April is a busy month for tax filing. Be aware of upcoming deadlines in 2022 to avoid penalties. For guidance on your personal tax situation, consult your CPA.

April 1

First Required Minimum Distribution (RMD) by Individuals Who Turned 72 in 2021 RMD is the annual minimum amount you must withdraw from your IRA, SEP IRA, SIMPLE IRA, or retirement plan account when you reach age 72 (70 ½ if you reach 70 ½ before January 1, 2020). IRS link for more information.  

April 11

Report Tips Earned in March 2022 to Employer Use this form to report tips you receive to your employer. This includes cash tips, tips you receive from other employees, and debit and credit card tips. IRS Form 4070

April 18 Deadlines

File 2021 Tax Returns (Form 1040) and Pay Tax Due (except for residents of Maine and Massachusetts) Submit 2021 Tax Returns or An Extension to File and Pay Tax Owed

• By law, Washington, D.C., holidays impact tax deadlines for everyone in the same way federal holidays do. This year, Maine and Massachusetts taxpayers have until April 19, 2022, to file their returns. Taxpayers requesting an extension will have until Monday, October 17, 2022, to file. IRS Link for more information. 

File Schedule H and Pay Employment Taxes for Household Employees

• If you had a household employee, you need to withhold and pay social security and Medicare taxes. IRS Link for more information. 

First Estimated Tax Payment for 2022 is Due

• Estimated tax is the method used to pay tax on income not subject to withholding (e.g., earnings from self-employment, interest, dividends, rents, alimony, etc.). Form 1040-ES

Make Retirement Account Contributions for 2021

• This includes 2021 contributions, within limits, to your Individual Retirement Account (IRA), Solo 401(k) Plan or Simplified Employee Pension (SEP) Plan for 2021 by Self-Employed if filing of Form 1040 was not extended.

Withdraw Excess 2021 IRA Contributions to Avoid Penalties (if Form 1040 filing was not extended) Contribute to Health Savings Account (HSA) for 2021

April 19

File 2021 Tax Return (Form 1040) and Pay Tax Due for residents of Maine and Massachusetts

• If you live in Maine or Massachusetts, the tax filing due date falls on April 19, since April 18 is a holiday (Patriot’s Day) in those states.

If you need assistance or have any questions on the information in this article, please call your CironeFriedberg professional. You can reach us by phone at (203) 798-2721 (Bethel), (203) 366-5876 (Shelton), or (203) 359-1100 (Stamford) or email us at info@cironefriedberg.com.