Category: Blog

Write Down These Important Tax Deadlines For 2015

Hi! Semaphore here with the first installment of #TaxTipTuesday.
This week, we’re going over some very important tax dates to note if you’re a small business owner or an individual with complicated taxes. The dates are sporadic, so get your iPhone out and get them in your calendar!
(Compiled from information available from the IRS)

February 15, 2015
• End of 2015 open enrollment at the Health Insurance Marketplace.
• This applies to uninsured taxpayers who want to avoid possible penalties on their 2015 tax returns, which are filed in 2016.

March 16, 2015
• Deadline for filing a 2014 corporation or S-corporation return or extension.

April 15, 2015
• Deadline for filing a 2014 personal, partnership, or estates/trusts tax returns or extension.
• The return or extension must be postmarked or transmitted for e-filing by Wednesday, April 15, 2015.
• To avoid late payment penalties and interest, any additional taxes you owe must be paid by this date even if you filed an extension.
• Due date for first installment of 2015 estimated tax payments.

April 20, 2015
• Deadline for resubmitting or paper-filing a rejected federal return that was originally e-filed by the April 15 deadline if you did not file an extension.
• Note: The last day to resubmit a rejected 2014 return is October 20; however the April 20 deadline applies to taxpayers who owe taxes and want to avoid the late-filing penalty.
• Deadline for resubmitting or paper-filing a rejected extension that was originally e-filed by the April 15 deadline.

June 15, 2015
• Deadline for filing a 2014 personal return for U.S. citizens or residents living and working abroad, including military duty.
• Due date for second installment of 2015 estimated tax payments.

September 15, 2015
• Final deadline to file your 2014 corporation, S-corporation, partnership, or estates/trusts tax return if you filed an extension.
• Due date for third installment of 2015 estimated tax payments.

October 15, 2015
• Final deadline to file your 2014 personal tax return if you filed an extension on or before April 15.

October 20, 2015
• Final deadline to resubmit a rejected 2014 return that was originally e-filed on or before October 15.
• If you’re expecting a refund and miss the October 20 e-file cutoff date, you have until April 16, 2018 (October 15, 2018 if you filed an extension) to file a paper return and claim your 2014 refund.

This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business advisor or tax advisor with respect to matters referenced in this post. Semaphore assumes no liability for actions taken in reliance upon the information contained herein.

5 EASY WAYS TO SPOT SCAM “IRS” CALLS

 

irsScammers are targeting people just like you, yes, even Tubers, every year in a decades-old scam involving, or rather, claiming to involve, the IRS.

Don’t fret. This post will prepare you to avoid these scams and keep your money in your pocket, where it belongs.

Fact: The IRS will never, ever call you on the phone. It’s not their M.O. They’ll only call if you’ve asked for it, which we suspect you probably never would.

So when you or someone you know receives a phone call from someone claiming to be from the IRS, it’s a scam.

It’ll often go down like this:

Someone will call you and claim they’re with the IRS. The scammers will demand you pay taxes they claim you owe (completely fabricated). Some may try to con you by saying that you’re due a refund—a fake lure so you’ll give them your banking or other private financial information.

It’s dangerous because these con-artists will often sound convincing when they call. They may know a lot of personal information about you. They may even alter the caller ID to make it look like the IRS is calling. If you don’t answer, they often leave an “urgent” callback request.

Here are five things that scammers do, but the IRS will never. Any one of these five things is a sign of a scam. The IRS does not:

  1. Call you to demand immediate payment. The IRS will not call about taxes you owe without first mailing you a bill.
  2. Demand that you pay taxes without giving you the chance to question or appeal the amount they say you owe.
  3. Require you to use a certain payment method for your taxes, such as a prepaid debit card.
  4. Ask for credit or debit card numbers over the phone.
  5. Threaten to summon police or other law-enforcement to have you arrested for not paying.

 

What if I get called?

If you get a phone call from someone claiming to be from the IRS and asking for money, here’s what to do:

If a person calls claiming to be from the IRS, be calm and ask for their badge number, the number they’re calling from, and their name. Then take that information and call the IRS at 800-829-1040. Once you get connected to a representative, let them know you received a call from a potential-scammer and ask them to verify what the person claimed.

If you know you don’t owe taxes or have no reason to believe that you do, also report the incident to TIGTA at 1.800.366.4484 or at www.tigta.gov.

Remember, the IRS currently does not use unsolicited email, text messages or any social media to discuss your personal tax issues, either.

Be smart this tax season; IRS scammers are working to take your money from you. We hope this guide helps you avoid them.

If you need more help understanding your taxes, please visit our live chat at our website (www.semaphoretax.com) to get in contact with one of our experienced tax professionals, or call us at 866-736-2444. We’re excited to hear from you!