TAX CENTER
TAX PREPARATIONS AND OTHER FORMS
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NEW TAX REFORM TIPS
TAX DUE DATES
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When someone mentions the tax deadline, most of us are thinking of a specific day in April when taxes are due typically. However, there are other important dates to keep in mind — from estimated tax payment due dates to extension filing deadlines.
What is tax day?
While not a federally recognized holiday, tax day is when individual federal taxes are due to the IRS. Most years, the answer to “what day is tax day?” is April 15–unless there is an exception. We’ll go over all those nuances in this article.
When are taxes due?
So, when is tax day this year? For 2021 tax returns filed in 2021, tax day is April 18.
When is tax day normally?
Tax day normally is April 15. Keep in mind, if a filing or payment deadline falls on a Saturday, Sunday, or legal holiday, the tax due date will be the next business day. And, when natural disasters or pandemics happen — the tax filing deadline is subject to shift as well.
Standard tax deadlines
The date you need to pay your taxes by comes in mid-April for most taxpayers. If you make estimated payments, there are a few more estimated tax due dates you’ll want to remember.
Federal tax due date
April 18 — This is the due date for filing your 2021 federal forms and paying your taxes if you owe. Your 2021 return covers your taxes for the tax year ending on Dec. 31, 2021. This is perhaps the biggest date on the tax calendar, so don’t miss it if you can help it!
Federal tax extension deadline
Need an extension? You can get an automatic six-month extension of your tax due date. You can submit Form 4868: Application for Automatic Extension of Time to File. This form must be postmarked on or before the tax deadline mentioned above. With the extension, the tax extension deadline for filing your return will be Oct. 15. However, the IRS will charge you interest. The IRS may also charge you a late payment penalty unless you make a payment that’s close to your tax liability and the remaining amount is paid with your return. Submit your initial payment with Form 4868.
Quarterly payment due dates for estimated taxes
If you aren’t paying your income tax for the year through withholding or won’t pay enough tax that way, you’ll need to make estimated tax payments by certain due dates using Form 1040-ES. If the due date falls on a weekend or holiday, the due date is the next business day.
- Jan. 15 — Pay the fourth payment of your estimated tax by this due date. You won’t need to make the fourth payment if you file your return and pay the entire balance due by Jan. 31. If you can’t file and pay your tax by Jan. 31, file and pay the fourth payment by this date and then file your tax return by 05/17/2021.
- **TaxDueDateShort** — Make the first payment of your estimated tax.
- June 15 — Make the second payment of your estimated tax.
- Sept. 15 — Make the third payment of your estimated tax.
Tax filing deadlines for ex-pats
June 15 — File Form 1040 and pay any tax, interest, and penalties due if you’re a U.S. citizen, resident alien, or member of the military (on military duty) living and working outside the U.S. and Puerto Rico.
If you want to add some additional time to file your return onto your tax calendar, file Form 4868 to obtain four additional months to file. If you’re a member of the armed forces serving in a combat zone, you might be able to further extend your tax due date.
What is the tax due date for filing taxes with extensions?
Oct. 15 — If you filed Form 4868 extending the due date of your return, this is the last day to file your tax return and pay any tax, interest, or penalties due. It’s also the last day for making many elections the IRS required you to make by the due date of your 2020 return if you had filed it on time.
Retirement-related tax filing deadlines
April 18 — It’s the last day to set up an IRA or make IRA contributions for the tax year — even if you get an extension.
October 1 — It’s the deadline for establishing a SIMPLE IRA.
October 15 — For those who have filed an extension, it’s the last day for recharacterizing an IRA contribution for the year if you filed your return on time. Note that Roth IRA conversions for tax years 2018 through 2025 can’t be recharacterized as Traditional IRAs.
Additional tax-related dates and reminders
Jan. 31 — W-2s are due from your employer. Forms 1099 are due from payers of interest, dividends, and other specified types of income. If this date falls on a weekend, file the Monday after.
Feb. 15 — If you were exempt from income tax withholding for 2020, you must file a new Form W-4 to continue your exemption for the next tax year.
