Small Business Tips
IRS Tax Deadline 2017: Tuesday, April 18
The IRS tax deadline 2017 will be Tuesday, April 18, 2017. This is according to an announcement from the IRS. This is the deadline for submitting your 2016 tax returns but there are other tax deadlines to consider.
Why is Tax Day April 18 in 2017?
The IRS tax deadline is typically on April 15. But, that falls on a Saturday in 2017. Normally, that would make the following Monday (April 17) the tax deadline. But, that's when Washington D.C. has the legal holiday for Emancipation Day. As such, the national IRS tax deadline will be the following day.
Other Tax Deadlines To Be Aware of
The IRS said you can start filing your annual tax return starting Monday, Jan. 23, 2017. If you're self-employed or a small business owner, there are some other tax deadlines you'll have to be aware of.
If you're a sole proprietor, you'll likely have to pay the self-employment tax to the IRS four times a year as part of your estimated taxes. These cover your portion of Social Security and Medicare.
Don't forget that Jan. 17, 2017 is the deadline to pay your estimated taxes for the fourth quarter of 2016.
When Can I Expect My Refund?
If you get a tax refund, you can always check on the status of your refund here. The IRS expects more than four out of five tax returns to be prepared electronically and that 90 percent of refunds will go out in less than 21 days. The IRS expects delays on refunds for taxpayers receiving the earned income tax credit or the additional child tax credit.
Minimize Your Tax Bill With Deductions
I sincerely doubt many of you enjoy paying taxes. That's why we encourage you to take the largest deductions you're entitled to. Some of the largest deductions for self-employed workers, independent contractors, small business owners and freelancers are:
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