Yes, tax season is here, and all NACA members need to be aware of the deadlines for filing and the ramifications of obtaining an extension or delaying payment of tax liabilities.
The filing deadline to submit 2015 tax returns is Monday, April 18, 2016, rather than the traditional April 15 date. Washington, D.C., will celebrate Emancipation Day on that Friday, which pushes the deadline to the following Monday for most of the nation. (Due to Patriots Day, the deadline will be Tuesday, April 19, in Maine and Massachusetts.)
After Monday, April 18, 2016, all active NACA member files in both the Purchase and Home Save programs MUST contain 2015 tax returns. W-2’s and 1099’s must be submitted to your NACA file by January 31st. The IRS will begin accepting and processing paper and electronic tax returns on Tuesday, January 19.
Please be aware that there are NO EXCEPTIONS to this requirement. If you have filed a form 4868 for an automatic extension of time to file, your NACA file will not be able to move forward until the actual tax return has been filed and is submitted to your NACA file. Additionally, if you have taxes due to the IRS and did not pay them with your return, your NACA file will also not be able to progress until the taxes are paid.
If you need to access IRS information or forms, they can be found at www.irs.gov.