Tip earners — By the 10th day of each month, report the amount of tips of $20 or more you made during the previous month. You must report the amount in writing to your employers. This includes tips paid with cash, checks, and credit cards.
You can use Form 4070A in Publication 1244 or any other daily record to record your tip income for the month. If the 10th falls on a weekend or holiday, the due date is the next business day.
When some taxpayers ask, “How do I get an extension for my taxes?” they might be thinking of the taxes owed and not the return itself.
This question calls attention to a key distinction about what a tax extension is — and what it is not. An extension only gives you more time to finish the paperwork, not more time to pay.
Your tax payment is due on the tax deadline, which typically falls on April 15 or on the next business day if it falls on a weekend or holiday.
- If you know you’ll be getting a refund, you won’t need to worry about paying when you are filing an extension for taxes. The earlier you file your return, the earlier you’ll receive your refund.
- If you think or know you’ll owe, you should estimate your tax liability and pay the amount due when you file Form 4868.
Is there a penalty for filing for a tax extension?
Filing a tax extension is not a bad thing. There is no penalty for filing an extension. However, not paying on time or enough, or failing to file altogether, may cost you.
- If you don’t pay the full amount you owe, the IRS will charge you interest on the unpaid balance until you pay the full amount.
- If you don’t pay at least 90% of the amount you owe, you might also be subject to a late payment penalty. The penalty is usually half of 1% of the amount owed for each month, up to a maximum of 25%.
- If you don’t file either your return or Form 4868 by the tax filing deadline, you’ll be subject to a late filing penalty. The penalty is usually 5% of the amount you owe for each month, up to a maximum of 25%.
After you file the extension, you’ll have until October 15 to gather your documents and finish your filing. When you complete your return, you should include the amount you’ve already paid in the payments section of your Form 1040.
January:
- 1: tax year begins for any calendar year taxpayer
- Includes most individuals, sole proprietors, and businesses, unless they have applied for a fiscal year with the IRS
- 15: Make the 4th estimated tax payment for the previous tax year
- A taxpayer, such as a self-employed individual, will have estimated payments if they did not pay their income tax for the year through withholding or will not pay enough through withholding
- No need to make the 4th estimated payment by the 15th if the taxpayer will file their previous year return and pay any tax due by Jan. 31
- 15: Farmers and Fisherman
- Those making estimated payments must pay their entire tax liability for the previous year by this date
- 31: W-2s due from employers; Form 1099s due from payers of interest, dividends and other specified types of income
- 31: If the taxpayer did not make their last estimated payment by Jan. 15, they can file their return by today and pay any tax still due.
- This prevents a penalty for late payment of the final installment
February:
- 15: If a taxpayer was exempt from tax withholding for the previous year, they must file a new Form W-4 to continue the tax exemption for the current year
March
- 1: Farmers and Fisherman
- Those that do not make estimated payments must file their return and pay their taxes by this date
April:
- 15: Federal and most state individual tax returns are due (Not in 2021, however. The tax deadline for 2020 taxes is May 17, 2021.)
- Submit Form 4648 to get an automatic extension to file the federal return
- Deadline will move to Oct. 15, depending on holidays and weekends
- IRS will charge interest unless the taxpayer makes a payment that’s close to their tax liability – this payment can be made with Form 4868
- 15: last day to set up an IRA or make IRA contributions for the previous year, even if the taxpayer has received an extension
- 15: If the taxpayer will make estimated tax payments for the current year, the first payment is due April 15.
- 15: Farmers and Fisherman
- Those that made all estimated payments for the previous by Jan. 15, must file their return by this date
- Submit Form 4648 to get an automatic extension to file the federal return
June:
- 15: Taxpayers that work and live outside the U.S. and Puerto Rico must file their Form 1040s and pay any tax, interest, and penalties due
- These taxpayers may file Form 4868 to obtain a four-month extension
- Members of the armed forces in a combat zone may be able to further extend their filing deadline
- 15: Taxpayers making estimated tax payments must make their second estimated payment for the current year.
