Tax season is approaching and below are some deadlines you should familiarize yourself with so you know when to expect important documents you will need to file your 2015 tax return.

  • Forms W-2 and 1099-MISC (that relate to employee or independent contractor compensation) must be mailed out by February 1st.
  • Form 1099-B which relates to capital gains and sales of securities must be mailed out by your broker or custodian by February 17th.
  • Form K-1 (used by partnerships, LLC’s, S-Corps, Estates, and Trusts to show the owner/shareholder’s pro rata share of income for the year) must be mailed out by March 15th, unless an extension has been filed .
  • All individual tax returns or filing extension requests are due by Monday April 18th.
  • All Individual IRA contributions (Roth and Traditional) for 2015 must be made by April 18th.  However, if you do have a SEP IRA or Keogh plan and you file for an extension; you can make contributions up until the October 17th deadline for your return.
  • If you requested and were granted an extension for your 2015 return, your individual return must be filed by October 17, 2016.

The above dates are the actual deadlines, however many employers, brokers, etc. have already gotten a head start on getting these items out so watch for them in the mail over the next several weeks.   Also, you should save these forms, along with your 2015 tax return, for at least 3 years after filing in case of an audit.  Of course, we certainly hope that isn’t necessary.