3 Financial Dates for Your September 2020 Calendar

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Life moves quickly. It’s easy to get distracted. But that can be costly.

Miss an important financial date or deadline, and you could be on the hook for a penalty, or lose out on a limited-time opportunity to save money.

Enter our money calendar series.

In this edition, we’ve rounded up the noteworthy money-related dates that are coming up in September. Take a look and mark your calendar with any dates that apply to you.

Sept. 7 — Labor Day

While the holiday itself is observed on a Monday, Labor Day sales are likely to kick off by Friday, Sept. 4, if not sooner.

To learn which deals will be worth acting on this year, check out “The 7 Best Things to Buy in September — and 5 to Avoid.”

Sept. 15 — deadline for estimated tax payments

Sept. 15 is the deadline for the third quarterly installment of estimated taxes for 2020. It applies to the self-employed, who use IRS Form 1040-ES to pay this tax.

Sept. 30 — nonfiler deadline for dependent stimulus payments

If you were not required to file a federal tax return for 2018 or 2019, and you have a dependent who qualifies you to receive the $500 dependent stimulus payment established by the CARES Act, the IRS is giving you until Sept. 30 to claim that payment.

This situation applies primarily to beneficiaries of certain federal programs. The IRS explains:

“Those eligible to provide this information include people with qualifying children who receive Social Security retirement, survivor or disability benefits, Supplemental Security Income (SSI), Railroad Retirement benefits and Veterans Affairs Compensation and Pension (C&P) benefits and did not file a tax return in 2018 or 2019.”

If that’s you, use the IRS.gov Non-Filer’s tool to claim the $500 payment for each of your eligible dependents. The IRS expects to issue these payments — which it refers to as “economic impact payments” — by mid-October.

A separate deadline applies for payments in your name, rather than a dependent’s name. Even if you were not required to file a federal tax return for 2018 and 2019, the government still should have sent you a $1,200 payment automatically. But if you didn’t receive your payment, you have until Oct. 15 to claim it. Use the IRS’ Non-Filers tool to do so.

If the Sept. 30 (for dependents) or Oct. 15 (for yourself) deadline applies to you and you miss it, the IRS says you must wait until next year and file a 2020 federal tax return so you can claim your stimulus payment as a tax credit.

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