The changes to the Internal Revenue Code (I.R.C.) for 2019 are certainly less extensive than the ones made for 2018. Nevertheless, some significant alterations and adjustments to the I.R.C. are evident this year.
This guide reviews the 2019 adjustments to the Internal Revenue Code and more:
- Tax season deadlines
- Key tax changes & Cost of Living Adjustments (COLAs) for households
- Key tax changes & COLAs for businesses
- Social Security & Medicare changes
- Last, but not least, some other interesting developments
Just a reminder as you read this guide: you should consult with a qualified tax or financial professional before making short-term or long-term changes to your tax or financial strategy. You can download the full 2019 Tax Guide below:
Tax Season Deadlines
Thursday, January 31
*W-2 and 1099-MISC forms must be supplied to employees by this deadline (W-2s to all employees; 1099-MISCs to any independent contractors and vendors who performed work for your business in 2018).
*W-2 and 1099-MISC summation form filing deadline for employers and small businesses. W-2s + linked Form W-3 go to the Social Security Administration, 1099s + linked Form 1095 to the I.R.S.
*Form 940 (Federal Unemployment Tax Report) and Form 941 (Employer’s Quarterly Federal Tax Form) are also due to the I.R.S. on this date.1,2,3
Friday, February 15
*Deadline to pay employee bonuses that qualify toward 2018 business taxes.
Friday, March 15
*Deadline for calendar-year S corporations to file Form 1120S.
> The extended deadline: September 16.
*Deadline for partnerships to file Form 1065.
> The extended deadline: September 16.
Monday, April 15
*Federal income tax deadline for individuals and sole proprietors.
> The extended deadline: October 15.
*Form 1120/1120s filing deadline for calendar-year C corporations.
> The extended deadline: October 15.
*Form 1041 filing deadline for trusts and estates.
> The extended deadline: October 1.
*Deadline to make 2018 IRA contributions to retirement plans for TY 2018.
Wednesday, May 15
*Form 990 filing deadline for tax-exempt organizations (qualified nonprofits and charities).
> The extended deadline: August 15.
Wednesday, July 31
*Form 5500 filing deadline for calendar-year employee benefit plans
> The extended deadline: October 15.
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