Form 7004). These forms are due on the 15th day of the 3rd month after the end of the corporation’s tax year. S corporations must provide each shareholder with a copy of Schedule K-1 (Form 1120S) or a substitute Schedule K-1.

Estimated tax payments. Payments are due on the 15th day of the 3rd(S Corporations), 4th (for Corporations), 6th, 9th, and 12th months of the corporation’s tax year.

Form 2553. This form is used to choose S corporation treatment. It is due no more than two months and 15 days after the beginning of the tax year the election is to take effect or at any time during the preceding tax year.

Tax Bracket Rates

Single Filers

Tax rate Taxable income bracket Tax owed
10% $0 to $9,325 10% of taxable income
15% $9,326 to $37,950 $932.50 plus 15% of the amount over $9,325
25% $37,951 to $91,900 $5,226.25 plus 25% of the amount over $37,950
28% $91,901 to $191,650 $18,713.75 plus 28% of the amount over $91,900
33% $191,651 to $416,700 $46,643.75 plus 33% of the amount over $191,650
35% $416,701 to $418,400 $120,910.25 plus 35% of the amount over $416,700
39.6% $418,401 or more $121,505.25 plus 39.6% of the amount over $418,400

Married Filing Jointly/ Qualifying Widow

Tax rate Taxable income bracket Tax owed
10% $0 to $18,650 10% of taxable income
15% $18,651 to $75,900 $1,865.00 plus 15% of the amount over $18,650
25% $75,901 to $153,100 $10,452.50 plus 25% of the amount over $75,900
28% $153,101 to $233,350 $29,752.50 plus 28% of the amount over $153,100
33% $233,351 to $416,700 $52,222.50 plus 33% of the amount over $233,350
35% $416,701 to $470,700 $112,728.00 plus 35% of the amount over $416,700
39.6% $470,701 or more $131,628.00 plus 39.6% of the amount over $470,700

Married Filing Separately

Tax rate Taxable income bracket Tax owed
10% $0 to $9,325 10% of taxable income
15% $9,326 to $37,950 $932.50 plus 15% of the amount over $9,325
25% $37,951 to $76,550 $5,226.25 plus 25% of the amount over $37,950
28% $76,551 to $116,675 $14,876.25 plus 28% of the amount over $76,550
33% $116,676 to $208,350 $26,111.25 plus 33% of the amount over $116,675
35% $208,351 to $235,350 $56,364.00 plus 35% of the amount over $208,350
39.6% $235,351 or more $65,814.00 plus 39.6% of the amount over $235,350

Head of Household

Tax rate Taxable income bracket Tax owed
10% $0 to $13,350 10% of taxable income
15% $13,351 to $50,800 $1,335.00 plus 15% of the amount over $13,350
25% $50,801 to $131,200 $6,952.50 plus 25% of the amount over $50,800
28% $131,201 to $212,500 $27,052.50 plus 28% of the amount over $131,200
33% $212,501 to $416,700 $49,816.50 plus 33% of the amount over $212,500
35% $416,701 to $444,550 $117,202.50 plus 35% of the amount over $416,700
39.6% $444,551 or more $126,950.00 plus 39.6% of the amount over $444,550

Standard Deduction Amounts

Filing Status 2017 2016 Increase
Married Filing Jointly (& Surviving Spouse) $12,700 $12,600 $100
Married Filing Separately $6,350 $6,300 $50
Single $6,350 $6,300 $50
Head of Household $9,350 $9,300 $50

Standard Deduction for Dependents

2017 2016 Increase
$1,050 $1,050 $0

Personal Exemption

2017 2016 Increase
$4,050 $4,050 $0

Gift Tax Exclusion

2017 2016 Increase
$14,000 $14,000 $0

Track Your Refund

Abigail Y. Murray, CPA, LLC wants to provide you with the tools to track your Tax Refund. Not sure where to look?

Click here for a direct link to the IRS Refund Status web page.

Just make sure you have your social security number, filing status, and exact refund amount on hand to ensure you receive your tax refund update.