- These taxpayers may file Form 4868 to obtain a four-month extension
September:
- 15: Taxpayers making estimated payments must make their third estimated payment for the current year
October:
- 1: deadline for establishing a SIMPLE IRA
- 15 or thereabout: If a taxpayer filed Form 4868 to extend their deadline, their return and any tax, interest or penalties are due
- 15: the Last day for re-characterizing an IRA contribution for the year if the taxpayer filed their return on time
- 15: The last day for making many elections the IRS required the taxpayer to make by the due date of their previous year return if they filed their return on time
Seasonal Milestones to Think About
Beginning of Year
- Itemized deductions
- If in years past you claimed the standard deduction, consider itemizing deductions to reduce your taxes. Do this by bundling your deductions in the current tax year
- Make an early or extra mortgage payment during the year
- Increase charitable deductions for the year
- Look at medical expenses that can be planned and bunch your medical expenses all within the year. Think about braces of a dependent if you know other factors (such as surgery, or having a baby) will occur making it likely you will hit your deductible this year
- If in years past you claimed the standard deduction, consider itemizing deductions to reduce your taxes. Do this by bundling your deductions in the current tax year
Year-End
- Charitable contributions
- Make all charitable contributions, either cash or tangible property, before the end of the year to take advantage of the charitable contribution deduction
- Stock sale planning
- If you are going to have a large capital gain for the year, consider selling off some securities that could generate a loss and minimize your capital gains for the year
- Retirement
- Contributions to a retirement plan can reduce taxable income
- Must be made to a 401(k) or 403(b) by Dec. 31
- Must be made to an IRA or other qualified plan by tax day of the following year
- Contributions to a retirement plan can reduce taxable income
Tax Implicating Events to Think About Throughout the Year
- Moving expenses
- If the move was related to a job, be sure to keep a log of expenses and retain any receipts in order to be able to deduct any eligible moving expenses.
- Business travel
- If the taxpayer’s employer does not use an accountable plan, be sure to keep receipts and other necessary materials in order to be able to take a deduction for travel expenses.
- Children’s summer camp
- If you have children that attend a summer camp, it can qualify you for the child or dependent care tax credit if it meets the requirements
- Tip earners
- By the 10th of each month, a taxpayer must report the amount of tips of $20 or more made in the previous month
- Report must be made to the taxpayer’s employer
- Tips include cash, checks, and credit card tips
- If the 10th falls on a weekend or holiday, the due date is the next business day that isn’t a weekend or holiday
- By the 10th of each month, a taxpayer must report the amount of tips of $20 or more made in the previous month
First-quarter
January, February, & March business tax deadlines
JANUARY
January 15: Self-employed estimated quarterly tax payments for Q4 of 2021 are due. (You can also get help with paying estimated taxes for your small business with our Quarterly Tax Payment Service to ensure you’re paying the lowest amount in quarterly taxes for $99 — a value of $150.)
FEBRUARY
February 1: 1099-NEC for non-employee compensation must be filed with the IRS and furnished to contractors. If you are an independent contractor, you should receive a copy of the form around this date.
MARCH
March 1: Farmers and fishermen who didn’t pay all estimated tax payments must file an income tax return and pay any tax due by March 1. If all estimated taxes were paid by January 15, 2022, the due date for filing your return is April 15.*
*For 2021 returns, the due date was May 15, 2022.
March 15: S corporation and partnership tax return due date for calendar-year businesses are due. This is also the deadline to file an S corporation and partnership tax extension (using Form 7004).
Second-quarter
April, May, & June business tax deadlines
APRIL
April 15*: Sole proprietorship and single-member LLC tax returns on Schedule C with your personal income tax return (Form 1040).
April 15: This is the corporation tax deadline.
April 15: If you pay quarterly taxes, the first quarter’s payment for 2022 is due this day.
April 15: Today is the last day to make a contribution to a retirement or other tax-advantaged savings accounts, such as a traditional IRA, Roth IRA, Health Savings Account. The deadline for contributing to a SEP IRA and a solo 401(k) is April 15 but may be extended by filing a 6-month extension.
April 15: Report of Foreign Bank and Financial Accounts (FBAR) is due. This applies to business-owned foreign accounts.
April 15: Partnerships, LLC, and S corporation shareholders should file report income and deductions from their Schedule K-1 with their personal income tax returns on this date or request an extension of time to file.
