Things & Dates you need to know.
Q: When is the last day to file your individual tax return?
A: Monday, April 18th, 2016.
Q: When are 1099’s sent out?
A: Monday, February 1st, 2016.
Q: Can I get an extension?
A: Yes, but you still need to pay by Monday, April 18th, 2016.
Q: Will I be penalized for filing late?
A: Yes, there are penalties for failure to file, failure to pay or both.
Q: If I owe tax, is interest charged?
A: Yes, fees & interest start on Tuesday, April 19th, 2016.
Q: I had no income, do I file anyway?
A: The IRS defines income in several ways. Call a tax professional at HSA.
Q: I lived abroad in 2015, do I still file a tax return?
A: Yes, all U.S. citizens are required to file a U.S. federal tax return to report income earned worldwide.
Q: Is college tuition deductible?
A: Tax laws are complex regarding school tuition deductibility, in order to receive the highest tax benefit, call a tax professional at HSA.