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We l c o m e t o t h e Ta x N e w s Yo u C a n U s e€¦ · We l c o m e t o t h e Ta x N e w s Yo...
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Welcome to the Tax News You Can Use! Tax Season Updates as of March 22, 2019 Total Income Tax Returns Processed 269,381 Returns Filed Electronically 258,927 Refunds Issued 203,669 Average Refund $443.68 Extension Payments are Unnecessary to File on Extension You do not need to make a payment to qualify for an extension. All Montanans receive an automatic six-month extension. If you file on extension and have taxes owed, you will have interest applied to your tax amount. Learn More on our Website
Transcript of We l c o m e t o t h e Ta x N e w s Yo u C a n U s e€¦ · We l c o m e t o t h e Ta x N e w s Yo...
Welcome to the Tax News You Can Use!
Tax Season Updates as of March 22, 2019Total Income Tax Returns Processed 269,381Returns Filed Electronically 258,927Refunds Issued 203,669Average Refund $443.68
Extension Payments are Unnecessary to File onExtension
You do not need to make a payment toqualify for an extension. All Montanansreceive an automatic six-month extension.If you file on extension and have taxesowed, you will have interest applied to yourtax amount.
Learn More on our Website
Interest on Underpayment of Estimated Taxes onForm 2
If you owe more than $500 after credits andwithholding, you need to make estimatedpayments unless 2/3 of your income comesfrom farming or ranching. Otherwise, youwill be charged interest on the underpaidamount.
Publication 1: Prepaying Income Tax canhelp you determine if you need to makeestimated tax payments.
Learn More on our Website
Social Security, Pensions, and Qualified PlanDistributions are Only Taxable in the State of
ResidenceThe general rule, which allows fewexceptions, is that social security benefits,pensions and annuity payments, anddistributions from qualified plans such asdefined benefits, 401k plans, IRA plans andso on, are sourced to the state of residenceof the beneficiary when the payments arereceived.
Learn More on our Website
Calendar Events
April 1, 2019
2019 Annual CentrallyAssessed Property ReturnsDue2019 Natural ResourceProceeds Tax Returns andPayments Due2019 Resource Indemnityand Ground Water Tax Duefor Metal Mines
April 15, 2019
2018 Individual Income TaxDueProperty Tax AssistanceProgram (PTAP) ApplicationsDueMontana Disabled Veteran(MDV) Property TaxAssistance Applications DueQuarterly Individual andPass-through EstimatedPayments DueQuarterly Medical MarijuanaProvider Tax Returns andPayments DueMonthly Alcoholic BeverageReports DueMonthly Cigarette andTobacco Returns DueMonthly WithholdingPayments Due
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