JUNE
June 15: The second payment of quarterly estimated tax payments for 2022 is due.
Third-quarter
July, August, & September business tax deadlines
SEPTEMBER
September 15: The third estimated quarterly tax payment for 2022 is due on this date.
September 15: Extended deadline for calendar-year partnerships and multiple-member LLCs who file Form 1065 for their business. It’s also the S corporation business tax extension deadline (for the business’ return, not the owners). So if your business files a calendar-year Form 1120-S and filed an extension this year, you should file by September 15.
Fourth-Quarter
October, November, & December business tax deadlines
OCTOBER
October 15: This is the due date for sole proprietors, single-member LLCs, S corporation owners, partners, and corporations with a tax extension.
DECEMBER
December 1: Consider making year-end tax moves to optimize your tax outcome. While Dec. 1 isn’t an official deadline, noting the date on your calendar can give you a nudge to explore your options before the year is out.
December 15: The fourth estimated quarterly tax payment for corporations for 2022 is due on this date. Please note the fourth-quarter payment is due at different times for individuals and corporations.
Corporation due dates and your business calendar year
Not all businesses align with a typical tax year. If your business doesn’t follow a typical calendar year, like some corporations, you should pay taxes on the 15th day of the third month following the close of your tax year.
Federal income tax rates are divided into seven segments commonly known as income tax brackets. All taxpayers pay increasing income tax rates as their income rises through these segments. If you’re trying to determine your marginal tax rate or your highest federal tax bracket, you’ll need to know two things:
- Your filing status: The filing status options are to file as single, married filing jointly, married filing separately, head of household, or qualified widow.
- Your taxable income: Believe it or not, your taxable income doesn’t equal your wages. Rather, it’s the total of your taxable income sources (like wages, investment interest, and retirement distributions) minus any adjustments and tax deductions. Most income is taxed using these seven tax brackets, except for certain capital gains and dividends.
If you’re wondering, “What tax bracket am I in?” The tax bracket-specific income ranges can shift slightly each year due to inflation adjustments, so you’ll want to reference the year when you review income tax brackets. Here we outline the 2021 tax brackets.
Note: The brackets for Qualifying Widow(ers) are the same as for Married Filing Jointly status.
| 2021 tax brackets | ||||
| Rate | Single | Married Filing Separately | Married Filing Jointly | Head of Household |
| Taxable income over . . . | ||||
| 10% | $0 | $0 | $0 | $0 |
| 12% | $9,950 | $9,950 | $19,900 | $14,200 |
| 22% | $40,525 | $40,525 | $81,050 | $54,200 |
| 24% | $86,375 | $86,375 | $172,750 | $86,350 |
| 32% | $164,925 | $164,925 | $329,850 | $164,900 |
| 35% | $209,425 | $209,425 | $418,850 | $209,400 |
| 37% | $523,600 | $314,150 | $628,300 | $523,600 |
The nuances of federal income tax brackets can seem complex at first glance. So, if you’re asking yourself, “how do tax brackets work?”, here’s more detail.
Once you know your filing status and amount of taxable income, you can find your tax bracket. However, you should know that not all of your income is taxed at that rate. For example, if you fall in the 22% tax bracket, not all of your income is taxed at 22%. Why is that? The reason is that the U.S. income tax system uses a graduated tax system, designed so that individual taxpayers pay an increasing rate as their income rises as outlined in the 2021 tax brackets above.
Let’s look at Sarah, whose filing status is “Single” and who has a taxable income of $50,000. Using the 2021 information above, we can determine Sarah’s total tax in the following steps:
- Figure out the amount of tax for each segment of taxable income. Sarah will pay:
- 10% on the first $9,950 of taxable income
- 12% on the next $30,575 ($40,525-$9,950)
- 22% on the remaining $9,475 ($50,000-$40,525)
- Add the taxable amounts for each segment ($995 + $3,669 + $2,085) = $ 6,749
For 2021 tax returns, Sarah will pay $6,749 in tax. While the tax brackets apply to $50,000 and the average rate is 13.5%, Sarah’s total income is $62,550 ($50,000 taxable income + $12,550 standard deduction) and the rate based on her total income would be 10.8% ($6,749 ÷ $62,550). Her marginal tax rate is 22%.
