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Barbara Weltman

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Tax Deadline: Due Date of 2015 Returns on Extension

October 17, 2016 / By Barbara Weltman

If you obtained a filing extension for your personal 2015 income tax return and have not yet filed, today is the deadline for getting it in; you can still e-file the return. If you fail to file by today, you will owe a late filing penalty; no additional extensions can be granted. Those who had income below the filing threshold but who claimed the premium tax credit to pay for health coverage through a government exchange nonetheless must file a return or risk credit ineligibility for 2017. For self-employed individuals, today is the last day to fund a qualified retirement plan for 2015. Plans must have been set up by the end of 2015 to accept contributions for that plan year. Exception: You can set up and fund a SEP plan before the end of today if you are filing your 2015 return today on extension.

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Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

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