The Financial Planning Association, an organization of financial-planning professionals, offers these important dates for 2001:
– First thing after the New Year begins: Consider reducing your withholding tax for 2001 if you expect a large tax refund for the year.
– Jan. 16: Deadline for your last quarterly estimated tax payment for the 2000 tax year.
– Jan. 31: You should have received your W-2 and 1099 forms by today. You need these forms to complete your tax return. If you haven’t received them, talk to your employer.
– Feb. 15: Try to send in your Free Application for Federal Student Aid (FAFSA) around this date.
– April 16: Time to pay Uncle Sam. April 15 falls on a Sunday, so you get an extra day to file your 2000 tax return. If you need to file for an extension, do so today. (If you file an extension, you still have to pay your tax bill by today to avoid late-payment penalties.)
– Aug. 15: If you filed for an extension on your federal taxes, today’s the deadline to submit your 2000 tax return. If you apply for a second extension, you’ll need IRS approval.
– Oct. 15: If you were granted a second extension on your federal return, this is your final deadline.
– Dec. 31: This is the last day you can give away $10,000 per person free of gift tax, sell investments whose gain (or loss) you want counted in 2001 or run up other tax deductions such as charitable gifts.