So, what’s the difference between all these different percentages and rates? Read on and we’ll explain. Want more guidance? Review the 2021 tax tables listed by the IRS.
When you receive a quarterly investment statement, it may show that you were paid capital gains or dividends. To know what dividend or capital gain tax rate applies here, you should also look at the timeframes involved.
- Long-term capital gains refer to assets sold for a profit that was held for more than one year. The specific rates depend on your taxable income, but it’s not the same as the percentages listed above. Use the table lower in this section to determine your rate.
- Short-term capital gains refer to assets sold for a profit that was held for one year or less. These gains are taxed just the same as ordinary income, so you can refer to the federal income tax rates above.
- Qualified dividend income refers to income held for a certain period. For a dividend to be a qualified dividend, you must have held the asset for more than 60 days during the 121-day period starting 60 days before the ex-dividend date. Qualified dividend income is taxed at the same rate as long-term capital gains, so it will also follow the rates shown in the table below.
- Ordinary dividend income refers to income that doesn’t meet the qualified dividend income criteria above. These dividends, just like short-term capital gains, are taxed as ordinary income. Refer back to the federal income tax rates above.
2021 tax rates: Long-term capital gains (LTCG) and Qualified dividend income (QDI)
| LTCG and QDI tax rates | Single | Married Filing Separately | Married Filing Jointly | Head of Household |
| 0% | Up to $40,400 | Up to $40,400 | Up to $80,800 | Up to $54,100 |
| 15% | $40,401 to $445,850 | $40,401 to $250,800 | $80,801 to $501,600 | $54,101 to $473,750 |
| 20% | Above $445,850 | Above $250,800 | Above $501,600 | Above $473,750 |
Note: Gains on the sale of collectibles (e.g., antiques, works of art, and stamps) are taxed at a maximum rate of 28%.
When you look at your paycheck, you can see taxes that are taken out of your take-home pay for various reasons. We’ll cover those in this section.
Social Security and Medicare taxes fall under the Federal Insurance Contributions Act (FICA) taxes. When you want to know the FICA tax rate, you should refer to the two categories below.
Currently, the:
- Social Security tax rate is 6.2%. This is for the employee portion of these taxes. Employers also pay half of these taxes, so you can add another 6.2% to get the total Social Security tax rate.
- Medicare tax rate is 1.45%. This is for the employee portion of the taxes.
There are some limits and exceptions to Social Security and Medicare tax rates.
TAX RATES
2020 Tax Rates – Single Taxpayers, Married Filing Separately – Standard Deduction $12,550
10%
$0 To $9,950
12%
$9,951 to $40,525
22%
$40,526 to $86,375
24%
$86,376 to $164,925
32%
$164,926 to $209,425
35%
$209,426 to $523,600
37%
Over $523,601
2020 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $25,100
10%
0 to $19,900
12%
$19,901 to $81,050
22%
$81,051 to $172,750
24%
$172,751 to $329,850
32%
$329,851 to $418,850
35%
$418,851 to $628,300
37%
Over $628,301
2020 Tax Rates – Head of Household – Standard Deduction $18,800
10%
0 to $14,200
12%
$14,201 to $54,200
22%
$54,201 to $86,350
24%
$86,351 to $164,900
32%
$164,901 to $209,400
35%
$209,401 to $523,600
37%
Over $523,601
2020 Tax Rates – Estates & Trusts
10%
0 to $2,650
24%
$2,651 to $9,550
35%
$9,551 to $13,050
37%
Over $13,051
Standard Deduction Amounts
The standard deduction amounts will increase to $12,550 for individuals and married couples filing separately, $18,800 for heads of household, and $25,100 for married couples filing jointly and surviving spouses.
- For 2021, the additional standard deduction amount for the aged or the blind is $1,350. The additional standard deduction amount increases to $1,700 for unmarried taxpayers.
- By 2021, the standard deduction amount for an individual who may be claimed as a dependent by another taxpayer remains the same. It cannot exceed the greater of $1,100 or the sum of $350 and the individual’s earned income (not to exceed the regular standard deduction amount).
