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Reminders as The Tax Deadline Looms

April 10, 2018

The tax deadline to file individual tax returns and extensions for 2017 is quickly approaching... Thanks to the federal government's  Emancipation Day holiday taxpayers have until April 17th to file!

Following are some helpful tips to keep in mind as you prepare for the April 17th Tax Return deadline.

  • In an effort to hurry and file those 1040 forms, many people forget that April 17th is also the deadline for making quarterly estimated payments - for some tax payers it is critical to make these payments to avoid future penalties. For more information about estimated tax payments and deadlines for each please click here.
  • Do you need more time to file your taxes this year? Perhaps you are waiting on tax documentation to arrive or there are other unforeseen circumstances keeping you from filing your return by the deadline. The IRS will grant you an automatic six-month tax extension, however it must be filed by April 17th. For more information about filing an extension with the IRS and for access to the necessary form 4868 please click here.
  • It's not too late to contribute to a Traditional IRA and qualify for the deduction on your 2017 return! You have until April 17th to make a tax-deductible contribution to a traditional IRA. The most you can contribute for the year is $5,500 ($6,500 if you're over 50). For more information please click here.

Do you have questions or need assistance with your tax return? Davis & Hodgdon Associates CPAs has been assisting Vermont individuals and business owners with tax consulting and retirement planning for more than 25 years. Call our office in Williston 802.878.1963 or Rutland 802. 775-7132 to schedule a tax planning strategy session today.