Kiddie Tax
The kiddie tax applies to unearned income for children under the age of 19 and college students under 24. Unearned income is income from sources other than wages and salary, like dividends and interest.
For 2021, the standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of (1) $1,100 or (2) the sum of $350 and the individual’s earned income (not to exceed the regular standard deduction amount).
Under the TCJA, your child must pay taxes on their unearned income, but if that amount is more than $1,100, but less than $11,000, you may be able to elect to include that income on your return rather than file a separate return for your child.
Capital Gains Tax
Capital Gains rates will not change for 2021, but the brackets for the rates will change. Most taxpayers pay a maximum 15% rate, but a 20% tax rate applies if your taxable income exceeds the thresholds set for the 37% ordinary tax rate. Exceptions also apply for art, collectibles, and section 1250 gain (related to depreciation). The maximum zero rate amounts and maximum 15% rate amounts break down as follows:
Maximum Capital Gains Rates
| Filling Status | Maximum Zero Rate Amount | Maximum15% Rate Amount | |||||
| Married Filing Jointly & Surviving Spouses | $80,800 | $501,600 | |||||
| Married Filing Separately | $40,400 | $250,800 | |||||
| Heads of Household | $54,100 | $473,750 | |||||
| Individual Taxpayers | $40,400 | $445,850 | |||||
| Trusts and Estates | $2,700 | $13,250 | |||||
Schedule A (Itemized Deductions)
There are changes to itemized deductions found on Schedule A, including:
- Medical and Dental Expenses. The “floor” for medical and dental expenses is 10% in 2021, which means you can only deduct those expenses which exceed 10% of your AGI.
- State and Local Taxes. Deductions for state and local sales, income, and property taxes remain in place and are limited to a combined total of $10,000, or $5,000 for married taxpayers filing separately.
- Home Mortgage Interest. You may only deduct interest on acquisition indebtedness—your mortgage used to buy, build, or improve your home—up to $750,000, or $375,000 for married taxpayers filing separately.
- Charitable Donations. The percentage limit for charitable cash donations to public charities remains at 60% for 2o21.
- Casualty and Theft Losses. The deduction for personal casualty and theft losses has been repealed except for losses attributable to a federal disaster area.
- Job Expenses and Miscellaneous Deductions subject to 2% floor. Miscellaneous deductions, including unreimbursed employee expenses and tax preparation expenses, which exceed 2% of your AGI, have been eliminated.
- There are no Pease limitations in 2021.
Above-The-Line Deductions
An above-the-line deduction is one that you can claim even if you don’t itemize your deductions. Here’s a look at two of the most popular:
- Student Loan Interest Deduction. For 2021, the $2,500 deduction for interest paid on student loans begins to phase out when modified adjusted gross income (MAGI) hits $70,000 ($140,000 for taxpayers filing a joint return) and is completely phased out when MAGI hit $85,000 ($170,000 for taxpayers filing a joint return).
- Elementary and Secondary School Teachers Expenses. By 2021, qualifying teachers can claim $250 for expenses paid or incurred for books, supplies (other than nonathletic supplies for courses of instruction in health or physical education), computer equipment (including related software and services) and other equipment, and supplementary materials used in the classroom.
- Charitable Contributions. For 2020, if you don’t itemize your deductions, you can claim a charitable deduction of up to $300 for cash contributions. The maximum deduction per return is $300 (it’s not per person). Unless Congress extends the provision, that is not the case for 2021.
Tax Credits & Tax Deductions
Some additional tax credits and deductions have been adjusted for 2021. Here’s a look at a few of the most popular:
- Child Tax Credit. The child tax credit is $2,000 per qualifying child; up to $1,400 is refundable, subject to phaseouts. AGI phaseouts are not indexed for inflation and remain at $400,000 for married taxpayers filing jointly and more than $200,000 for all other taxpayers.
- Earned Income Tax Credit (EITC). For 2021, the maximum EITC amount available is $6,728 for married taxpayers filing jointly with three or more qualifying children (it’s $543 for a married taxpayer with no children). Phaseouts apply.
- Adoption Credit. For 2021, the credit for adopting a child with special needs is $14,440, and the maximum credit allowed for other adoptions is the number of qualified adoption expenses up to $14,440. The available adoption credit begins to phase out for taxpayers with MAGI over $216,660; it’s completely phased out at $256,660 or more.
- Lifetime Learning Credit. For the 2021 tax year, the credit begins to phaseout once MAGI is $59,000 ($119,000 for taxpayers filing a joint return). The credit is completely phased out for taxpayers with MAGI over $69,000 ($139,000 for taxpayers filing a joint return).
- Medical Savings Accounts (MSA). For 2021, a high-deductible health plan (HDHP) is one that, for participants who have self-only coverage in an MSA, has an annual deductible that is not less than $2,400 but not more than $3,600; for self-only coverage, the maximum out-of-pocket expense amount is $4,800. For 2021, HDHP means, for participants with family coverage, an annual deductible that is not less than $4,800 but not more than $7,100; for family coverage, the maximum out-of-pocket expense limit is $8,750.
- Health Flexible Spending Arrangements. For 2021, the dollar limitation for contributions to health flexible spending arrangements is $2,750. If the plan permits the carryover of unused amounts, the maximum carryover amount is $550.
- There is no shared individual responsibility payment for the tax year 2021.
IRS TAX FORMS AND PUBLICATIONS
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Circular E, Employer’s Tax Guide
Employer’s Supplemental Tax Guide
Employer’s Tax Guide to Fringe Benefits
Your Federal Income Tax
Tax Guide for U.S. Citizens and Resident Aliens Abroad
Tax Guide for Small Business
Travel, Entertainment, Gift, and Car Expenses
Exemptions, Standard Deduction, and Filing Information
Medical and Dental Expenses
Child and Dependent Care Expenses
Divorced or Separated Individuals
Tax Withholding and Estimated Tax
Tax Calendars
Excise Taxes (Including Fuel Tax Credits and Refunds)
Foreign Tax Credit for Individuals
Withholding of Tax on Nonresident Aliens and Foreign Corporations
U.S. Government Civilian Employees Stationed Abroad
Social Security and Other Information for Members of the Clergy & Religious Workers
U.S. Tax Guide for Aliens
Moving Expenses
Selling Your Home
Taxable and Nontaxable Income
Charitable Contributions
Residential Rental Property (Including Rental of Vacation Homes)
Miscellaneous Deductions
Tax Information for First-Time Homeowners
Reporting Tip Income
Business Expenses
Net Operating Losses
Installment Sales
Accounting Periods and Methods
Partnerships
Corporations
Sales and other Dispositions of Assets
Casualties, Disasters, and Thefts
Investment Income and Expenses (Including Capital Gains and Losses and Mutual fund Distributions)
Tax Guide for Seniors
Community Property
Examination of Returns, Appeal Rights, and Claims for Refund
Tax-Exempt Status for Your Organization
Retirement Plans for Small Business
Tax Guide for Individuals With Income from U.S. Possessions
Tax-Sheltered Annuity Programs for Employees of Public Schools and Certain Tax-Exempt Organizations
Pension and Annuity Income
Starting a Business and Keeping Records
Business Use of Your Home (Including Use by Day-Care Providers)
Contributions to Individual Retirement Arrangements (IRAs)
Distributions to Individual Retirement Arrangements (IRAs)
Capital Construction Fund for Commercial Fishermen
Earned Income Credit
Tax on Unrelated Business Income of Exempt Organizations
U.S. Tax Treaties
Request for Taxpayer Advocate Service Assistance
Social Security and Equivalent Railroad Retirement Benefits
Passive Activity and At-Risk Rules
Household Employers Tax Guide
Tax Rules for Children and Dependents
Home Mortgage Interest Deduction
General Rule for Pensions and Annuities
How to Depreciate Property
Reporting Back Pay and Special Wage Payments to the Social Security Administration
Qualified Adoption Expenses
Health Savings Accounts and Other Tax-Favored Health Plans
Tax Benefits for Education
Guide to Original Issue Discount (OID) Instruments
Reporting Cash Payments of Over $10,000
Safeguarding Taxpayer Data – A Guide for Your Business